I want to get some advice on a situation.
We have found the "perfect" place for our needs and would like to secure it. The problem is, we are a pre-startup company, as in we don't really have any financing yet, and we are still even revising the business plan. We plan to wrap up financing within 1 month.
This perfect place is not only a great spot, but also comes partially equipped for our needs, which would save us a great deal of start up capital.
I met with the agent and went to see the location. He claims that they just lowered the asking rent from $7,500/mo to $5,000/mo (reasonable, it is a 6000+ sq ft space). The space has been closed for almost 2 years. I told him I was somewhat interested, and he mentioned that he has been in negotiations with another party for a few (2-3) weeks, and that they are at the point of agreeing upon a price. He then told me that it is a family operation led by two brothers, and that every negotiating point is a hassle because the family can not agree, and thus negotiations are moving more slowly. He said that within about 1 more week, they would probably close the deal or drop the potential tenant (or they would drop out themselves).
I really want the space, but there is no way I can sign the lease without having funding first. I've considered offering a holding deposit for a few months, but I feel like the offer would be pointless to them considering they have a potential tenant on the other side. Also, I don't know how much BS realtor trickery is laced in his story to make me rush to a decision.
How should I go about doing this? I've read about sending a letter of intent to show interest and seriousness. To the same effect, I already requested the lease so I could "have my attorney review it." I don't want to lose this spot, but I can afford to go all in with it yet. Any advice it appreciated!