By Fidelio Orosco
When talking about the real estate market, one of the most common terms that we often hear from people is listed price. There are a lot of people who are using this term, but most of them don't actually know the real meaning of listed price. Not knowing what the listed price is, is also a common reason why there are transactions having problems. In order to help you avoid such problems, this article will be showing you the things that you need to know about listed price, and the reasons why it is very important when it comes to real estate transactions.
Listed price is actually not more than an invitation for someone to make an offer. For example, if you are going to place your real estate property listed for sale, you are simply inviting people to make offers. The price listed could be higher or lower than what you want to receive in exchange for your property. It doesn't even have to be near the price that you are looking for. The most common mistake of many people is that they think a listed price is the amount that they will receive in exchange for the property. The truth is that it is only there in order for you and the buyer to get started with the transaction.
Even if the price that you listed was $300,000, and the buyer placed an offer of $350,000, you can still reject the offer, for as long as you think that you are not satisfied with the terms. The offer of the buyer can be anywhere near the listed price, but it also doesn't have to be a price near the amount that you have listed for your property. There are buyers who are not checking the property, because the found out that the actual price is more than what they are looking for, but you still need to check it out and negotiate with the seller.
Keep in mind that you, as a seller or a buyer, should never look at the price listed. You'll never know the terms that the seller would want, and you'll also never know what the offers of the buyer would be. So make sure that even if the offer is lower than what you have listed, you will still listen to the terms of the buyer. In some cases, the price that will be given in exchange for the property won't matter for as long as the offer is very advantageous for the seller. Real estate transactions are very open, and you can always close the deal even if you don't have enough money to cover the listed price.
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