Originally Posted by
Unregistered
Can consider these alternatives:
1) come 7th April, no extension but pay next 5%. If they back off, collect the 5% and find new buyer
2) Consider extension but developer to pay the next 5% in installments of 2% on 7th April, 2% on 7th May, 1% on 7th June. That way, it will be a win-win situation for all. If the developer genuinely need time to find money, the 2%, 2% and 1% will ensure hat if they are unable to raise the money, the owners get to keep a bit more money. This may be more complicated but lawyers should be able to handle it.
3) Sell it to a reputable developer for the same price of $516M but offer them a discount of 5% (since 5% collected from Bravo) so no loss to all owners