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Updated about 4 years ago, 10/27/2020
Negotiating a specialized deal with a major bank
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!