Home starts at 2.8m.
Home listed for a very long time, call it a year, with Zero offers. The home is sweet, built well, should stand for years to come, it is new. Bank is owed 1.6m. Partners invest over 700k, there is 2.3m in costs total. First offer, from a real buyer, of course they want a killer deal comes in at 1.6m. First loss is to the partners, bank cares not, they get to lose 700k right off the top.
There is a second of 50k, and some other little clean up deals that come to another 50k.
One of the negotiator people working for the seller, dealing with the bank got the 100k of people aching to get some, to 35k. That with the commission would have made the bank eat 135k.
They decided to say no. They are ok with everyone else losing, but they will not accept less than 120% of their money. Buyer goes away. Bank calls 3 weeks later. "Where is the buyer? We were negotiating right? Isnt this the game?" No, the buyer made their offer, they are moving on to another home, you passed on a perfectly good buyer in the luxury market today.
"Call them back. We want to deal."
New offer comes in at 1.45m.
Bank accepts.
Showing posts with label Go On Strike. Show all posts
Showing posts with label Go On Strike. Show all posts
Wednesday, August 20, 2008
Monday, August 18, 2008
And then there is this...
It is really amazing the types and ranges of stories that are leaking out of the cracks from all the angles. Some are sad, some make you think, and then there is this one, that makes you want to smile. Not because you are happy to see some one in pain; but because you cant help your self from finding humor even in the darkest of times.
The article:
Subscribe to:
Posts (Atom)
- Elvis
- Portland, Oregon, United States
- We have built homes and developed land. Now we fight to survive. Please take the time to vote on the poll. Please visit the builders forum. Please email me a story. Have a great day.
Posts
