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Earlier this year I made a bid for a 3 bedroom Sutton Place apartment. A week and a half of back and forth found us 25K apart. I held my ground and the next day there was a new buyer and I was gone. No ask to beat the new bid just...bye bye. Now that the sale shows up on Acris for exactly my bid.
WTF?
coop? and your comp was an all cash buyer, or had some other perceived greater liklihood of board approval--or you were a shill for a first right of refusal situation
falcogold1, you're too good for that apartment anyway.
alan....too true, too true.
Broker thinks it went against an all cash offer.
finally, we have unlocked the value of an all cash offer.
Another possibility is that it was a one-sided deal.
Buy sprint and double up your dp. Heck just get rid of mortgage. After 120% returns, ya may never buy re.
Truth be told. I bid on a 'short sale' unit 2.5 yrs ago. Disgusted with the whole process with BofA, underwater seller and borkers inclusive of short sale ''experts'. I almost got them to bite on a $1.8mm bid with 50% cash. Lost it for $50k., which I am sure BofA lent them. So BofA took a 10% down 'buyer' over w67. Fast forward, I'm up $800k on my sprint in 4 months....
Bubble gods take and giveth. You are gonna score big falco.
which one?
is falco a broker? now he changed identity to be a buyer???
caonima, why do you always post right after Brooks2, but never actually address Brooks2?
You can't be serious.
HB, why would I change handles? Please explain possible motives?
FG, you and broker are speculating that you went up against an all-cash offer -- but if you can see the transaction in ACRIS, can't you see if there's a mortgage or not?
On a co-op a UCC-1 should have been filed -- I guess that a buyer could cause a UCC-1 to be filed and then subsequently NOT take a loan, but it seems unlikely.
Certainly if a buyer were all-cash from the beginning, you would see only the transaction RETT/RPTT.
ali r.
DG Neary Realty
Good point, FP.
See http://streeteasy.com/nyc/talk/discussion/30379-better-deals-for-all-cash-buyers (I lost a bid to a cash bidder who was 8% below me last summer)
>Good point, FP.
Agree however not foolproof. My purchase was "all cash" but elected to get a small mortgage during the process. It didnt affect timing of closing so it was a non issue yet if my purchase were the one of this discussion, you'd see a UCC1 and think it wasn't all cash.