Loading…
1
My banker's two-week rule for reviewing contracts saved me from a bad lease
Back in March, I was about to sign a three-year lease for a small workshop space outside of Columbus. The landlord was friendly and the price seemed fair. My banker, of all people, told me to take any contract and sleep on it for two full weeks before signing. He said, 'If it's a good deal, it will still be there. If it's a trap, you'll spot it after the excitement fades.'
I thought it was overkill. But I sat on it anyway. About ten days in, I read the maintenance clause again and noticed it said I was responsible for replacing the HVAC unit if it broke, even though it was already 12 years old. That's a $6,000 hit I never saw coming. I asked them to change it and they did, no problem. Now I tell everyone to use the same pause. Has anyone else had a contract change just by waiting a bit?
1 comments
Log in to join the discussion
Log In1 Comment
the_mia4d ago
That maintenance clause got cheaper for them to ignore than you.
2