If you get an unsolicited offer this may or may not be a golden opportunity. Careful thought and research is required in dealing with this unsolicited offer, and there are many issues you need to think through very carefully before considering it and making a decision. Let me give you some examples: For one, it may not be properly drafted. There are certain clauses required in order to ensure that the deal closes, and you should ensure that these are presented in the offer. Even if you decide to accept the offer in the price, you may want to redraft the offer so that it contains clauses to protect you. The other caution of accepting an unsolicited offer is that it may not be the highest price that the building can generate in the current market place because the seller may not be fully aware of recent apartment transactions. If you receive an unsolicited offer, call us. We’ll give you all the sales comps in your area without obligation so that you can make a better decision on whether this offer is a fair one.
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