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#458650 - 08/08/17 07:35 AM LOI questions on a commercial lease
zpcsc Offline
Veteran Member

Registered: 08/29/05
Posts: 795
Loc: Florida
Hello, I sent a letter of Intent to the landlord, he sent another letter back with totally different terms. I discussed it with the potential tenant and we need to revise some of the terms. What is the process on that? Do I use the same letter that they sent and write in the changes? Do I speak to the other agent? I asked my broker but he hasn't replied.

Thank you.
_________________________
Zoila Perez-Chanquet
Concept International Realty
www.downtownmiamicondofinder.com

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#458692 - 08/10/17 03:16 PM Re: LOI questions on a commercial lease [Re: zpcsc]
El Luchador Offline
Member

Registered: 05/01/07
Posts: 236
Hello Zolia -
When you send an LOI to the Landlord, typically they will "red line" your LOI, redlining (crossing out) the terms they do not agree with and replacing with terms acceptable to them. It's not completely unheard for a broker to send the landlord an LOI, and they respond with their own LOI...basically they want to do the negotiations using their template document on their letterhead. From here you should redline the document as referenced above which allows both sides to track the changes. To do this to to the Review tab at the top of the Word doc, and then click 'track changes.'

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#458774 - 08/15/17 04:43 AM Re: LOI questions on a commercial lease [Re: zpcsc]
zpcsc Offline
Veteran Member

Registered: 08/29/05
Posts: 795
Loc: Florida
Thank you, yes, they did send their own LOI when I submitted mine. Now I know for next time. I did redline the changes and we are still waiting.

Thanks again.
_________________________
Zoila Perez-Chanquet
Concept International Realty
www.downtownmiamicondofinder.com

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