When preparing a commercial property sale there is both legal and commercial information that you need to provide to ensure a successful sale.
It is worth collecting all this information into a Buyer’s Pack (like a professionally produced brochure) to make your property shine, tell the prospective buyer everything they need to know and do a lot of the sales work for you.
This simple guide will take you through what you need to include in a Buyer’s Pack from a commercial and a legal standpoint.
What to include in a Buyer’s Pack to help make the sale
Including the right information in a visually appealing manner can save you a lot of time and effort in the sale, doing a lot of the work before the buyer even sees the property. This is particularly important in an auction sales environment.
It is worth investing in a professionally designed and printed Pack, that makes your property stand out on the market. First impressions count and this can even be before a viewing. Give yourself the best start to the sales process.
This is what you need to include for the best commercial Buyer’s Pack:
- Information about the property size, location and amenities
- Details about the local area, facilities and transport links
- Professional, well-lit photographs – it is worth using a professional property photographer instead of taking pictures on your phone
- Costs details for stamp duty, business rates and other associated costs that the buyer will be liable for
This should all be present in a clear, concise and visually appealing manner.
Legal requirements for a commercial property Buyer’s Pack
As well as information to help make the sale, there are several legal information requirements you will need to fulfil with what you provide to a potential buyer. The "Legal Pack" part of the Buyer's Pack is usually provided by a solicitor and are often made available via the seller’s website, with a hard copy also available.
Official Copy of Register of Title (Office Copy Entry)
Land Registry and Local Searches
Special Conditions of Sale
Property Information Form (TA6) – The seller is required to fill out this form with details of the following:
- Boundaries and who is responsible for the upkeep
- Details of any disputes or legal claims
- Alterations, planning and building controls- Guarantees and warranties
- Environmental issues
- Rights and informal arrangements
- Connections to utilities and services
- Parking provisions
- Transaction information
Fixtures and Fittings Form (TA10) – this form clearly states everything included in the sale and their condition.
Energy Performance Certificate (EPC) – this document will provide a detailed analysis of how energy efficient the property is and details of its Co2 impact. The EPC features coloured energy information graphs, similar to those found on domestic appliances such as new fridges.
Planning Permission Documentation
Including these commercial and legal elements to your Buyer’s Pack will help set your commercial property sale off on the right footing, keep you legally protected and do a lot of the sales work on your behalf with reduced effort.