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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Determinable note payoff amount. Posted by Ward-CA- on August 25, 2003 at 9:58 PM In Reply to: Re: Be a soft hearted schmoozer. posted by kennyboy on August 25, 2003 at 2:54 PM : Ward: : How do you handle the face amount of the straight note you talk about below? Is it a fixed price you estimate before the deal? Is it flexible based upon the actual selling price which may be less than the amount you estimated? How do notes handle this? Is the note enforceable without a fixed amount? =-=-=-=-=-=-=-=-=-=-=-=-=-=-=-- Ken Yes, I work from a fixed price contract that’s determined when signing up the deal. If the sellers are concerned with the vagaries of the actual sales price and are willing to adjust what they have coming at the close of the resale, both up or down, then I’d agree to that. But very few sellers want to take the downside risk. So they agree to abide by our best current estimate of the resale price. Our notes have a fixed amount. Yes, a note is enforceable without a fixed amount, if you adopt some formula to calculate what the payoff should be at a determinable point in the future. Hope this helps. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : Ward: : : How do you handle the face amount of the straight note you talk about below? Is it a fixed price you estimate before the deal? Is it flexible based upon the actual selling price which may be less than the amount you estimated? How do notes handle this? Is the note enforceable without a fixed amount? : =-=-=-=-=-=-=-=-=-=-=-=-=-=-=-- : : Ken : Yes, I work from a fixed price contract that’s determined when signing up the deal. : If the sellers are concerned with the vagaries of the actual sales price and are willing to adjust what they have coming at the close of the resale, both up or down, then I’d agree to that. But very few sellers want to take the downside risk. So they agree to abide by our best current estimate of the resale price. : Our notes have a fixed amount. : Yes, a note is enforceable without a fixed amount, if you adopt some formula to calculate what the payoff should be at a determinable point in the future. : Hope this helps. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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