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Updated almost 9 years ago on . Most recent reply
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First Offer -Wording on the LOI for owner occupied unit
Hi. I'm working on presenting a LOI on my first commercial piece hopefully by tom'w. Now, I discovered i forgot sthg . The property has an owner occupied unit. I'm having trouble with wording on the LOI to give me time to find a tenant for his unit before closing. IS THIS COMMON to request? i don't want to kill the deal because it is a good deal but i need that rental income. Thanks all.
Most Popular Reply
what percentage of the property is the owner occupied piece? Would the seller consider doing a lease back? Selling the property to you and leasing his space for X months to give you time to find someone to fill it? This is not an unusual request. I am doing that with a deal I am working on right now.