Commercial Property Settlements
Purchasing commercial property is serious business. Just as you would seek the advice of your accountant or lawyer before signing a contract, it is critical to obtain the correct advice from a conveyancer when purchasing a commercial property.
At Metro Conveyancing, we take great care to pay attention to the details of your settlement and advise you accordingly. We liaise with all relevant parties to ensure all rights and obligations are met and honoured in the transaction, as well as working closely in conjunction with your accountant to secure your desired outcome.
We will help you to navigate:
- Factors regarding GST – is the property a Going Concern? Will GST be payable on top of the purchase price? etc.
- Leases - Is there a lease in place? Is a new lease required or required to be assigned?
- Ownership of the property – we will assist you with ensuring the property is registered in the correct name, whether it be personal, company, trust, or super fund. We will liaise with your accountant to ensure the correct name is registered on the Title and we will keep your accountant advised along the way and provide them with any required documentation for tax purposes.
- Attending to any adjustment of rates and taxes, Strata or Community Title Adjustments and ensure they are paid accordingly. We will advise all the relevant rating authorities of the change of ownership.
- Ensuring any debt pertaining to the property is discharged at settlement, whether it be a mortgage, a Security Agreement, a charge or any other associated agreement.
- Checking any local council requirements for the proposed used of the property.
- Investigating any insurances required.
- Ensuring that any requirements in relation to the Foreign Investment Withholding Tax are met for any properties.
- Ensuring you are obtaining any reductions in Stamp Duty in accordance with the legislation changes.
- We will attend the settlement of your property either in person at the Land Titles Office or electronically via the PEXA Platform.