Universal Guide to Negotiation by John Gittus

Author:John Gittus
Language: eng
Format: epub
Publisher: Austin Macauley Publishers
Published: 2022-07-28T00:00:00+00:00

Way back before banking underwent such drastic changes, we were selling an apartment in Hendon and buying an apartment in Barnet. Our purchaser was up to all sorts of tricks and causing mayhem, so much so that the funds never arrived in time to release them to the lady from whom we were buying our property. She was not a well person and had arrived at her new abode sat in a removal van full of furniture only to be denied access. Meantime our buyer was trying to argue the contents of the apartment were hers because we had been using them within the property to sub-let to tenants. She claimed she had bought the property as a letting business and, as such, the contents were hers. This despite us having completed all the usual forms detailing what was staying and what was going as part of the contract!

It seemed the position was insoluble so I relied on two negotiating tactics. Firstly, I told her she had by her actions given us the right to withdraw from the sale, and that since we were having second thoughts about selling that would be our intention if funds were not immediately released. Whilst we waited for her response, we had to find the equivalent of around one hundred and twenty thousand pounds to release funds to the poor lady stuck in the furniture van.

On phoning the bank I was horrified to learn my bank manager was on holiday. I explained that I really needed the funding that very day! Much to my relief they asked me to go into any branch local to my position to identify myself. Meantime an emergency committee was convened and the funds were promised at my disposal by mid-day the next following day! It all ran as smooth as clockwork and the old lady moved in that following afternoon. And we resolved our problems with our own purchaser as anticipated.

Banking isn’t quite like that today, but this example will show you the massive advantage of building up a good reputation and rapport with your bankers over the years.

State your case logically and eloquently and anything can be achieved, or at least that used to be the case!

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