The Town of Appomattox, located in Virginia, has decided to sell its existing cell tower leases to a site acquisition company. The total selling price was just over $1 million. While some council members felt the number was low, many members of the Town Council expressed the urgent need for the revenue. According to The News & Advance, “If we don’t get this money, it’s going to put a stop to the plans we’re making, the things we came here to do. While it’s not the best proposal I’ve seen in my real estate time, it’s a means to an end.”
The important question is if Appomattox has received a fair proposal for the purchase of the cell tower leases based not on the rents being paid to the city, but on the value of the cell tower to the acquisition company. The worst mistake any property owner can make is not realizing the true value of their lease. The buyout companies will have you believe that the sales price of your lease should be based upon the rents you are receiving, but what if the rent you are being paid is on a small fraction of the worth of the tower to the acquisition company? Aren’t you just being taken for a ride a second time around?
The worst mistake you can make is not having the information and proper counsel when you are presented such a lease buyout deal. While Appomattox is praising the money they are to receive, they actually have left, at a minimum, hundreds of thousands of dollars on the table because they do not understand the telecom industry.
The problem in this case is that Appomattox was outmatched by a company who performs these transactions on a daily basis. How do you make the best deal and make sure you have the best information? Vertical Consultants provides you with expert representation that will include not only negotiating on your behalf the maximum buyout for your cell tower or rooftop lease (in some cases Vertical Consultants has been able to garner up to 100% more than originally offered), but also assisting you in understanding and ultimately limiting what you are being asked to give up in return when it comes to selling your lease.
The company buying your lease has experts on their side trying to make the best deal for them. Shouldn’t you have the same? Get information. Get representation. Get the best overall deal.