All Topics / Help Needed! / reason for “subject to lease”

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  • Profile photo of JLillianJLillian
    Member
    @jlillian
    Join Date: 2004
    Post Count: 9
    July 30, 2010 - 4:40 am

    Hi everyone,

    I saw a section32 has a condition –  "subject to lease" , want to know except some gov property, what's the other reason for vendor to put this condition? if the property is under caveat, any relationship with  "subject to lease"?  thanks!

    Profile photo of CatalystCatalyst
    Participant
    @catalyst
    Join Date: 2008
    Post Count: 1,404
    August 1, 2010 - 12:47 am

    Maybe the property is tenanted. ie there is a tenant that has a lease. Find out when the lease expires and what rent they are paying. If it is under market rent lower your price to compensate.

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