Arriving at that one, mutually agreeable, price requires patience and practice. Since the buyer and the seller start out having different opinions of value, each party must try to understand the others point of view, motivation, goals and hurdles in order to arrive at a mutually acceptable price. Only by understanding each others views will the buy-sell transaction get closed.
One of the best ways to learn the other party is needs is by asking questions; then, by listening very carefully to the words, and the inflections, and the tones of voice it should be possible to tailor the necessary adjustments and compromises required. Unless both parties are reasonably satisfied with the compromises there will not be a closing and neither party will benefit. Cooperation by both parties is critical.
Posted in: Note Appraisal