November real estate advice - List Price vs. Offer Price

The List price would refer to the price the owner has agreed to put his property on the market for. The offer price on the other hand, would be the price that a purchaser is willing to spend on that particular property.

Even though the Vendor may list his/her property at current market value, they are still open to receive and consider offers that may come in that is not full price. Therefore, if you are looking to purchase a property, I often advise that you look at properties that are a bit higher in price, say about $50,000 higher as these same owners may be open to accept offers.

Do not let the price of a property scare you away from investigating the details or the motives behind the property. Ask your realtor the right questions and see what results you get.

Contributed by Vernica Delancy

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