“You don’t give me the price I want? You are not serious, you don’t have money”

Tuesday, August 4th, 2009

Part 3
(to read part 1, please press here, for part 2, please press here)

An upset VIP

I had concluded my investigation. I had asked the bank locally, the headquarters also, I had verified the rental prices in the market today, I spoke with plenty of people, I put others to speak too. So, when I met the owner for the last time, I had arguments. I started explaining to him that what he told me for the contract was not correct (no, I didn’t say it was a lie, I didn’t want to insult him). Also, what he told me for the possibility not to pay taxes on profit etc, in a legal way, was also not correct. I explained to him that I expected the bank to reduce the rent by 25 - 35% and I asked him either for a new price or for a guarantee that the rent will be the same in the future.
As a VIP, I guess he will have a priority number in the list of the people who hate me for being straight and honest to them.

He got very upset. He didn’t care to explain why he had told me so many “unjustified” things. For him the only important point was the money. Also, he didn’t pay attention to the fact that my offer was based on some figures and assumptions (based on his words). He was cold and clear: “Will you give me the money you wrote in the Letter of Intent?” “Yes, If you read this Letter, it says that my offer is subject to all you promised me. So give them to me and we go to the notary”. “You don’t want to give me the price I want. This means that you are not serious. You don’t have money, you just come here to lose my time. If you had money, you would have paid me what I want, but you are poor” he replied. “But the price you ask, with the guarantees you give… they have nothing to do with what we agreed, what you have told me. Under these circumstances, it is cheaper to buy in London”. He stood up and left, telling me that I made a big mistake to play with him.
(There is a Greek expression for situations like this: “Not only they owe us money, but they also came and took our cow too”).

“There is a stupid Greek crook, sent by the banks to lower the prices in the local market”
Very soon I started hearing stories about me. It seems that the upset owner, together with some more upset owners in the city (as I negotiate with many, buying just 3 properties so far) has spread around all possible stories about me. Ofcourse that I don’t have money, definitely that I am not serious. For sure that I am a bad person. Plus that I change my words every day. Not to forget that I am searching for “dead” people to steal their properties (not their blood, I guess for this Dracula has priority in accusations…). Last but not least, I was sent by “the banks” (the association? All of them? Some of them? The Greek ones only?) to lower the prices of properties in the city, so as like this the banks to renegotiate the rents. (No, so far I am not accused of digging in graveyards during the night, or stealing the teeth of old poor people etc).
So, the problem was not that he changed his words, asking money without any justification. He wanted an amount. He had learned in the past that when he wanted an amount, there was always a stupid person (yes, usually a foreigner) who was coming, asking to meet him. He was… granting him an audience and in the end he was accepting to sell to this client for a huge price. Like this, he could invest the money to all possible consumption choices… Now, it is too early for him (and many more) to sit down and discuss with a client, respecting him as equal.

Guess what? The rent was reduced…
What a coincidence… Few days after the owner told me all these, I heard that he signed a modification amendment of the renting contract. Although it was such a strong one, as he claimed, he accepted 33% deduction in the price (probably the bank told him: “Look, we are in trouble. Don’t you have a generous heart, so as to help us?” and his generosity made him accept their offer, although he didn’t have any reason to do so). Ofcourse he doesn’t mention to anyone that all that I told him proved to be correct. And that if I would have bought the property, I would end up with a yearly income 33% less than the one I had calculated. I remain guilty for refusing to be tricked.
This is why many people tell me that several owners in this city don’t want to meet me, when they hear that a Greek could be interested in their property. This is why I am advised by many local agents to declare in their market my profits and the 3 purchases, so as to prove to people I have money. Couple of them proposed to me to give an interview and state that I pay prices which respect the owners’ wishes. I guess it would be even better to declare that I am willing to make rich anyone who needs money, as I represent a welfare institution…

Why do I insist?
After all the above, you will probably think: Why the hell does he lose his time there, as people behave like this? The answers are simple:
- Because I also find some serious people with who I deal with (serious = someone who doesn’t tell me at 12 in the night that it is daytime outside).
- In some cases, more than 25 this year, we agree in the price and we move on (for me or my clients).
- In other ones, we agree that we have a difference in price and we renew our discussion for the future, like all civilized people.
- Plus, I think I am one of the very few “crazy” ones, who remained traveling across Romania, searching for good properties and sealing deals.
- Sooner or later, when someone will really want to sell, or will really want to buy, he will know with who to talk with. As already many people do so…PS. Once more I would like to point out that there are many serious people in the market. But usually I describe in this blog the stories of the “more intelligent” ones, because they are more interesting and I hope they can also provide you with some useful examples, or maybe even advices.