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Old 03-01-2003, 10:51 AM
southernfriedcj southernfriedcj is offline
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Default Re: #648

Quote:
Originally posted by Snacol



One more thing don't come with 30 it ain't gonna happen
Yet.

I have sold many cars, new homes, and tracts of land, and more than once I wish I would have taken a lowball offer that I had turned down earlier. I got an offer of $1.3 million for a subdivision I(my company) have on Lake Hartwell. We made some bad decisions and had some bad luck with the project, and now a year later I've got it sold for $1.1 million. Only a $200k loss! If we accepted the 1.3 million $ offer, we would have actually made a couple 100k! We incurred 14 months of interest carry, and all development costs AFTER the lowball offer(almost forgot about 14 months of stress).
Moral of the story: in this market if somebody comes along with ready cash, you might consider how the offer would look to you if you still have the car in 6 months.