Buying premises

1. What are the advantages and disadvantages of buying a freehold compared to a lease?
2. What restrictions are there on how I can use or alter premises I buy?
3. What costs do I need to budget for when buying premises?
4. How do I find out what the continuing ownership costs are likely to be?
5. How high are stamp duty land tax and land registry fees?
6. Will I have to pay VAT on the purchase of premises?
7. How do I make an offer to buy premises?
8. How can I negotiate a lower price?
9. How can I protect myself from being outbid by another purchaser?
10. What does a property search include?
11. What other legal due diligence should I expect my solicitor to carry out?
12. What survey do I need?
13. Are there any checks I need to carry out myself?
14. What happens if the purchase includes items such as equipment as well as the premises?
15. What happens if I am buying the premises as part of the purchase of an ongoing business?
16. What is the difference between exchange and completion?
17. What happens if I want to pull out of the purchase after exchange?
18. What happens if the vendor pulls out of the purchase after exchange?
19. What rights does taking out a mortgage give the lender?