Okay, Now I’m Pissed
Well, one of the deals I had been negotiating for month fell apart… again.
Very frustrating. We finally had an agreement on our LOI (letter of intent, a non-binding agreement to lay out the basic terms of the deal) and when I submitted the contract, they bailed.
Makes me question their experience as investor. Many new sellers and agents will play games like this without realizing the impact it has on their credibility. This is a fatal flaw, when you are new the only thing you have is your word. Once that is compromised it is very difficult to get established.
My company works very hard to live up to our commitments and deliverables. That reputation is incredibly important in a local, even national, investment market.