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Stuart J
Stuart J, Solicitor
Category: Law
Satisfied Customers: 22386
Experience:  PGD Law. 20 years legal profession, 6 as partner in High Street Practice
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When selling a commercial property, what exactly do searches

Customer Question

When selling a commercial property, what exactly do searches mean? If the tenant/trader has warned the vendor verbally that they may terminate the lease early due to cash flow difficulties, but the vendor/landlord doesn't divulge this to a buyer of the investment, is there any comeback on the present landlord?
Submitted: 3 years ago.
Category: Law
Expert:  Stuart J replied 3 years ago.
Has the buyer asked the specific question? Has this come to light? can we have the full background detail please? Thank you
Customer: replied 3 years ago.

No question been asked. Trader/tenant was running stock down when they said they are awaiting news of 3 large orders, and a meeting with Bank. they said if all 4 points go against them then they may leave early. it was a verbal comment and they did say that for all 4 points to go against them would be a doomsday scenario and unlikely.

Expert:  Stuart J replied 3 years ago.

In all property matters, caveat emptor applies. Buyer

The buyer is under a duty to himself to make
prudent enquiries. The seller is under a duty to the buyer to answer any
enquiries honestly although not under a duty to volunteer information and
therefore, based upon the facts you have given me, there should be no comeback.

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