My day thus far
Wow. I missed most of the work week last week due to the crappy flu. Today is my first full day back at the office. I've had better. I have a client that is the real estate equivilent of the guy in the restraunt who likes to order off the menu. Real Estate Investment is regulated every bit as tightly as stock trading. Honesty is the best policy and dishonesty can land you in hot water up to and including government sanctions and jail. So things have to happen in a certain order. And you document the hell out of your transactions. This client sent me a disclosure last week that the units we have in escrow (he is the Seller) are actually smaller than we advertised and contracted for. We don't personally measure space because we are not licensed contractors or engineers. The space differential is approximately 9-10% per unit. Oh. Shit. So I get a call today from one of the buying entities agents that they are going in to sign closing papers today. Oh. SHIT! So I scurried the disclosures over to the broker who was now unavailable (this was after I told her on the phone about the discrepency). I told her voicemail that we were not going to let the units close unless the buyers signed acknowledgement of the size discrepency. Then I got a similar document over to my broker. Then I got the same document over to the escrow officer. Then the buyers broker leaves me a voicemail asking for a 9% discount in the purchase price. No. During this time I was also on the phone with the now-defunct buyer of a large project that is begging for more time to perform. No. Next I called the Seller of the large project to relay the message from the Buyer and he agreed that the answer was no. We're taking a week to negotiate with the backup offeror to see if we can get something together in short order, but during that time the primary offeror is out of contract. Next it was back to the square-footage tango and I spoke with the escrow officer. Then I called the buyer agent on that deal and explained the concept of 'Load Factor' to her in order for her to explain it to her buyers. It was like explaining quantum mechanics to a wood shop major. Also during this time I got the honor of donating $85 to Costco's pharmacy for these stupid 1000mg antibiotics they have me on since apparently my strain of flu requires enough antibiotics to kill every single mutuation of dysentry in Western Africa. Its now 2:00 and my day is only getting more busy from here.