Preview

67 Fishpond Lane Buyers 6

Good Essays
Open Document
Open Document
828 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
67 Fishpond Lane Buyers 6
Debby Correia
June 11, 2015

67 Fishpond Lane | Buyers: Negotiation Strategy On behalf of myself and my housemate, I am preparing for my upcoming meeting with the homeowners of 67 Fishpond Lane. I will be primarily focused on the Principled Negotiation Strategy (PN). My belief is that the four crucial points of this strategy - People, Interests, Opinions and Criteria will help the negotiations stay on course and ultimately benefit both parties and assist my housemate, myself and the sellers to reach an agreeable price.

The PN negotiation strategy will allow me to focus on the issue at hand, which for my housemate and me is securing the property at 67 Fishpond Lane. The underlying interest is that we are very eager to have this property. It is in the location we want, expect it to be in the price range/ballpark we are able and willing to pay, and has an aviary for the hyacinth macaw we are contracted to buy.

My housemate and I are really interested in staying in the Cambridge area where the house is located. We fell in love with Boston and want to stay here. We have to move out of the condo we currently share and rent. The owners will be back in June. We have decided to look for our own home and use the rent money towards a mortgage. We are currently approved for a mortgage of $340k provided we can place a 20% down-payment, which brings us to a maximum price of $425k.We are willing to pay a premium for this house, but cannot exceed the maximum purchase price of $425k.

The location of the house is ideal. It is close to the city and it is amazingly already equipped with an aviary for the macaw we will soon have. It is large enough for both of us. We each can have our own office and there is room for guests, another housemate, or potentially a guest apartment. The house does not require many renovations and will save us roughly $4k - $5k in the renovations we expect to have to make for the macaw. The special environment needed for the bird is already fully

You May Also Find These Documents Helpful

  • Powerful Essays

    Cruickshank, Garth& Romano

    • 1551 Words
    • 7 Pages

    Richard Romano, one of Cruickshank, Garth& Romano’s principals, is doing business with Watson& Musico Developments, the major developers and property owners in NCR. Initially, this ideal business will bring not only very attractive benefit to the company but also a good chance to build good relationship with Watson& Musico Developments which is company’s new desired target. However, John Mortimer, the controller of Watson& Musio, needs high estimated value to refinance company’s property and he is not satisfied with Richard’s preliminary evaluation of 30.5 million. Meanwhile, he requests Richard to raise the value to 35 million by ignoring the side agreements and using full face rental rates. Now, Richard meditates on whether he should submit to John’s will by raising the value to $35 million.…

    • 1551 Words
    • 7 Pages
    Powerful Essays
  • Powerful Essays

    Ethical Case

    • 1468 Words
    • 6 Pages

    Cruickshank, Garth & Romano (CGR) is a new real estate appraisal and consulting firm formed by Chris Cruickshank, Wayne Garth, and Richard Romano. The firm provides not only residential, industrial and commercial evaluations, but also consulting services and feasibility analyses in the National Capital Region (NCR). Richard and his two partners have worked for one of the four major NCR firms and are well known in the local real estate community. And recently, Richard has just completed a preliminary evaluation of a property for Watson & Musico, which is one of NCR’s major developers and property owners. However, John Mortimer from Watson & Musico is unsatisfied with the Richard’s evaluation price, he asks Richard to raise the value, otherwise they have no business. This situation is difficult for Richard, because he wants to satisfy John’s needs, but at the same time, he can’t ignore the ethical issue to do that.…

    • 1468 Words
    • 6 Pages
    Powerful Essays
  • Satisfactory Essays

    GDP11 Unit10 Rep046 13 S

    • 303 Words
    • 2 Pages

    Buying a home is a process that many of us will go through in our lifetime. If we are like many other prospective buyers, we will experience this major decision three or four times in our working years. A home is often the largest purchase we will make, and it therefore deserves our careful attention.…

    • 303 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    Revere Street Case Study

    • 1710 Words
    • 7 Pages

    Edward Alexander a Harvard graduate is looking to invest in a small income producing apartment building in the Back Bay-Beacon Hill area of Boston, Mass. He currently has $80,000 dollars saved up to purchase this property. He began his search for the perfect property checking current listings and prices using, www.bankrate.com and www.realestate.boston.com. Due to many of his friends living in the area he gained access to eNeighborhoods a program that allowed him to enter addresses and it would show the previous 25 properties sold. Most properties observed sold for $700,000 and higher and required an initial equity investment of $150,000. Since he only has $80,000 in equity he plans to take out a mortgage to cover this cost. He found that the listings he came across were rundown and in bad condition. Such as one property on Myrtle St. This property showed a 20% return on cash investment, but did not account for repairs, vacancies, or management expenses. With these included the cash return would be only 3%. The values of many buildings on Beacon Hill had doubled or tripled in the past ten years due to a large amount of wealthy professionals anxious to own real estate. Alexander therefore believed that an apartment building in the Beacon Hill area would be a safe investment due to little chance of depreciation for functional or economic causes.…

    • 1710 Words
    • 7 Pages
    Good Essays
  • Good Essays

    Besides the strategies chosen, there are several kinds of negotiations. Multi-attribute Negotiation presupposes the discussion of many issues included in the contract at the same time (Li, Giampapa, and Sycara, (2005). Bilateral negotiations oversee the two-sided…

    • 1163 Words
    • 5 Pages
    Good Essays
  • Satisfactory Essays

    Frankie Ferrara

    • 581 Words
    • 3 Pages

    Mary put her house on the market for $215k and the first offer she received is 2 weeks later at $170k. Mary’s BATNA is this negotiation is to keep the house waiting for another buyer to make an offer or to try to find a lessee to rent the house. Mary’s reservation price depends on several factors including:…

    • 581 Words
    • 3 Pages
    Satisfactory Essays
  • Good Essays

    Case Study

    • 951 Words
    • 4 Pages

    According to Lewicki the co author of Negotiation, “the tendency for negotiators to see the world as more competitive and distributive than it is, and to underuse integrative, creating-value processes, suggests that many negotiations yield suboptimal outcomes.” (Lewicki, 16) Additionally, negotiation techniques are extremely important to any contractor because it contributes dramatically to the creation of better margins on profit, prevention of wasted marketing efforts, and a better closing ratio between client and a business known as Creative Patio Awnings and Design that was established in 2001 in Sacramento, California. Creative Patio Awnings and Design (CPAD) was instituted by the founders’ dream to provide landscaping designs to homeowners that can be unique, affordable, precise and that can comply with local state and local building codes.…

    • 951 Words
    • 4 Pages
    Good Essays
  • Satisfactory Essays

    Email Covlet For WebLink

    • 476 Words
    • 2 Pages

    Attached please find your role play materials for our email negotiation exercise that is due on Monday 1/12/15 by 5pm. You have been assigned the role of a (General Manager for Re-New, Inc. OR an attorney for Re-New Life , Inc.) Also included is a listing of partner assignments, as well as a copy of the Web Link settlement form. In addition to this material, you will want to visit the course Blackboard so you can download a copy of the Partner Reaction Form.…

    • 476 Words
    • 2 Pages
    Satisfactory Essays
  • Satisfactory Essays

    During the negotiation, I do not think any of us really controlled the situation from the beginning. Nevertheless, not wanting the negotiation to stay focused on the price, I kept making new propositions. I believe it worked well to show my will to find a solution that would work for both of us.…

    • 700 Words
    • 3 Pages
    Satisfactory Essays
  • Satisfactory Essays

    Red Paper Clip

    • 772 Words
    • 4 Pages

    To encourage you to think about the many everyday opportunities you have to persuade and negotiate with others, and to improve these skills, you are being asked to go out and negotiate a series of five or more trades over the course of two weeks starting with a paperclip and ending with something substantially more valuable. On November 1st you will be asked to submit an analysis of the project accompanied by this negotiation log, which is a record of your five transactions.…

    • 772 Words
    • 4 Pages
    Satisfactory Essays
  • Satisfactory Essays

    Honestly, I do not see any possible concessions in this negotiation. The two parties has a radical conflict of interests: the buyer wants to make houses convert into commercial use while the seller is unwilling to make this change and want to maintain its residential property. It is not reconcilable.…

    • 374 Words
    • 2 Pages
    Satisfactory Essays
  • Powerful Essays

    Myti-Pet Case Report

    • 1404 Words
    • 6 Pages

    1. How did you plan for the negotiation? Explain how you decided on a strategy?…

    • 1404 Words
    • 6 Pages
    Powerful Essays
  • Better Essays

    c) I think that in this situation, Bob White and Rod Andrew could not have taken a course of mutual gains bargaining. The most important factor to generate alternative solutions is to shift from positional bargaining to integrative negotiation, where both parties understand each other’s priorities and they agree on a common definition of the problem (Lewicki, Saunders and Barry, 2011). In this situation both parties have extremely hard positions and it looks like no one is willing to make any concessions. When Rod Andrew tried to come…

    • 1016 Words
    • 5 Pages
    Better Essays
  • Good Essays

    Negotiation Analysis

    • 756 Words
    • 4 Pages

    Q.3. How can Value be created in this negotiation, and who is likely to get it? What obstacles might prevent agreement, and how can they be overcome?…

    • 756 Words
    • 4 Pages
    Good Essays
  • Satisfactory Essays

    The negotiators have to build a trip wire which is a better outcome than BATNA and bottom line. The trip wire will help the negotiators not making regretful agreement.…

    • 409 Words
    • 2 Pages
    Satisfactory Essays