We began negotiation Monday April 6 with the seller of the property close to
UNAM that we want to purchase for the FTTMX. The original asking price was
43M pesos. At today’s exchange rate, it is $2.82M USD. Two weeks before we
began our negotiation, they raise the price to 50M pesos ($3.28M). When four
brothers sat down with one of the owners, a lawyer, initially he asked for
50M but dropped to 45M pesos ($2.96M) and want 50% down payment and 50% at
closing. He also said that there is another prospective buyer.
The assessed fair market value is 36.85M pesos ($2.42M). There is a 50% tax
if the selling price is above or below 10% of the assessed value. This means
that we could pay between 33.17M pesos ($2.18M) and 40.54M pesos ($2.66M).
In our mind, we want to pay him the fair market value but offered him 33.17M
pesos ($2.18M) for negotiation purposes. He rejected but did not throw the
brothers out of his office. He is open for us to discuss and come back in 48
hours with a better offer. We went back on Wednesday with a second offer at
35M pesos ($2.30). He also rejected that. However, he told us that he would
like us to have the property but the price is still 45M pesos ($2.96M). We
will go back to him again next Monday. This Lord’s Day evening, we will have
a Skype call with the coworkers in the area to pray and consider what we
should do.
On another note, the saints are preaching to him. He is quite open but have
not prayed yet.
Please pray His move in Mexico for His Body.
The coworkers laboring in the Mexico City Metro area.
