Commercial Property For Sale

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We recently re-signed our lease for a 1 year term beginning Aug 1 06, shortly thereafter, our landlord placed the property up for sale. Our property is zoned commercial and I think that's why he did so. Should someone other than a prospective landlord purchase the house, where does that leave our lease?

Best Answer

If he sells the property, the lease will be invalid. Leases like all contracts can be broken and the consequences depend on laws in your area. Seems like you should have a discussion with the owner to find out what he has in mind. You should receive some compensation and negotiating directly about what that might be just sounds smart. In some areas rentals are most plentiful in the summer so perhaps just waiting to see what happens may not be the best thing to do.

Is there a 3 day attorney review clause for the sale of commercial property in NJ. Are there different rules for residential and commercial when it comes to drawing up contracts ?

Best Answer

Are you a real estate agent or a buyer?

I live in Oshawa, Ontario

Best Answer

??????

Does anyone know of any websites that might be free and helpful for me to search in to see if any properties are for sale that would fit my conditions?

Best Answer

http://www.google.com/local?hl=en&lr=& q=commercial+real+estate&near=Avon,+IN+46123& sa=X&oi=local&ct=title http://www.remax-excel-avon-in.com/

estimated worth of property is 6 million.

Best Answer

Very negotiable depending on the sales price. High end=2%-3% and at the last minute the commission can be butchered just to hold the deal together. Lower end pricing can go up to 10%.