Oh man this process is grueling! We are still working on the same location from the last post. We have gotten farther with this place than the first two meaning we have a signed conditional deal. There are also more parties involved in this transaction than there normally would be. Normally when you buy an existing business you assume their lease. In the case of this place, their lease was coming to an end anyway so we are negotiating a new lease with the landlord. So here are all the players: Davina and me, our realtor, our lawyer, the business seller, his realtor, the landlord, his leasing agent and his lawyer. Say that 10 times fast.

So the purchase (of the business) is conditional on us signing a lease with the landlord. The conditional period ends today so this post was supposed to be the one telling the world we got the space. However, the landlord is out of town or sick or at a movie or something and isn't available until tomorrow, so our lawyer wants our realtor to get the seller's realtor to agree to extend the conditional date until Friday. Meanwhile, Davina and I will both have to sign something to that effect which requires printing, signing, scanning and e-mailing since she's in Vancouver at the moment (3 hours behind us). Clear as mud?

Assuming (fingers crossed) this all goes through on Friday then our closing date is December 20 for the purchase of the business. Hopefully we'll get a short period free of rent to fix the place up, clean, paint, create a play area, all that good stuff and then we open!

Who wants to come to a painting party?

Leave a Reply.