We solve tricky deals, here’s the proof.
Ken’s wife was pregnant with their first child. He was leasing a warehouse in Milton and wanted to buy rather than keep paying someone else’s mortgage. But he was nervous about tipping his hand. If he asked his landlord to sell and they said no, would they still renew his lease?
He asked anyway. The leasing agent dodged the question for weeks before the landlord’s lawyer sent Ken a new lease to sign. No answer. Just pressure.
While he was waiting, the owner of the next door warehouse mentioned they were looking to sell. Ken was interested, but the situation was complicated. Their tenant was paying well below market rent on a multi-year lease. Unusually, their tenant also had the right to leave early or extend at that same low rent. With a baby on the way, Ken couldn’t afford to carry two properties on a below-market tenancy.
We drafted a special condition in the purchase contract that covered all three scenarios, early exit, full term, or extension. Ken knew exactly where he stood regardless of what the tenant decided.
He moved his business in five weeks later, after satisfying finance and due diligence.
Book a call and we’ll walk you through exactly what to look for before you sign.
