Additional Info: We are looking into purchasing a building in Newton that is zoned commercial to use for our business. The current owner just signed a 3-year lease with the lessee that is currently occupying the building. Can we make an offer on the property contingent upon negotiating to have the current tenants vacate? Or do the current tenants have legal rights to stay through their lease term?
A purchaser of commercial real estate takes title to the property subject to any existing leases. It is certainly within the realm of possibility to make an offer to purchase subject to negotiating with the current tenant to relocate, making the desired space available. If I were representing the seller, however, I would counsel a very short time period for such negotiation to occur, and would insist that the buyer (you) bear all costs related to the possible move by the existing tenant.