Input Needed

I recently made an offer on a non-income producing commercial building in San Diego. The building has been vacant for approximately three years.

I made the following offer:

Term of lease and option:: One year
Monthly Payment: Due to start 90 days preceding the move-in of a new NNN Sub-Lease tenant.
Purchase Price $3,500,000.00

TERMS: Seller agrees that upon the exercise of the option they will accept the full purchase price by taking as full purchase price a note in the amount of $3,500,000.00 with payments due to start 90 days preceding the move-in of a new NNN Sub-Lease tenant. Additionally I offered to facilitate placing the note so the seller would be cashed out.

SELLER ANSWER: The seller just wants to sale it and move on.

QUESTION: How would you sweeten the deal to get the seller interested?


[ Edited by waterfront on Date 05/28/2005 ][ Edited by waterfront on Date 05/28/2005 ]

Comments(3)

  • norrist28th May, 2005

    Sounds like the seller may need to be educated a bit on how such a "deal" may benefit him/her. The response you garnered seemed a little flippant. To me, this is usually indicative of ignorance, not disinterest. How about offering to buy lunch and really detailing how it makes sense.

    Just my 2 cents...



    _________________
    Best regards,

    Tim[ Edited by norrist on Date 05/28/2005 ]

  • waterfront29th May, 2005

    Good one! In these days and times we sometimes forget the little things. Thank you.

  • norrist29th May, 2005

    Let us know how/if it works out!

    Tim

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