Are there stories of people who had their SBA loans rejected, and then used that as a basis to dramatically lower the price and with purely seller financing? What is generally the best way of doing this?
I'm working on a deal which I know has red flags. I am 100% sure the bank will call these things out and reject the loan. But, I want to use the rejection as leverage to offer a price which is 40-50% below ask. I am basically looking only to acquire the contracts they have with their customers.
Is this unethical, stupid, or a waste of time? Or is it a commonly used practice by buyers?
SBA loan rejected
by a searcher from University of South Carolina - Darla Moore School of Business
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