Sometimes a “meeting of the minds” just doesn’t happen.
My friend Richard was kind enough to make this available for a re-blog.
A successful negotiation between buyer and seller that results in an accepted Purchase and Sale agreement is often described as a meeting of the minds.
It’s the point at which adversarial interests mutually acknowledge that the terms and conditions of the sale are agreeable to both parties.
But it doesn’t always happen. Many times, negotiations can go on for days without a successful resolution. Although the seller wants to sell, and the buyer wants to buy, the chasm that divides them is just too wide to cross.
And after each party has made their”highest, best, and final offer” without an acceptance, the chance for a meeting of the minds is gone..
In those cases, it’s best to respect the needs and desires of each participant, and move on to the next potential deal.
And start the process anew.
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