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Alex J.
Alex J., Solicitor
Category: Property Law
Satisfied Customers: 3695
Experience:  Two years conveyancing experience.
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Is it "standard practice" that the buyer pays the Legal Costs?

Resolved Question:

Is it "standard practice" that the buyer pays the Legal Costs? Got the letter from the agent regarding an offer I put in for the business in question..
- Because this is a Leasehold purchase - It is normal practice for the purchaser to undertake
to pay the Landlord’s solicitor and managing agent’s reasonable costs relating to the reassignment of an
existing Lease or the production of a New Lease.
Submitted: 2 years ago.
Category: Property Law
Expert:  Alex J. replied 2 years ago.
Hi,
Thank you for your question and welcome.
If the seller to you is the leaseholding tenant and you are being sold a business lease, then yes it is standard for you as the buyer (assignee) to pay the landlords and managing agent costs.
I would however insist that they agree a fixed fee for their costs and you do not allow them to demand an indemnity from you.
I look forward to hearing from you.
Kind regards
AJ
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