Wednesday, June 04, 2014
By Judy Szablak
Home prices have continued to rise in Westport, and buyers have to learn today’s negotiating strategies rather than rely on what was used in the past.
One tactic that many buyers continue to rely upon is the percentage of sales price to asking price, which is used to determine a starting offer. This common misconception is simply ill-advised.
The ratios are much more helpful to sellers than they are to buyers, as it helps to put a number on possible negotiations and net after closing, depending on the sellers pricing strategy.
What appears to be a double standard truly isn’t when you look at the reasons why. The home could be grossly overpriced, and a set percentage may mean one might actually overpay.
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