Agreeing Terms & Drafting Heads of Terms Documents
When it comes to agreeing terms for a new lease or property sale, it is essential to know what needs to be agreed by the parties and what should be left to the solicitors to agree.
Professional Commercial Estate Agents use a Heads of Terms Document and whilst each document is unique to the property, business and negotiation, they invariably work off a template that is edited accordingly.
Heads of Terms documents will show the parties involved and the main terms of the agreement, including any conditions. Therefore a correctly drafted Heads of Terms document is essential to agreeing and finalising a negotiation and will form the basis for the agreement and the terms of the sale or letting, so there is no confusion later on.
By preparing a draft Heads of Terms Document during the negotiation, it is a useful way to document an initial proposal, which allows all parties to edit the document and proceed without confusion with a view to instructing solicitors at a later date.
The remainder of this document is available to customers who have purchased a Virtual Commercial Package.