395 unit Multifamily issue with seller

[Paul Fagot]

So Me and my partner got these properties as a package deal in Atlanta,GA has 2 multifamily apartment complexes total of 395 units for $17.6M with a 9.2% CAP 91-93% occupancy and has a grant more almost $6M for anything the complexes need. But only way for a buyer to get anything important like rent rolls or other financials the buyer must provide a POF. It's been off the market for maybe a month and a half. Me and my partner found an all cash buyer who spent all week to get the POF for $15M from there bank and the seller didn't accept the POF. All the buyer wants to see is the rent rolls and financials. Plus the buyer is very interested in the property. I just don't understand why the buyer wouldn't even budge or accept the offer to just show the POF. The buyer can get someone else to lend him the extra cash but the seller won't allow or want to deal with that. So now the buyer has to figure out a way to get $17.6M. This seller is frustrating us. Any advice on what we should do or advice I could give my buyer? Seller pretty much lost a buyer when the buyer could've gotten the extra cash if everything works out.

[Russell Brazil]

Sellers of this type of property are really only going to deal with commercial brokers