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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Think4Yourself who wrote (57601)7/12/2006 6:40:54 PM
From: mishedloRead Replies (1) of 306849
 
Here is an interesting reply from a subcontractor posting to my blog:

The big ramp-up comes because the developer figures that the contractor will settle for pennies on the dollar to come out with something when so much is on the line. With such a large debt to pay the sub will be broken quickly so must negotiate, whereas with smaller amounts the sub will survive and persist in their claim. It is construction made with an enforced discount. I'm in construction and have had the negotiation session at the end of the project where the devoper says that they'll pay 75% now or wait 5 years for your money claim through the court system. For Lennar it achieves more potentially valuable inventory with lower cost on units. It's a last ditch effort due to the burning of subs though.
Neal | 07.12.06 - 6:03 pm | #
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