Why Choosing the Right Solicitor is Crucial for Your Development Project
Michael Bristow
Sunday Times Hundred/Deloitte Fast50/FT1000 CEO | Strategy/Transformation/Growth-Driving Leader | Strategy/Transformation/Private Equity Consultant | Venture Capital & Real Estate Investor | Board Advisor | NED
In the dynamic world of property development, timing is everything. Every day that a project is delayed can lead to increased costs, missed opportunities and mounting frustration.
A common – yet often overlooked – factor that can contribute to delays is using solicitors without the right property expertise.
Solicitors play a key role at every stage of a property project, from initial planning, to securing and releasing the right funding, to post-completion and exit. Their expertise is vital in smoothly navigating the complexities of property law and, if you need it, construction law, and avoiding legal pitfalls that could jeopardise your project.
What are the benefits of using specialist solicitors?
Engaging solicitors who specialises in property development offers several key advantages:
What else should you look out for?
While the benefits of engaging specialist solicitors are clear, there are a few things to consider:
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Finding the right solicitor
Use your network of other property professionals, asking them who they have had a positive experience with on property development projects specifically. Online property forums will also provide discussions about and recommendations of suitable solicitors.
While we can’t recommend anyone, we have compiled a list of firms that have worked on projects we’ve funded. You must do your own checks and due diligence on any solicitor you consider.
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Act Now
Property development is exciting and can progress quickly with the right team in place. Ensure your solicitor is part of the team supporting your success by choosing wisely and engaging them now. We can also be part of your success by providing specialist finance supported by our own property expertise and experience. Talk to us about your project now so we can help you get ahead of that September rush! Apply for funding in?just five minutes and get an instant Decision in Principle* today, or call 020 3012 0166.
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*Instant DIPs will not be issued for projects where the loan amount is greater than £3.5m (or £3m if bridging), the profit on cost is below 5%, the loan amount is less than £100k, the loan term is greater than 24 months, if any required data is omitted, or the loan type is portfolio acquisition, special situation, planning gain, or project refinance.
It's great to see the property market gaining momentum. A solid legal partner can really make a difference in navigating this surge. The guide you've put together will surely be invaluable for those looking to make informed choices. What key factors do you think clients often overlook when selecting solicitors?
Connecting Funds to Property Developers | Real Estate Finance Lawyer
4 个月Couldn’t agree more! Solicitors have a rep for holding up deals but finding a talented lawyer who is proactive and can make things happen as well as legally protect your business m is invaluable. People moan about legal costs but I always say “you get what you pay for..”!
Associate at Lawrence Stephens- Real Estate Finance, Residential and Commercial Real Estate
4 个月Informative guide Michael! It can be easy to underestimate/ overlook the importance of a right legal assistance when the entire focus is to get the deal done!