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.
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