The business premises purchased may comprise real property, an individual apartment in a joint-stock property company, or the entire capital stock of a property company. The business premises may be acquired directly so that the company owns them, or may be purchased by people active in the background of the business for further leasing as business premises.
A successful transaction is based on careful preparation. A real estate agent often assists in the acquisition of business premises, and the agent usually prepares the sales contract. The agent will even assist in other legal matters related to the transaction. The seller is obliged to provide correct and sufficient information on the object of purchase, such as its technical condition and land use planning situation. In addition, the seller is obliged to inform of any defects and faults in the premises, if known to him/her.
The purchaser is obliged to familiarise him/herself carefully with the object of sale, and inform the seller of any special expectations of, or requirements for, the premises. You should also find out whether any responsibility for the property company’s loans is transferred to the acquiring company in the sale.