jeff kushner
Well-Known Member
So guys, as many know I am selling my home...well actually it's under contract but that isn't the point.
I was a chief estimator for many years for large buildings in the DC area. I began seeing "Request for BAFO" in the early 90's in large construction projects. This is where you bid say, the HVAC for 10mil and after everyone has submitted a bid and you find out that you were low....the Contractor THEN requests that all the trades resubmit a New/Lower number in a BAFO. Pure money grubbing....all of it.
How many buyers here were forced to submit a BAFO AFTER they had submitted an offer in good faith for the home that you live in?
If you bought in the past several years there's a very good chance as Real estate agents now push that bush-league crap.
Can you tell I'm not a fan?
Last night my Agent calls to discuss several offers...then she says I could request BAFO's from all of them by 5PM today....I almost reacted by saying GFY....but I caught myself and said that no, we won't be doing that.
To require BAFO's from the offerors would have been contrary to everything I have felt about BAFO's and more importantly, the people who demand them for 30 yrs.
I selected my buyer and countered with scope items & I got them all from my buyer, not more money, didn't need it......BUT no inspections, no addendums, time of the essence, 25K earnest money & close by 7-11. To walk away will cost them 25K so I think we're solid.
F BAFO's and the horse they rode in on!
OK, Rant over
(many bafos' were horribly injured in the making of this rant)
LOL
I was a chief estimator for many years for large buildings in the DC area. I began seeing "Request for BAFO" in the early 90's in large construction projects. This is where you bid say, the HVAC for 10mil and after everyone has submitted a bid and you find out that you were low....the Contractor THEN requests that all the trades resubmit a New/Lower number in a BAFO. Pure money grubbing....all of it.
How many buyers here were forced to submit a BAFO AFTER they had submitted an offer in good faith for the home that you live in?
If you bought in the past several years there's a very good chance as Real estate agents now push that bush-league crap.
Can you tell I'm not a fan?
Last night my Agent calls to discuss several offers...then she says I could request BAFO's from all of them by 5PM today....I almost reacted by saying GFY....but I caught myself and said that no, we won't be doing that.
To require BAFO's from the offerors would have been contrary to everything I have felt about BAFO's and more importantly, the people who demand them for 30 yrs.
I selected my buyer and countered with scope items & I got them all from my buyer, not more money, didn't need it......BUT no inspections, no addendums, time of the essence, 25K earnest money & close by 7-11. To walk away will cost them 25K so I think we're solid.
F BAFO's and the horse they rode in on!
OK, Rant over
(many bafos' were horribly injured in the making of this rant)
LOL
