We begin the negotiation phase with a “broad brush” approach in which we communicate with the listing brokers of properties selected by our client regarding the two components of their lease: economics & terms/conditions. We negotiate in a fair and honest manner as we” level the playing field” for our client.

The initial phase of the negotiation process has to do with agreement of economics (i.e., rental rate and tenant improvement allowance). This phase of the process determines the client’s decision to either move ahead with the particular property of interest, or pursue other properties.
 
Preliminary discussions with Landlord’s/Seller’s broker
prior to forming a lease or purchase contract:
 
The terms/conditions phase is more protracted due to the large number of key issues that are important in order to protect our client’s financial well-being with regard to the real estate portion of their dental practice. Our role is to make sure that all of these business points are agreed upon between the landlord/seller and our client prior to the formation of a lease or purchase contract. Because we are experts in negotiating the business points in dental lease/purchase contracts, it is customary for Gelfand Group to require certain terms/conditions also be agreed upon prior to the formation of a lease or purchase document. These terms/conditions are pivotal in protecting our client’s interests. Should there be no concession from the landlord/seller, we meet with our client, and explain the perils involved. As the client understands the high risk entailed, he/she not move ahead with a property whose terms and conditions are perilous to their financial well-being. Should that be the case, we will then proceed to brokers of the other properties of interest and repeat the “preliminary” phase.
 
Receipt of initial lease or purchase document from landlord’s broker:
 
When agreement has been reached regarding economics, as well as terms/conditions, the landlord/seller presents the initial lease or purchase document. We thoroughly analyze the entire document relative to all business points negotiated by Gelfand Group for previously agreed-upon items between our client and the landlord, or seller, and identify any areas in need of negotiation to protect our client’s interest in the transaction. After we identify any discrepancies, margin notes are included in the lease or purchase document indicating the needed additional revisions. Discussions are held with the landlord’s/seller’s listing broker. Our goal is to reach agreement with the landlord/seller by resolving the previously-noted discrepancies necessary to protect our client’s interests.
 
Evaluation of proposed lease or purchase contract:
 
A meeting is held with the client to evaluate the proposed contract. Because of our wealth of knowledge regarding the often obscure nuances of lease/purchase contracts, we explain in non-real estate language, how the contractual conditions can affect practice profitability, whether positively, or negatively. When the client has a clear understanding of all implications of the lease/purchase contract, we collaborate with the client as we develop a final negotiation strategy reflecting the client’s individual criteria, while focusing on protecting the client’s interests.
 
Resolution of contractual items for preparation of final lease or purchase document:
 
When all contractual items have been resolved, we request a revised lease/purchase document reflecting the final changes agreed upon. We proofread the final lease/purchase document for any errors regarding business points previously agreed upon, and take appropriate action to resolve the discrepancies.

The final lease or purchase contract is ready for legal review by client’s real estate attorney of choice.

STEP SIX: Final Agreement & Contract >>