OFFERS YOU CAN’T REFUSE
By Robin Shapiro
“The Godfather” movie reminds me of homeowners who turn down “offers they can’t refuse.” They list their house at an unrealistically high price because they “need” the money. The house is worth “more” merely because it’s theirs.
Unfortunately for these sellers, most buyers are educated. Buyers understand that they may have to pay top dollar (in spite of high mortgage rates) due to low inventory levels – BUT the vast majority of buyers will NOT pay above appraised value. The sellers who delude themselves into crazy high listing prices and then turn down top dollar offers may have to wait a long time to sell their property – maybe years unless they accept reality, if the current top dollar offer hasn’t vanished while they have procrastinated.
On the other hand, once in a blue moon, we hear about a crazy high price which was paid by a desperate buyer – a price which was significantly above the comps. They buyer could have been ignorant and/or very wealthy. The seller was lucky – it was as if he won the lotto. People who really want to sell should heed Don Corleone’s advice and not wait until they win the lotto. Call me. Love, Robin
