As many companies, particularly retailers, seek to monetize assets or at least leverage valuable real estate assets, we are witnessing increased popularity of sale leaseback transactions.… Continue Reading
During a recent forward sale transaction a client declared “Forward Sales should be illegal!”. What prompted this outburst was the limited ability of a buyer under such an arrangement to withdraw from a transaction and some often unforeseen grey zones.… Continue Reading
It has been said that when you’re negotiating to buy something, you’re also selling. The negotiated acquisition involves trust and risk for the seller. As a buyer you are selling yourself to the seller as a party that the seller should do business with.
Over the years I have encountered many types of styles and strategies from buyers and their counsel. A common buyer strategy is to criticize and disparage the asset trying to be acquired in order to obtain a lower price. This may work on the first deal, but that may be the ONLY deal you ever … Continue Reading
If you are purchasing a property, you should be sure to ask your lawyer to find out if there are open building permit files with the municipality affecting the property. Similarly, if you are selling your property, before closing, you should be aware that you may be required by the buyer to have any open permit files closed. The Ontario courts recently decided that open building permit files pose a significant risk for buyers and form the basis for valid objections to be made of a seller (see link below). If a seller is unable to have the permit file … Continue Reading