Commercial property solicitors

Russinating · 18 Apr 2013 at 10:47

I think I'm in the wrong job. We're moving premises at the moment and the agents (DTZ) have asked for our solicitor details. We've had a few quotes and they range from 500-1500+VAT. All we need them to do is be the name; the heads of terms and lease are straightforward and there's no problems but all seem intent on being picnickity to make a quick buck.

So my question is what do they actually do other than check for problems? And if there are no problems then what? And do we legally require one or not?

PS. I understand it's worth using one for big deals but for the size of our move their fees are 1-2 months rent and we'd much rather use the money elsewhere! You don't use a solicitor when you move into a residential flat and personally I don't really see the difference (the rent for this office is less than my current flat).

[FnG]magnolia · 18 Apr 2013 at 10:50

I also think you're in the wrong job if you're quibbling over a tiny bill, the legal ramifications of which you have no understanding of. Don't you have counsel or a company secretary?

mattyg · 18 Apr 2013 at 10:59

Are you liable to fix the roof of your flat.

You may be liable under your commercial lease. I've heard some absolute horror stories regarding commercial leases.

Commercial leases are NOT like private tenant leases.

[FnG]magnolia · 18 Apr 2013 at 11:01

Hence my post. The legal ignorance over such a tiny amount of cash is bewildering.

manic111 · 18 Apr 2013 at 11:03

Russinating said:
all seem intent on being picnickity to make a quick buck.

Partly that, partly because they can be sued for professional negligence if they aren't pernickity.

It's effectively a solicitor's job to look at the worst possible outcome and mitigate against it. That's what they're paid for, and that's what they do.

mattyg · 18 Apr 2013 at 11:05

The thing is £1500 seems a lot of money if the solicitor does things correct and there is no comeback.

But it will seem like a drop in the ocean if you skimp on it and things go wrong

Voltar · 18 Apr 2013 at 11:07

[FnG]magnolia;24138520 said:
I also think you're in the wrong job if you're quibbling over a tiny bill, the legal ramifications of which you have no understanding of. Don't you have counsel or a company secretary?

Russinating · 18 Apr 2013 at 18:13

[FnG]magnolia;24138520 said:
I also think you're in the wrong job if you're quibbling over a tiny bill, the legal ramifications of which you have no understanding of. Don't you have counsel or a company secretary?

No, we don't. And £1500 is hardly a 'tiny' amount vs our turnover/profit. £50 is tiny.

And no, we're not liable for the roof as it clearly states that.

TerryWogan · 18 Apr 2013 at 18:16

As has been said already, you're paying your solicitor for peace of mind. They'll ensure everything is above board and you understand everything. If anything goes wrong, you can sue them for professional negligence. That's why you pay them so much.

Of course, you could always take the risk and not bother!

Out of interest, are you instructing a large city firm or a smaller regional one? City firms will charge a hell of a lot more.

Russinating · 18 Apr 2013 at 18:21

I know that, but what if everything is already above board and we understand everything?

And yes, these are all small firms local to Bristol.

TerryWogan · 18 Apr 2013 at 18:27

Then... Don't instruct a solicitor? I'd like the peace of mind, personally, but if you're confident about the lease, why are you even asking?!

Russinating · 18 Apr 2013 at 18:30

If you read my OP you'll see I asked if they do anything else other than check the lease and if it's a legal requirement. Nobody has actually answered those questions yet.

TerryWogan · 18 Apr 2013 at 18:33

Ask the solicitors what they do? You're paying them, they're obliged to tell you! How would we know? Hell, I AM a solicitor and I don't know what they're going to do for you because I only know what you've told me in the OP, which isn't much!

But FYI, a solicitor isn't usually "pinickity" to lengthen the amount of work and make more money - they're covering their own back. If they make a mistake, they get sued. Believe it or not, partners don't look too kindly on their firms getting sued! Basically, they're protecting their own bums, and by extension, your bum.

They're shouldering complete responsibility for your commercial dealing. Hell yes they're gonna charge you for it!

But as I say, as for the actual work that will be involved, it depends on many variables that you haven't encroached on in your OP. Which is a good thing by the way, because that sort of thing is your private business.

dowie · 18 Apr 2013 at 19:48

[FnG]magnolia;24138594 said:
Hence my post. The legal ignorance over such a tiny amount of cash is bewildering.

And is surely the reason he's made the thread in the first place.... he's asking what they will actually do and your reply is along the lines of

'lol you pleb, tiny amount, you don't understand'

Which isn't very helpful and doesn't actually tell him much.

ince · 18 Apr 2013 at 20:12

Don't use one then.

J-FRO · 18 Apr 2013 at 21:26

Use the one charging £500 + VAT?

Alternatively, ask a larger firm for who this is a more straightforward transaction and see if you can get a cheaper quote. Just because they're bigger, doesn't necessarily always mean they're dearer.

They'll also want to analyse and see if the lease is exempt or covered by certain acts to see if they can protect your long term interests, they will run searches to check to see if the lessor is also the freeholder or a head leaseholder and inform you of the implications of that, they will try to establish what rights over neighbouring property you may have or what rights over yours somebody else may have. There's quite a bit they will look into to try and establish how it may affect you and your company.

Participant · 18 Apr 2013 at 22:08

What they do for the money russinating is normally very little. You're paying their rent and rates and wages, and for the one in ten times when they actually have to do something tricky.

It's very frustrating when you start a thread and you get idiot after idiot failing to read the question. I sympathise. Take for example the guy above who says 'don't use one then' when you've just asked what they do. Some people are just naturally thick as two short planks I'm afraid

.

TerryWogan · 18 Apr 2013 at 22:17

Interesting. A shortsighted generalisation of an entire profession followed by passive aggression, followed by straight out calling someone an idiot.

Participant · 18 Apr 2013 at 22:24

TerryWogan said:
Interesting. A shortsighted generalisation of an entire profession followed by passive aggression, followed by straight out calling someone an idiot.

If you're actually a solicitor then you should surely pay more attention to detail, as I actually called no one specifically an idiot. Maybe you're just the secretary?

TerryWogan · 18 Apr 2013 at 22:33

Sorry, "thick as two short planks" is not a synonym for idiot?

And yeah, I'm a secretary. You got me!

But yeah, top quality, mature posting. I suppose with 20,000+ posts they can't all be winners!