Hey everyone I have been in a situation lately which forced me to reflect on what we call distress deal.

TD:LR a family was forced out of their home but had to deal with vaulters trying to lowball their home value

I had one villa (not going to disclose any information about it as it’s not relevant) the market value of it was from 12 to 13 million. Beautiful piece of real estate. Corner plot way bigger than average in the community. The sellers were one month away from foreclosure due to not paying their installments with the developer. So the devloper gave them a grace period for a month to either pay or sell. Adding to that it was a family home so when I went to meet them the father has already travelled back to his home country and only the mother and the kids are left. During that meeting when i was walking around the house you see that it was not meant to be sold I was not seeing a house and furniture I was seeing a family’s life. From school books laying around to trophies from competition and athletic events and toys on the floor. And even one of the kids was really upset so i tried to make a small conversation with him and he cried and said I hate you. You are making us leave our home. I am not gonna explain more i hope you i set the scene for what comes next.

So couple of days later I invited an investor and i stressed that this has to be a fast cash deal because they will loose all what they have paid if they didn’t sell. The guy came with his accountant and decided to make an offer for 8.5 million and brought their cheque book said that they can transfer tomorrow. After they left i stayed with the house owner for a bit and she was contemplating the decision wether to accept the offer or not in her words “it’s sad that after 12 years in Dubai putting everything we had in this house that we have to leave empty handed, even my kids have never been to our home country before now they have to live the same life that we intentionally wanted to get away from” a tear ran down her face while she is talking so I have made a decision that we are not going to accept the offer and i promised her that we can do better and if the worse happens we can always try to get it again.

I left their house and I went straight to the devloper i tried to extend the time limit saying that I had an overseas buyer coming in 40 days and they will buy it if they could just extend the time -i was lying- they didn’t accept. Then i told them if they could waive off some of the fines i would have someone that will pay the principal amount (and the rest goes to the seller) they said even if you talked to the CEO personally the fines wouldn’t be waived off. And they bluntly said we want the unit we can sell it now again for way higher than the original amount.

So I left empty handed. Went back to the office opened the CRM and got all the leads that were generated this year for similar properties and called them to offer this one unfortunately my tries were unsuccessful.

So …

为什么值得关注

能改变理解方式，而不只是重复常识；符合当前抓取需求；它提供了新的理解或解释，而不只是表面观点

来源：reddit，领域：society，保留分：0.56