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Old 11-14-2007, 09:08 PM
ImBetterAtGolf ImBetterAtGolf is offline
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Join Date: Aug 2006
Location: The ATM
Posts: 78
Default Re: Real Estate Q: reasonable discount for all-cash (vs. mortgage) offer??

As a Manhattan coop deal, the key thing you can offer him is high likelihood of board approval. That will help only if (A) you actually are highly likely to get board approval and (B) his board actually rejects a reasonable number of buyers.

The board will favor a cash deal, but will be more concerned about your own balance sheet and income statement. Your race, religion, etc. is unlikely to matter one iota unless this is one of a small handful of buildings (and from the price, i am certain that it is not.)

Quick closing is impossible, you can't close until your application is approved by the board and they set the schedule.

My guess is that if conditions (A) and (B) are met, you may trade at a favorable price, but any "discount" will be tiny.
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