I've noticed that houses frequently end up selling for more than their listed price. Why is this?

Asked by Cecilia Le, Boston, MA Thu Oct 30, 2008

Is it common for buyers to offer more than the asking price? Thanks.

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7
Scott Godzyk, Agent, Manchester, NH
Thu Oct 30, 2008
In some cases buyer are askinmg for their closing costs to be paid and it is added to the price. In some other cases the bank is offering the property at rock bottiom and creating a bidding war which gets the prices up. hope this helps.
Web Reference:  http://www.ScottSellsNH.com
2 votes
Noah Seidenb…, Agent, Evanston, IL
Tue Dec 16, 2008
Cecilia,
Sometimes an agent or seller will underprice a home to get it sold quickly. When this happens, there could be a situation where multiple buyers are interested in getting the home. They then compete in a "bidding war." It's possible that one will offer more than the listing price in order to get the home, especially if it was underpriced to begin with.
1 vote
Thomas Cinco…, , Boston, MA
Tue Dec 16, 2008
Hi Cecilia,

In today's market here in Boston Proper, if I were to represent you as a Buyer I would not let you buy a place above asking. The Back Bay is seeing 5%-10% discounts off list prices. It is in our best interest here at CondoDomain to get you the best price regardless of the sale. We represent buyers only, and cut you a commission check at closing.

You should check our website or contact me directly.

Thanks,
Thomas

Happy Holidays!

http://boston.condodomain.com/meetus/Details.aspx?AgentID=2586
Web Reference:  http://www.CondoDomain.com
0 votes
Monroe Heyman, , Jamaica Plain, MA
Fri Oct 31, 2008
Hi Cecila,
Even thought it is a Buyer's market, if the property is in a good location, in good condition and priced right, there are still instances where the property goes above the asking price. That is why I always recommend people use a Buyer's Broker someone who could help you negociate an offer.
Good luck in your search.
Monroe
0 votes
Randall Sand…, Agent, Charleston, SC
Thu Oct 30, 2008
Hi Cecilia Le - Many times this will happen when the seller pays some of the buyers closing costs and they roll that into the price of the home. This is all dependent on the house being able to appraise for the proper amount. Hope this helps. Thanks, Randall
Web Reference:  http://www.randallsandin.com
0 votes
Zelda Kohn, Agent, Pleasanton, CA
Thu Oct 30, 2008
Cecilia,
it is not unusual for this to happen when the seller is motivated enough to allow very aggressive pricing that invites a lot of buyers and competing offers. When you know market well enough or work with a realtor who does you will recognize such opportunities and be able to buy a property at a really great price even if it is above asking!
Web Reference:  http://www.boc-re.com
0 votes
Michael, Home Buyer, Springfield, VA
Thu Oct 30, 2008
yes, quite frequently and especially if the asking or listing price is much below than the true market value of the property.....you need to do some research and compare this particular house with other recently sold houses in the area or neighborhood.

Khanh P.
0 votes
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