Pigs Get Fat, Hogs Get Slaughtered!

Sharing this -- I guess there really is a difference between a pig and a hog. Good lesson to learn, whether you're a first time seller or a veteran of real estate transactions.

Indianapolis homes for sale

Jamie Willis: Not your mother's real estate agent.

Original content by Cal Yoder RM423455

Pigs Get Fat, Hogs Get Slaughter

This idiom, as defined by usingenglish.com, is used to express being satisfied with enough, in contrast to be greedy and having it become your undoing. This is a lesson which many sellers and buyers of real estate in Lancaster, PA have had to learn.

I have looked back over two deals which have gone south because the seller was a hog (metaphorically, not actually). I represented the buyer in both situations.

In the first deal, I had been working with my buyers for a period of time and this home was everything they wanted. Our offer was accepted and the inspection contingency fulfilled. We were waiting to move forward when the appraisal was completed. One problem, the property appraised $15,000 lower than our offer. It was a split-level and finding comparables was quite difficult. The seller was not willing to budge. We were under contract at $335,000 and he would take no less than $325,000. My buyers said, “No, thank-you!” I checked to see what this home sold for and noticed it closed at $315,000. This seller learned a $5000 lesson at a minimum.

The second deal was under contract for $232,500. The inspections noted some concerns regarding the age of the heating system and some work that needed to be completed. In trying to negotiate a suitable arrangement, my buyer basically stated, “I will be satisfied if I can get $5000 towards repairs.” Again the seller was unwilling to budge. This home later sold for $214,000, a $13,000 decision.

If you are a seller of real estate, it is important that a good, strong offer in your hand is often one you need to negotiate to keep together. Do not learn the lesson, “Pigs get fat, hogs get slaughtered!

 

 

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Cal Yoder

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Lancaster, PA 17601

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Comments (2)

Cal Yoder
Keller Williams Elite - Lititz, PA
Homes For Sale in Lancaster PA - 717.413.0744

Thanks for the reblog Jamie. Have a great weekend.

Cal

Mar 31, 2012 02:04 AM
Dave Halpern
Keller Williams Realty Louisville East (502) 664-7827 - Louisville, KY
Louisville Short Sale Expert

Time and circumstances will change minds, especially after another mortgage payment is due.

Mar 31, 2012 05:49 AM