The importance of pre-contract due diligence in property transactions
Buying property, especially at auction or through direct negotiation, can seem like a great deal, but it often comes with hidden risks if you skip pre-contract due diligence.
James Cheshire, Associate Solicitor in our Commercial Property department, highlights the critical importance of getting legal advice before you commit to a purchase, in his article which has been published in SME Business News, amongst other publications.
“Solicitors always sound caution when acquiring residential or commercial property and emphasise the need to carry out pre-contract due diligence. This is especially relevant for auction purchases, but it’s not uncommon for other forms of contracts to be signed and exchanged prior to any due diligence being carried out.
Buyers should not commit to purchasing a property unless legal advice has been taken, and a recent example should serve as a warning to others considering a similar move…”
To read James’ full article, visit the link here: The importance of pre-contract due diligence in property transactions – SME BUSINESS NEWS
Disclaimer: General Information Provided Only
Please note that the contents of this article are intended solely for general information purposes and should not be considered as legal advice. We cannot be held responsible for any loss resulting from actions or inactions taken based on this article.
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