I located a property that had a listing price of $5,000.
This was an incorrect price. It should have been $5,000,000. Can I insist that I be sold this property at the orginal asking price.
Well, this was clearly an error and one that presumably the listing agent has corrected. Not likely that the seller is going to sign a deal for $5K when the listing price for the property is actually $5mil.
Even it the place is sold "as is", the seller has a legal obligation of disclosure for known problems you inquire about. Ask!!
And more importantly, lower your bid a ton. I mean about twice what you believe repairs will be. The seller will start singing like a bird if he wants the sell and wants to dispute why he should lower the asking price. Be sure to state you are lowering your bid for specific reasons. The seller can then tell you why this is too low, clam up and back out, or start talking about needed repairs he/she knows of or thinks he/she knows of.
Well, this was clearly an error and one that presumably the listing agent has corrected. Not likely that the seller is going to sign a deal for $5K when the listing price for the property is actually $5mil.
Nancy
Nancy,
Is there a law on the books that states, even though
is was a mistake, that they must sell at the listing price?
Kat
Thanks for your reply.[ Edited by Deetaylor on Date 04/30/2005 ]
Even it the place is sold "as is", the seller has a legal obligation of disclosure for known problems you inquire about. Ask!!
And more importantly, lower your bid a ton. I mean about twice what you believe repairs will be. The seller will start singing like a bird if he wants the sell and wants to dispute why he should lower the asking price. Be sure to state you are lowering your bid for specific reasons. The seller can then tell you why this is too low, clam up and back out, or start talking about needed repairs he/she knows of or thinks he/she knows of.