Question: Listing Price and Signed Contract
Started by cleanslate
about 17 years ago
Posts: 346
Member since: Mar 2008
Discussion about
When a property goes to contract, will it also display any price changes which occured during price negotiations? For example, a property is listed at $750K and someone signed a contract for it but they have negotiated it to $700K, will that reflect on StreetEasy or will it just show as signed contract and you will not know the price decreased until it's sold?
Not on streeteasy. Once it closes, then the actual sale price gets posted.
Some brokers will change the list price after the apt. goes into contract to reflect the approximate contract price. When the numbers eventually get reported in quarterly reports, it means that the sale looks like it sold for ask, rather than x% off of the real ask. In my experience, listings that sell for dramatically less than the list price do not update this info; they would rather make sure that the sale goes through instead of advertising the large window for negotiation in case the buyer walks away. It also forces people to look for the final price in ACRIS, via StreetEAsy, etc.