It is very rare that a two-letter word like "OR" is so powerful. On a recent trip to Miami, driving down the street, I came across sign after sign reading, "FOR SALE OR LEASE" As a broker, who represents clients closely, and often times gets to know them well or even become friends, I couldn't help but to feel so sorry for the owners. You see, that this little, seemingly unimportant word, "OR", represents a very very bad situation. These owners/sellers are in such a bad place financially that they would walk away from that piece of property anyway possible. The "O" in the word "OR" is like a little life saver, the last gasp of a drowning property owner. I know what you are saying, "these people over-extended themselves and they deserve it", and in many cases you are probably correct. However, in business I never deal from a position of weakness. But, once that "FOR SALE OR LEASE" sign goes up, you have already lost all negotiations. You had better hope to get out of there with your head still attached. Good Luck!
Brett,
I disagree. It is subjective, this is the connotation that we are adding, but it does not mean that it is there in reality.
I now a guy here who has that sign on his multiple properties, but I dealt 2 times with him, and the market between these two times has changed, but he eeps his price, and what is interesint - he leases his properties and then either leaves them on the market, or, usually, takes them off.
So, even with this sign he maintains a strong position.
Brett,
Troubled and depressing as it is to us, at least the owners are honorably trying to keep the payments up until they can sell. We find what we're looking for. I'd show that house first!
Bill
Brett,
For Sale or Lease does not allow any negotiation room for the sellers. The power is on the buyers' side.
I've seen the other side and that is a seller who is inclined to lease and wait for the market to recover (whenever that is). For that seller (my former client), he was not desparate and it would have taken a storng offer to forgo the lease route.
We handle both sales and rentals, and we often have properties "for sale or for lease". Those Owners are the lucky ones who can afford to keep their property if it leases. It means they are NOT being foreclosed on. The ones in bad shape can't get enough from a lease to hang on.
20,333
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