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Seller’s Market...But Are Sellers Able To Maintain The Upper Hand?
Seller’s Market...But Are Sellers Able To Maintain The Upper Hand?
 
Let’s face it.  In most price categories in Winnetka, Glencoe, Wilmette and Kenilworth, it seems to be a seller’s market.  What that means is that for well priced listings, the market times are very short and sellers have some power on pricing and other terms in the sale of their properties.
Frequently, we are seeing multiple offers for desirable properties.

 
This has been further compounded by the extremely small inventories of home for sale.  
 
However, there is an interesting phenomena that is taking place all too often.
 
In their eagerness to purchase the home, many buyers are stepping up quickly and either paying a premium price or agreeing to terms that they might not prefer (i.e. a much later closing date).
 
Often these buyers, either on their own accord or with the encouragement of their agent, are doing this with the idea that they can get out of the contract at any time until the contingencies have been met.  
 
Whether due to buyer’s remorse or just viewing the transaction through a longer window, some of these buyers are backing out of ... more

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