Legal Question in Business Law in Virginia

I am opening a restaurant in VA in which I am completely brand new to the real estate portion of the Business. I found a space I want to lease in which I am in the paperwork process of the space. I was sent a Letter of Intent which states basic things like duration of lease, price per sq ft and other broad things. IDK if I am suppose to sign this regardless of things that are stated because I can negotiate this in the future or if I am suppose to negotiate this letter of intent also. I don't know if what I am saying makes any sense at all. I am just lost at what I am suppose to do at this moment in my journey.

Asked on 4/13/21, 9:29 am

1 Answer from Attorneys

Daniel Press Chung & Press, P.C.

You negotiate the letter of intent. BUT this is likely the most important legal transaction you will ever be involved in. Get a lawyer exprriencrd ib commercial leasing to advise you, now.

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Answered on 4/14/21, 3:10 am

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