Thursday, February 12, 2009

Calm Seas Don't Create Good Sailors

I read a quote recently which essentially said that "calm seas don't create good sailors." As we plow through the turbulent waters of today's economic times and market conditions it gives those of us in business the opportunity to hone our skills and to be creative in serving our clients and customers thus advancing our respective businesses.
Today while drafting up an agreement of purchase and sale, I had the opportunity to exercise my creativity to the agreement in principle of both the buyer and seller. My client is the buyer whom had purchased a lot on which to someday build a home. As many do, they somewhat lost their enthusiasm to build and in the meantime saw a new home they took a liking to. The solution which has yet to be finalized, was to have the home's builder/seller, take the buyer's lot in on trade plus cash to complete the purchase of the home. This sounds simple and in principle is but executing the transaction in an orderly fashion takes a bit of fitnesse. Obviously the seller doesn't want to be committed to owning a lot if the buyer reneges on the house purchase and vice-versa but that is easily handled and both parties protected if the right steps are taken.
I suspect as the year progresses we will see more real estate transactions of this type take place. Many potential buyers may be looking to make a purchase and either can't or won't until their current property is sold or somehow othrwise disposed of. By getting a little creative, it can be a win win for both a buyer and seller and thus faciltates a transfer(s) of ownership that may have otherwise not happened. It may not exactly constitute smooth sailing but the waters can indeed be calmed by plotting and taking the right course.


goooooood girl said...

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Millionaire Maker said...

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I suggest to write more and more on such topics.
Many of the people write their blogs but a few people can write impressive blogand Mr. Collingwood had done it again.

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Rick relocated to Collingwood from Toronto in 1985 through a transfer with Goodyear Canada. In 1987 Rick was recruited by a major client of Goodyear’s, managing their Canadian business based in Barrie before moving to Chicago in 1992 as Vice President of Sales & Marketing. Upon returning to Canada in 1996, Rick ran an industrial products manufacturing company in Stratford, Ontario. In 1998 Rick returned to Collingwood with his two children. Rick is a licensed real estate Broker with Royal LePAGE Locations North in Collingwood and holds his MVA designation (Market Value Appraiser-Residential). He is an active volunteer in the community serving several years on the Board of Directors with the Collingwood Chamber of Commerce as Treasurer, 6 years on the Board of Directors for the Southern Georgian Bay Association of REALTORS® of which he is the Past President (2008) and currently serves on a committee with the Ontario Real Estate Association. Rick is a diverse executive manager with extensive experience in strategic planning, manufacturing, finance, human resources and quality assurance management.