If on the addendum to lease it says,
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If on the addendum to lease it says,
It is a commercial property.
Asked on January 22, 2019 under Real Estate Law, Arizona
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 5 years ago | Contributor
Based on what you write, if there already an agreed-upon price (e.g. one in the lease), they'd have to sell it to you; the wording you quote gives you the option (makes it your choice) so long as a price is already set/determined.
If there is no currently agreed upon price, however, then this provision is meaningless: there has to be a mutually agreed-upon price before you can exercise your option to buy, so if there is no agreed-upon price, there is no option or right to buy the property. All this would then amount to is an invitation to negotiate and see if you can't agree to a price and a sale.
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