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ASKING PRICE – PART 1

As a general rule, buyers usually don’t pay full asking price. I try to price my listings a bit above the “clearing” price to allow some bargaining room. It’s called CAPITALISM – There is no shortcut to it. Even if a property is listed “right on the screws,” it would be unusual for it to sell exactly at the listing price, although it can happen. This is somewhat dependent on the condition/location of the property. A salesman friend of mine often talks about his best “professional, educated” client who knew the market and had difficulty accepting a cheap offering. The client requested that the price be triple checked because he thought it was too cheap. Yet, the client couldn’t just “take” the offer at the price. He tried to get it cheaper. While he was fooling around with it, the item sold to somebody else!

Buyers often make offers much lower than the listing price. This is capitalism and part of the bargaining process. It’s my responsibility to present these offers (all offers must be presented).

Cash buyers are always valuable. They don’t need the property to “comp out” in order to qualify for a mortgage – they don’t need one!  Houses without electricity, heat and/or hot water are generally not mortgageable. Empty lots are generally not mortgageable. I have cash buyers now. Call me. Love, Robin.

 By Robin Shapiro

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