Wednesday, May 25, 2011

2 contracts, 2 deals

well, we finally made some traction on two recent deals -- one is a single family and one is a condo. both are moving along and are well into financing.

the single family deal was pretty easy to get done. there was a little negotiating, but we settled in at a price that was actually lower than what i had modeled, so we should be getting some decent returns on that property.

the condo was a bit of a pain. the condo owner was an out of town owner in a different time zone, so negotiating took longer than what i'd like. in addition, his agent was really bad and didn't communicate the finer points of our offer very clearly. for example, after we made an original offer, the seller countered. well, to get to where we wanted to be, we negotiated with the agents to come down off their fee a bit and then could submit a lower offer than what we had originally submitted. the actual proceeds to the seller would be higher than our original offer. the seller saw that we had moved down and then re-countered back to the original list price! first, the listing agent should have communicated what was going on to the seller. second, once the listing agent got the counter back, he should have realized what had happened and explained it to the seller at that point. instead, he just brought the counter back to our agent. just goes to show you there are buffoons in every industry.

in any case, we are on track on both of these units. and, more are coming out of the woodwork every day.

1 comment:

Nick Jacobs said...

I can never get my money back when airfare drops, the airlines always find some way to charge you, even when you think you're getting a good deal!