4 ms·
what I don't get is why is there such a big rush? It seems like most of the risk stems from "hey we have to sell this NOW". Why is the sale forced without any
by hamandcheese 2y ago
what I don't get is why is there such a big rush? It seems like most of the risk stems from "hey we have to sell this NOW".
Why is the sale forced without any time to perform due diligence?
- bruce511 2y agoThis is the end of a very long drawn-out process. It's being driven by the lender, not the owner. Most bad debts don't end up here. The bank doesn't want to own the building, they want to be bankers not landlords. So this may "end in a flurry" (the bit you see) but it often takes many months to get here. This is the worst outcome for the lender and the owner. Neither party wants to get here. But if the owner is unwilling to cooperate then this is where it ends up.