January 16, 2008
Monday: a bank called me offering their property in Bulacan area. (Adjacent to our lot.) He said this property which he presented to me 2 years ago costing 1.2M went down already. the offer: 900K, 10% DP, 18+K a month for 5 years. My previous offer for this property: 500K. Well, you'll never know, they might give in.
The bank said this offer is only good until January 15, 2008. I said I’ll call them when I’m ready.Wednesday: my sister informed me that there’s a buyer interested in the property. My mind juggled at the idea.
Thursday: I forgot about the whole thing!
Friday: I got the buyers contact number and made a deal. Offered the property for 3M but they insisted 2M. I asked do they have available cash now. They said they have 1M. I required 50% DP, and to my amazement they agreed! Friday night, to see if they’re serious buyers, I asked for earnest money while I prepare for the CTS, and they gave 20K,
Saturday: We met, they gave the 1M DP. 50% balance payable on last week of February. I drafted the CTS which we both signed. The buyer is balikbayan, married to a foreigner.
Sunday: We ate out,
Monday: morning I called the bank, but the officer is not yet in. I had to ask for his cell number just to make sure he reports to the office. When I talked to him, I asked if I am to buy the property, is the 900k still negotiable? He said no, that is the last price he can give me, but then I asked what if I pay in cash? Then he said “Let’s talk when I get to the office at 11 am.”
With the money in my bag, I asked my mom (a very good negotiator) to come with me. We went to the bank at 11 am. The Manager is there, together with the President/CEO. We shook hands, and sat down at the conference room. Discussed a little, then I asked the 1 million peso question, “What is your final offer?” they showed me the flyer for the last November auction, the property I was about to buy was listed there, but no taker. PRICE: P857K and they said that is their last offer.
My mind was working again, (with the cold cash in my hand, I have the upper hand.
)So I said, if the property was auctioned and there’s no taker, it means we can make an offer lower than the bid price. The officers looked at each other, probably caught off guard. Then they said, yeah but probably very little would be discounted only.
Their last offer: P850K. I said let’s discount the 3% commission of the auction managers, since the property was offered in the auction. Again, the President smiled and said that’s about 24.5K, they said ok. Then my mom suddenly insisted on closing it to P800K saying the money we are about to give is hard earned money. Well, we still haggled for another hour, and then the President said, “Let’s prepare the Deed of Sale.” The deal is closed at P800K! That same day, I got the Title.
Tuesday: I went to the buyer, let her sign the Deed of Sale because the next morning she’s about to leave the country again. She’ll have the balance wired to her son.
Unbelievable story huh? I thought so too, but I so I looooooooovvveee the feeling, and it is true,
No comments:
Post a Comment