Over the years I have encountered many types of styles and
strategies from buyers and their counsel. A common buyer
strategy is to criticize and disparage the asset trying to be
acquired in order to obtain a lower price. This may work on
the first deal, but that may be the ONLY deal you ever do with that
Take for example a developer who is launching a hot new condo
project. Often the initial launch event will offer discounted
pricing and be by invitation only to "friends and
family". Who do you think is on the invite list –
the buyers who have devalued and demeaned the developer's
previous project to get the best deal possible, or the steady
buyers who value the developer's vision and consistently
purchase the developer's offerings? What about
lenders? Every year they have a mandate to lend certain
amounts. Do you think they are actively trying to place these
funds with customers which negotiated every basis point and legal
provision of the loan documentation, or with their customers which
value access to their debt and have used them as a preferred source
year after year on the same terms?
We had a client a few years ago selling bare land subdivided
lots subject to a building scheme. He asked me how he could
ensure as cheaply and efficiently as possible that purchasers would
comply with the building scheme requirements. There were
complex legal options which I discussed with him, such as
registering an option to purchase in the client's favour
against each sold lot exercisable upon a default by the purchaser
in failing to comply with the building scheme. However, I told him
that the CHEAPEST AND MOST EFFICIENT thing to do was to choose his
buyers very carefully and that in his experience he must have come
across a number of buyers that would be interested in the product
and that he could trust. Who do you think was on this
list? A number of our clients look to the same parties to
partner with on new deals every year because of their experience on
the very first deal they did.
When negotiating to acquire something, keep in mind that assets
that are truly valuable will typically be offered to those that
acknowledge their value. How many short lists are you
on? How many would you like to be on?
The Ontario Court of Appeal confirmed that courts will generally support and uphold decisions of condominium directors because they are better positioned than judges to make decisions pertaining to their buildings.
According to the city bylaws in Calgary, the grading of lots for new buildings must be done properly so that the water never flows toward the new building or any other nearby properties, but away from those buildings.
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