Commercial/Industrial Purchasing Information
At PRD Norwest we are committed to provide you with an excellent customer experience when purchasing a property. We understand that this may be your first commercial purchase and with this in mind, we have put together a step by step guide on the procedure involved when purchasing a commercial or industrial property.
1. Once you have found a suitable property submit an offer to the Vendor in writing. This can be simply done in an email to your PRD Norwest agent.
2. This offer will be submitted to the Vendor on your behalf and you can usually expect a response within 24hours. Your offer will include the purchase price and any other special conditions that you may require.
3. Once your offer has been accepted and "terms are agreed" you will be required to pay an initial deposit. This is non-refundable and will cover the legal costs in the event that you do not proceed with the purchase. Once you do proceed with the purchase, this will form a part of your 10% deposit.
4. Upon receipt of the deposit, PRD Norwest will contact both legal representatives and a contract for sale will be prepared.
5. Your legal representative will provide you with advice on the contract and then you will be required to pay the balance of the 10% deposit and "exchange contracts".
6. From here the property will proceed to settlement, generally 42days later, where the balance of funds are payable.
If you have any queries on purchasing a commercial property, please do not hesitate to contact one of the Sales and Leasing Team members.
