I am in the process of hiring a broker and he has included a phrase in the contract stating that I would need to pay a 6% commission on a lease of the building, payable up front through escrow, if a buyer only wants to buy the business. He is stating that this is standard in sales of businesses.
Hi D –
While commercial leases are almost always negotiable, you should always have an attorney review documents prior to agreement to see if this rate is within common practice in your area.
You must be logged in to reply to this topic.
Not signed in?
Sign in to participate on our website!
315 Madison Avenue, 24th Floor
New York, NY 10017
Disclaimer: We spend hours researching and writing our articles and strive to provide accurate, up-to-date content. However, our research is meant to aid your own, and we are not acting as licensed professionals. We recommend that you consult with your own lawyer, accountant, or other licensed professional for relevant business decisions. Click here to see our full disclaimer.
Product or company names, logos, and trademarks referred to on this site belong to their respective owners.