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Updated about 4 years ago, 10/27/2020

User Stats

75
Posts
7
Votes
Greg K.
  • Specialist
  • Boston, MA
7
Votes |
75
Posts

Negotiating a specialized deal with a major bank

Greg K.
  • Specialist
  • Boston, MA
Posted

I know it's quite common that when the owner of a property gives you full permission to negotiate on their behalf, you might find yourself in contact with some person, who is in turn, representing the interests of a major international bank, that holds a significant amount of interest in the property's equity via a mortgage(in this case a securitized, sub-prime, sold and re-sold many times mortgage).

It would be very common in this situation to arrange something like a Short Sale.  However that particular type of arrangement was not suitable, yet the bank is quite keen on liquidating their asset.  So they said to me:   "Give us an offer.  Make a proposal"

It seems as though they are willing to concede anything imaginable, but I have to draft the proposal.  No problem I will.

Question:  When sending a preliminary proposal over email, summarized in layspeak, would adding the standard 'This email in no way shall be interpreted as a contract to.....etc" be sufficient protection from even the most advanced legal 'gotyas' that might get thrown at me?   Has anyone ever experienced anything damaging that survived such a clause?  The party negotiating for the bank is an attorney and is currently in the midst of some rather novel litigation against the property owner.

I already plan to have an attorney that specializes in this field, licensed in my state look over the proposal before i formally offer it.

Can anyone recommend a resource for reading up on best practices and/or precedent for such situations?  Be it speaking with the other side over the phone, via email, in front of a judge, or in lieu of in front of a judge?  (all of these scenarios are plausible in the near future).

Thanks!

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