Once again the landlord steps in and muckyups the deal. But we always get through.
Let’s take a look at your lease and make sure you are free and clear to assign the lease to a new owner. It is so important that you understand your lease. And if you are running your business on a month to month basis with the landlord, because you think this way you are not committed to them, you may be wrong. I just recently did a deal and the sellers had no lease MTM, so the landlord comes in and when writing a new lease for the buyer, he almost doubles the lease payment!!!!!! What you say, can he do that? Absolutely, there is no lease in place so he can now do basically whatever he wants. Now to compound things, the seller had not seen a rent increase in 7 years, whose fault is that, not really sure. So after many hours of negotiations, the landlord raised the rent considerably but reasonably and had the seller pay a larg one time back rent fee at closing, in order to get the new lease written and acceptable to the buyer. Please see me at www.sellmybusinessportstlucie.com or visit the company web site at www.acquisitionexperts.com
OK, Ted & Bob saying have a great day.