Posted by David Butler on May 04, 2008 at 14:42:25:
In Reply to: Fade Quote posted by Nick on May 01, 2008 at 07:00:43:
Adding to Mike's detailed discussion (we refer to that as "cowboying" a quote); in our bids, particularly in bulk acquisition scenarios, the term "Fade Quote", or more accurately "Fade The Quote" is used to describe our downward modification of original quote given, where our own BPO's come in under the seller's base valuation of assets underlying the pool(s) submitted. Subsequently we lower our bid to account for the higher risk factor, and lower valuation of assets. Hope that helps, and...
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David P. Butler
www.hotspurinvestmentgroup.com