Does it Matter What the Seller Paid for the Home?

Posted by Liliana Sorescu on Monday, June 17th, 2013 at 3:26pm.

No, it doesn't matter what the seller paid for the home. But it seems that some inquiring minds do want to know.
 
A new trend in real estate has buyers going on line to research and learn what the seller paid for the home they want to own. And that's fine if they just want to satisfy their curiosity.
 
Unfortunately, some are basing their offering price on that information. And when it appears that the seller might be making a profit, they're offering far too low - and losing out to other buyers. 
 
When the real estate bubble popped, those who lost their equity and were forced to short sell learned quickly that what they had paid had no bearing at all on the price a buyer was willing to pay. Now that prices are rising and sellers do have equity, it is still irrelevant.
 
What does matter is the home's value in today's market.
 
That's why I'm always willing to prepare a market analysis to assist my buyers and sellers in determining the proper selling price.
 
So if you're looking for a home in Greater Vancouver area, get in touch. I'll be happy to show you how we determine fair market value – and to help you find the home of your dreams.
 

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