Commercial Offer to Purchase

[Mason Clark]

I need some recommendations or advice. My business partner and I offered a cash purchase for a smaller commercial property. We made the offer based on the numbers we were given for current rents and vacancies. We made the offer and the listing agent sent me an update with numbers before he was going to submit our offer Turns out the new numbers adjusted our NOI to 1/3 of what we were expecting. How should I move forward? When I met with this listing agent he said some of the MTM leases weren’t originally included in the rent roll which was great because we would be expecting to get more than the NOI we projected. Now all of a sudden the total rent including the MTM is 1/3 of what we expected. Any thoughts or recommendations would be great. I’m not sure it was meant maliciously just to get more offers or not but that’s how it feels. Mason

[Zach Quick]

@Mason Clark It's not clear if your offer is in writing or just verbally? If it's verbal, you don't have anything to worry about.

And, if they are in writing, I'm sure there are contingencies that you can back-out of.