The Bullard Houses

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“The Bullard Houses” is a case in which Downtown, a corporation formed by James Bullard’s descendants, is seeking for a buyer for the site that has been saved by Downtown from destruction. The reason behind this potential deal is because Downtown is in a great cash shortage. There are two parties current interested in this site, including Absentia, the client I as a senior partner in Jones & Jones represent for. The resulting negotiation between the representative of Downtown and me covers a couple of issues, such as primarily the price of the Bullard Houses and the use of it, etc.

Yan Ma, the representative of Downtown, started off by raising Downtown’s concerns about the future use of the Bullard Houses. Instead of mentioning about their current financial situation, Yan repeatedly questioned me about the purpose for which Absentia was going to acquire the site. From my prospective, I didn’t have the authority to reveal to anyone the real purpose, which is to building a high-rise hotel in the garden area. Hence, I made much effort in an attempt to get around this question. Nevertheless, she mentioned that the only way she could continue this negotiation was to know the intended use of the site because her clients bought the property in the hope that their ancestors’ heritage can be protected from being destroyed. With no rout of retreat, I chose to reveal that Milton Hotel Group wishes to build a hotel but to keep the exterior appearance as it was at the moment. Yan surprisingly seemed not opposed with Milton’s projection. Frankly speaking, I did not quite understand why she agreed to move on to the next issue after hearing a high-rise hotel will be built and the interior of the Bullard House will be redesigned as the lobby of the hotel. With this big issue being solved, we soon reached a final deal of a total price of $18.5 million in which $13 million would be paid up front and the remaining $5.5 million would be paid by installment within one and a half...
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