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Brokers Riding Similar Listings. Any strategies as a buyer?

Started by HateMyRental
about 17 years ago
Posts: 4
Member since: Jun 2009
Discussion about
I have seen this happen twice now and as a buyer it's frustrating (although I can why the sellers like it). Here's the situation: there are two units of the same line in the same building (identical floor plans), and one is clearly better than the other. For example: 10B - renovated kitchen and bathroom, drops listing from $630K to $585K 6B - needs renovation, was listed at $599K The 10B unit is... [more]
Response by columbiacounty
about 17 years ago
Posts: 12708
Member since: Jan 2009

make an offer?

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Response by HateMyRental
about 17 years ago
Posts: 4
Member since: Jun 2009

I have an active offer in play, but the seller isn't countering below $575 and they've stated the above as their strategy.

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Response by columbiacounty
about 17 years ago
Posts: 12708
Member since: Jan 2009

well...either they're right and they'll find someone else or they're not. short of picketing the building and putting out leaflets about the situation (which i would strongly urge against) what could you possibly do?

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Response by Trompiloco
about 17 years ago
Posts: 585
Member since: Jul 2008

HateMyRental, considering that the market is far from bottoming, I would advise patience. In 3 months 10B will close and if 6B is still there you can offer them 490K. Otherwise just pity the person who overpaid for it. In a year you may be pitying both the buyers of 10B and 6B if none of them is you.

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Response by front_porch
about 17 years ago
Posts: 5325
Member since: Mar 2008

You can't buy data points, you can only buy apartments. If you have knowledge that causes you to believe 6B is "worth" less than $550K, and the sellers believe it is worth $575K.. move on. One of the themes of my book is that there is ALWAYS another apartment, and there is.

ali r.
the book: tinyurl.com/2ag28z

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Response by HateMyRental
about 17 years ago
Posts: 4
Member since: Jun 2009

Good feedback - thanks. I think patience is my best strategy for now. Doesn't lower the stress level though!

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