Wednesday, March 31, 2010

Another One Bites the Dust..But the Sun also rises

Real bummer week.

We followed up with another option for the north facing piece of land owned by the stepson of te southern lot. To recap, the south facing landowner rejected our original 6% discounted offer. Unfortunately, it turned out he has no intention to sell.

Thus we proceeded with the original owner on Tuesday with a bid worth 99% of the asking price. No go.
In order, to close the deal the agent was willing to take the hit on his commission if we fully met the asking price. We were fine with that as he essentially agreed to subsidize the difference---(their incentive is to get the building contract). So at this point, my overall feeling was that the deal would be done.

Well, I was wrong. The owner refused to sell for reasons still unknown.
Maybe she did not like the negotiating process.
Maybe there are other factors.
I must admit, it's not all too clear when you have an agent who speaks to another agent who speaks to a lawyer who represents the owner. That being said my agent, being more straight-forward than usual, admitted that he felt that the owner was not quite all there.
He is also upset.

Am I disappointed?
Totally gutted. Considering all the research and paperwork. I admit, I was starting to become emotionally attached to our future vision of a home.

So would I do anything differently?
I don't think so.
Negotiation is part of the due diligence process of securing a fair price.
Although disappointed time is on my side and I'm confident some other opportunity will arise.
I'm already revising my land scorecard to see what else is down the list...:)

I will share the scorecard and the time line of events of this latest on my next post. Stay tuned.

1 comment:

  1. Perhaps you are in the wrong market? I hear Romney, WV has some beautiful land these days. Cheap, good water, stable land, great soil! ....Oh and i know a family there that is buying a farm together... LOl.

    How cool will it be to be able to go next door for dinner with your brother and parents and all the family?

    Best of luck to my kichijoji family!
    your cousin