Recently submitted, what I felt to be realistic, and offer of $1.8mm on a 1st TD with a balance of $6mm secured by a 40k sf office bldg in Scottsdale, AZ.
Banker was aghast at my offer and told me to get out.
After that I asked him his view of rent/vacancy/expenses/ti/lc/etc and he agreed with every one…run the calcs and bam, $1.8mm…
He apologized for yelling obscenities, but still couldnt’ get the board to entertain my all cash, 5 day close offer.
Told him I’d see him in a few months when no one else would buy it either…and so it goes…
