Escrow open? negotiations aren't finished...

Dated: March 13 2021

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When bidding for a property becomes competitive, sometimes buyers will make a dramatically higher offer, while secretly hoping to pay significantly less. There are two ways to make this happen—buyers can anticipate that the appraisal ordered by their lender will come in lower than the contract price, or they can plan to load up on the credits they request at the close of the inspection period. The point of the strategy is to get the property into contract, and then negotiate better financial terms after the competing buyers have gone away.

If I see this kind of strategy unfolding, I’ll close the option of reducing the sales price because of a low appraisal with a counter that makes the buyer responsible for making up the difference. I’ll also prepare my selling client for continued negotiations in the Request for Repair, and also keep handy the contact information of our backup buyers, so that we can negotiate from a position of strength.

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DAVID DUNLAP

As a residential real estate executive with an extensive background in corporate marketing, I am able to apply unusually strong skills in marketing communications, e-marketing, strategic planning and ....

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