Why would someone list their home so low?

posted 3 years ago in Home
Post # 2
Member
42538 posts
Honey Beekeeper
  • Wedding: November 1999

orchidaloha:  That home won’t be your comparable until after it sells, then the selling price is the comparable.

My bet is that they are luring people in with the low price and want a bidding war.

Post # 3
Hostess
9919 posts
Buzzing Beekeeper
  • Wedding: May 2014

orchidaloha:  they want a bidding war – it’s a sleazy, but very common, practice.  By pricing it really low, they get lots of interest and people find out there are multiple bids and pay more than they should.

Post # 5
Member
1436 posts
Bumble bee
  • Wedding: September 2010

Yep, bidding wars are a lousy practice. I was an office manager at a real estate firm for many years. It sucks when agents use thse tactics.

Post # 6
Member
11 posts
Newbee
  • Wedding: March 2014

orchidaloha:  I agree, they might be doing this just to create interest and a bidding war. Or maybe they’re just really really modivated sellers, and want it to sell quickly, and not draw out the whole process so they can move on.

Post # 7
Member
356 posts
Helper bee

 

orchidaloha:  Is it possible that there is something wrong with it that most people dont see? Is there a foundation issue, water issues, etc? I ran into the same thing when I was buying, thinking “wow this house looks great online, but why is it so cheap?!” after walking in and seeing foundation cracks, and flooded basements… I then understood.

Post # 8
Member
957 posts
Busy bee

Yeah I agree, maybe there is something wrong with the house. Maybe it was not well maintained. Maybe there are heavy smokers who live there, with a lot of pets, who never clean up after themselves. Maybe the foundation has issues.

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