03-19-2012 01:45 PM
Property listed for $20g, I offer $25, bank counters at $31. I'm working with listing agent who says my offer was highest he saw, and doesnt understand the banks counter. I offered to go $26, which is really my max. Any insight?
03-27-2012 12:04 PM
Yep...It was a phantom offer to generate some buyer interest. Let's not forget, sellers may use many methods to get a property sold for above market. It all about money. You could also call it bait and switch. Generate a bidding war and get 30k or better for the property. It is entirely possible.
04-05-2012 05:09 AM
I know an agent in Palm Springs CA that frequently lists properties at about 20 % of market value (80 % BELOW average) and gets so many offers in the first two - three days that it makes her head spin. And usually the property sells close to true value. I'm sure this method only works well in certain high demand areas though.
05-21-2012 11:04 PM - last edited on 05-22-2012 01:00 PM by SheilaM
Yes I completely agree with you..It is a bit risky action...Its not always that it will provoide you benefit..