Replies to commercial property standard enquiries: pitfalls to avoid

By Siobhan Doherty

Pre-contract enquiries can be time consuming and look cumbersome but replies to enquiries are an important source of information for a buyer, while a seller must be aware that some stock responses can have significant legal implications.

At the start of most property transactions, a prospective buyer will raise enquiries about the property that it intends to acquire. This article explains why replies to those enquiries are important, discusses the meaning of some commonly used phrases and offers practical advice to sellers.

The onus is on the buyer to carry out a thorough review of the property and to spot any potential issues. This is summed up in the Latin principle caveat emptor — let the buyer beware. In commercial transactions, the Commercial Property Standard Enquiries or CPSEs are usually raised. These are a comprehensive set of enquiries that help a buyer to understand the property and the interest that it is acquiring. A thorough set of replies can facilitate a speedy conclusion to a deal…

Click on the link below to read the rest of the Shoosmiths briefing.

Sign in or Register to continue reading this article

Sign in

Register

It's quick, easy and free!

It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.

Register now

Why register to The Lawyer

 

Industry insight

In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.

 

Market intelligence

Identify the major players and business opportunities within a particular region through our series of free, special reports.

 

Email newsletters

Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.

More relevant to you

To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.

Briefings from Shoosmiths

View more briefings from Shoosmiths

Analysis from The Lawyer

  • Hester: declined bonus worth almost £1m

    Pay checks

    Compliance and corporate governance codes for large financial institutions will undoubtedly include provisions to regulate high pay in the future

  • high street 150

    Focus: Alternative business structures - Law and new order

    There’s more to the ABS model than attracting the man in the street and procuring external investment. Partners at the big corporate firms, take note…

Overview

2 Colmore Square
38 Colmore Circus Queensway
Birmingham
B4 6BJ
UK
http://www.shoosmiths.co.uk

Turnover (£m): 92.98
No. of lawyers: 393