Mr. Bronchick - Posted by Sal

import · November 23, 2003, 8:11pm

Posted by Sal on November 24, 2003 at 20:31:34:

Thanks for your reply.

import · November 23, 2003, 8:11pm

Posted by Sal on November 23, 2003 at 21:11:54:

Mr. Bronchick,

Need to ask your opinion on where a “subject to locating and qualifying tenant/buyer” would be placed on a Lease W/Option? Would it go on the lease agreement without mentioning the word “buyer” or go on the Option agreement without mentioning the word “tenant”?

My thoughts are it should go (if used) on the lease so that if qualified tenant cannot be found, then the whole deal if off.

Or should it be stated on an addendum?

Your thoughts.

Sal

import · November 24, 2003, 9:36am

Re: Mr. Bronchick - Posted by William Bronchick

Posted by William Bronchick on November 24, 2003 at 10:36:40:

I don’t recommend you make your lease with the owner contingent upon finding a tenant. This type of arrangement makes your agreement like a “listing”, which gets the attention of your state licensing dept. Rather, know your market, negotiate a good deal and go with it.