I almost had a buyer bite the dust last week.... she fell prey to over-focusing on what the seller had paid for the home, instead of celebrating that she had beat out all the other offers on a cute, already-fixed up home. Yes, the seller had bought lower at auction, poured in a lot of sweat equity, and made this home absolutely turnkey.
So here's the reality, straight from Economics 1A:
You either do the work yourself and pay less, or have someone else do the work and pay more. It's that simple.
Your choice.
Whatever you chose, don't get caught up fixating on what the seller originally paid. Other than a reference point, what does it really matter to you? You'll probably never really know the seller's full circumstances. On the surface, it could look like they are making scads of money. Maybe they bought it 20 years ago and this is their only source of retirement. Maybe every cent of their profit will help support an ailing family member. Maybe they donate thousands to charities. It's really not the buyer's business. What is important is that you like the house, and the current price works for you.
Just remember, there may be a day down the road when you are selling this same home and making a tidy profit.
© 2009 Barb Fischer San Diego Ignore what The Seller Paid
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