Please Don’t DIY!

STICK TO WHAT YOU KNOW

Everyone is trying to save money where it is possible to save it. However, in my work I am seeing more and more people choose not to employ the correct advisors in order to save money. The inevitable upshot of this is that it costs more in the long run.

Usually where clients try to cut corners is with accountants and solicitors.

I am a great believer in speaking to and taking advice from the right person. Because I sell businesses I know my way around a set of accounts but I wouldn’t dream of doing my own…I don’t know the current rules and legislations surrounding all of the component parts. Subsequently, I pay a good accountant (I have to say that he might be reading this) to take care of our financial affairs. It would cost a lot more in time and money if I didn’t.

My top advice for this post is to use a solicitor when one is required and the right solicitor too! I had a client in the past who used a family law specialist to do commercial conveyancing tied into a business sale. It did not go smoothly and nearly fell apart at the last minute.

Do NOT, never, never ever print leases off the internet! There are very few websites that offer good leases but drafting it up properly to reflect the correct circumstances and stay the right side of the law is certainly not straightforward. You wouldn’t take on the conveyance of your own home and commercial property lettings are a lot more in-depth than a residential Assured Shorthold Tenancy. If you are dead set on supplying and drafting your own lease be prepared for the other sides solicitor to send it back again and again and again. The more work they have to do on the lease the more they will charge their client (depending on how they charge) and the more this is likely to upset them. The easiest thing to do is get in touch with a good solicitor from the outset, it will save you money, time and stop you from pulling your hair out…afterall, you don’t see many bald solicitors!

Ask friends and colleagues for recommendations and if you get stuck feel free to give me a call, I am always happy to help and make recommendations.

Jason Roberts writes for Roberts Commercial Ltd. Commercial Property Consultants and Business Transfer Agents in North Tyneside.

Jason can be contacted on 0191 280 3285 or directly 07727 699 604 jason@robertscommercial.co.uk or fill out the contact form

www.robertscommercial.co.uk