In Morris County v. Weiner, 222 N.J. Super. 560, 537 A.2d 752 (App.Div.1988), certif. denied, 111 N.J. 573, 546 A.2d 501 (1988), the condemning agency wrote a letter to defendants expressing its desire to acquire the property, stating that defendants should contact plaintiff to negotiate. Defendants' counsel contacted plaintiff, rejecting plaintiff's offer, arguing that there had been a recent extension of bank mortgage financing on the subject property and a recent contract for sale which included a sales price well in excess of the amount the condemning agency was willing to offer. Plaintiff did not have its appraiser consider these additional facts but instead filed suit. The trial court dismissed plaintiff's complaint. The Appellate Division affirmed and stated: The purpose of the statute is to encourage public entities to acquire property without litigation where possible, thereby saving both the public and the condemnee the expense and delay of court action and permitting the condemnee to receive and keep the full compensation due him. Rockaway v. Donofrio, 186 N.J. Super. 344, 353-354, 452 A.2d 694 (App.Div.1982).... Upon receiving defendant's advice . . . it was incumbent upon plaintiff to ask how it was conceivable for a bank to lend $ 400,000 on the security of a property which plaintiff had appraised at only $ 255,000. Its action instituting condemnation proceedings immediately upon receipt of defendants' response was incompatible with its obligation to negotiate. Id. at 565, 537 A.2d 752.