The Barack Obama Contingency

Today I walked into my office and got a Gtalk message from one of my best friends who now lives in Geneva, Switzerland as a Money Broker. The title – “Dude check this out! Right up your alley here…”

The link, a Bloomberg article titled: New York Condo Buyers Wary of McCain Get Obama-Loss Loophole

In short, the article states that a New York condo buyer has put in an offer to purchase the $4.16M condo that basically will be NULL and VOID if Barack Obama is NOT elected president.

Noted in the article:

“Call it the Obama contingency. Buyers at the building called +aRt will be released from their purchase contract “no questions asked” should the Democratic candidate lose to John McCain on Nov. 4, said Erik Ekstein, president of Ekstein Development”

“We’ve been trying to move some of our product and one of the major stumbling blocks has been political,” Ekstein said. “This being New York, people are looking forward to his taking office,” he said of Obama.

“Some would-be buyers visited the building, discussed financing, and then said they feared McCain, Ekstein said. Victory by the Republican will trigger the escape hatch for anyone who signs a sales agreement before then.”

No sales have been made yet, but I would agree with Morrison that this could ‘Only happen in NY’.

Read the rest of the article here.

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