There is nothing quite like a face to face meeting
The Situation: Kensington was engaged to sell two Dunkin Donuts in New Jersey, and quickly found a buyer. The buyer and seller came to an agreement on the price and shortly signed a contract. When it came time for the landlord to assign the lease to the buyer, the landlord insisted that the new buyer sign a personal guarantee, and increased the security deposit from 3 month to 6 months. This was a deal killer for the buyer
The Result: For three weeks there was back and forth communication between the buyer’s and landlord’s attorneys, with no progress. The Buyer was ready to move on and wanted to discuss other opportunities. Kensington insisted on a meeting with the buyer and the landlord as a last ditch effort to make the deal happen. The meeting turned into a love affair between the landlord and the buyers as the landlord had learned that the buyer was already a Dunkin Donuts franchisee, and had a very impressive net worth. The two sides agreed to a reduced personal guarantee term and a security deposit of 5 months, and the deal closed a few weeks later.