lease transfer fees

[digisatman]

i am thinking of buying a small shop,it is on lease and would anyone one know roughly how much the lawers rake in for doing this transfer?thanks in advance

 

[Aussie Nick]

Yeah I think the Lawers will fleece you but the solicitors are very reasonable. You get what you pay for . Pay peanuts and you are more than likely to get a monkey. A lease transfer is serious stuff.

 

[jberks]

I don't know but I'd imagine a few hundred. It's basically similar to a house sale. Lawyers complete these days so worth a few phone calls for quotes. They may act snobby but deep down, they're just grafters like the rest of us.

One word of caution. Many commercial leases have a clause that makes you responsible for anyone that comes after you. So, take it on, run it for 10 years and always pay your bills, sell it on and 20 years later you get landed with a huge bill because someone you've never heard of didn't pay and the landlord buggered around for 2 years before they kicked them out. Totally out of your control and they take your house! May be worth negotiating that one out before signing whilst you still have the upper hand.