In multifamily deals, buyers submit offers at 2.1% and 2.3% discounts before the seller even provides documents to justify the price. It's backwards from land deals, where there are no income docs at all because dirt doesn't produce income.
Your offer strategy is going to be at 2.1 and then max price before verified docs, 2.3. And maybe this is what that guy was talking about the other day, Katia, because I don't do multifamily. And I think that guy we were talking to at that office space over there, it was, that's the world he lives in. It's because it says right here that you make your offer and then they, then they give you docs to support it. Right. And so that may be the way they want to play that game. Doesn't sound like a whole lot of fun to me.
But anyway, so they want you to make an offer and then they present you all the documents to argue the price back up.
So these are, these are tactics that maybe multifamily uses. I don't know. I know in land we don't do any of that because we don't care about your income when we're dealing with dirt. Keep going down.
