I am purchasing a business where there is an exisiting 3 year retail lease term and we wish to transfer this lease to my company. The agent is charging a professional fee of $1,250 for processing the apllication. Who is responsible for this? The existing tenant or me?
We need a little more info chad.
Are you purchasing the business from the old tenant (Eg owner occupier) or are you purchasing the building with a third party tenant installed.
If there are only two parties involved in the transaction (you and the seller) then this could be negotiated between the two of you however if the tenant is just a spectator to the transaction, you should probably pay.