Know when to walk away in commercial property negotiations

Know when to walk away in commercial property negotiations

North Carolina business owners wanting to purchase or lease commercial property in Lincoln and the surrounding counties have their work cut out for them. At times, it may seem as if the right location will never come up. It can be relieving when the one that will work best for your needs finally comes across your path. Of course, while it may be just what you are looking for, you may still have hoops to jump through.

In particular, when it comes to buying or leasing commercial space, the terms of any agreement are essential. In some cases, buyers may feel overly attached to a property and willing to do anything to buy or lease. However, it may be more important to know when to walk away.

Negotiations and what is right for your business

If it has taken you a considerable amount of time to find the property that best suits your needs, the idea of letting it get away may seem unfathomable. That being said, coming across as too eager or feeling the urge to accept any of the seller’s terms for the sale or lease is typically not the best course of action. You could end up getting yourself and your business into a difficult spot by agreeing to terms without consulting an attorney first.

Keep in mind that negotiations are common in commercial real estate transactions.  If possible, negotiate terms that are beneficial to everyone involved.

Protect yourself and your business

While mutual respect, understanding and a win/win approach could prove helpful during negotiations, remember that you and your business have needs and interests to protect. Even if you want to negotiate in a way that is beneficial to everyone involved, it does not mean that you should put yourself or your business in a difficult position for the sake of the seller or landlord.

If you have questions or concerns about effectively negotiating a commercial lease or purchase, remember that you do not have to go through this process alone.

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