Entrepreneurship & Small Business

First time Offer to Lease question

  • Last Updated:
  • Feb 10th, 2019 10:31 am
[OP]
Newbie
Dec 6, 2018
6 posts

First time Offer to Lease question

Got an Offer to Lease for an office, it specifically states that it is binding, and there is a provision that says the tenant agrees to execute and deliver the "lease" which is modified to reflect the terms on the offer.

However, there are some terms that I do not agree to; but to have it changed, or countered, it is required that I sign the offer to lease and provide those disagreements/changes.

Now I am kind of confused on this.
If i sign the binding offer to lease, am I bound to execute the lease even if there is no mutual agreement on the term change that I want on the offer to lease? (Since the offer contains the provision that states tenant agrees to execute and to deliver the lease)
ie:
1 - the offer contains rent is $20
2 - I mark that I want this rent to be $15, sign the offer to lease and it goes back to landlord
3 - it comes back saying no, it can only be $20
4 - what happens now? I don't agree to this, Landlord won't budge, I won't do $20, but I signed the offer which is binding, and the offer contains provision "tenant agrees to execute and deliver the "lease" which is modified to reflect the terms on the offer."
5 - am i fked in a sense that I must do the "Lease" at $20?
1 reply
Deal Addict
Jul 3, 2017
3569 posts
2429 upvotes
A lease is just a contract. If you sign the contract as-is and return it to the other party, it's binding - as long as they have already signed it, or they sign the returned version and provide you with a copy with both signatures.

If you write in your own modifications and initial them, and return the modified copy to the other party, it's up to them to decide whether they accept your changes. They could just initial the changes, and they might do that for a few minor things, but for a lease they would probably generate a whole new modified copy and go through the signature process again.

You should understand that landlords usually get legal advice to draw up a long, complex standard lease agreement, and they aren't going to change it or accept modifications on a whim. If you're still discussing basic items like the rent and the terms, best to sort those out before generating the final lease agreement.

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