This topic contains 7 replies, has 5 voices, and was last updated by Jimmy-T Jimmy-T 3 months, 2 weeks ago.

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  • #11996

    Please give some advice re purchase offer by developer.

    There is a developer contacting unit owners re selling the whole block for redevelopment. How should this work?

  • #30691
    Jimmy-T
    Jimmy-T
    Keymaster

     

    Then go here where readers ask and answer questions (and tell their “horror” stories).
  • #30822

    Does anyone have a template for an MOU for a collective SP sale? Would be greatly appreciated, as cannot locate online. Thanks in advance.

  • #30827
    Jimmy-T
    Jimmy-T
    Keymaster

    It would help (us and you) greatly if you refrained from using acronyms and initials. What do you mean by MOU? I’m taking a guess, but then that would be taking a guess.

  • #30828
    Avatar
    Flame Tree
    Flatchatter

    A memorandum of understanding (MOU) is a nonbinding agreement between two or more parties outlining the terms and details of an understanding, including each parties’ requirements and responsibilities. An MOU is often the first stage in the formation of a formal contract.

     

    Read more: Memorandum of Understanding (MOU) https://www.investopedia.com/terms/m/mou.asp#ixzz5YOblxn9Y 
    Follow us: Investopedia on Facebook

  • #30831
    Jimmy-T
    Jimmy-T
    Keymaster

    I know what a Memorandum of Understanding is – pretty much what it says on the tin. I just don’t think it’s helpful – especially when there are people new to strata reading these posts for assistance – to slip into any kind of jargon, acronyms or initials. MOU also means Microsoft Office User, for instance.

  • #30858
    Avatar
    Bn
    Flatchatter

    Forgetting the MOU discussion. If it wasn’t obvious to the reader from the context – they can google. 

    My view is that you need an legal advisor for the transaction, this is normal practice in most commercial matters – this is not to say you want them to directly represent you nor negotiate but can provide assistance on such matters. 

    You are going to need legal support at some point anyway. 

  • #30859
    Jimmy-T
    Jimmy-T
    Keymaster

    @bn said:
    Forgetting the MOU discussion. If it wasn’t obvious to the reader from the context – they can google. 

    Yeah, because it’s easier to get every other reader to Google something than it is for the original poster to just spell things out once.

    Jargon and acronyms are how people use language to create cosy groups of “experts”, making themselves feel superior, to the exclusion of the unenlightened.  Just read or listen to lawyers, doctors and financiers – they might as well be talking Klingon once they get going.

    Here at Flat Chat we want everyone to understand everything as immediately as possible. It’s what journalists have done for hundreds of years.

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