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M-SO Message Board » Please help... » Archive through June 6, 2006 » Archive through January 29, 2006 » Asking price for real estate « Previous Next »

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delin wareham
Citizen
Username: Dwareham

Post Number: 35
Registered: 3-2004
Posted on Saturday, January 28, 2006 - 12:02 pm:   Edit Post Delete Post Print Post    Move Post (Moderator/Admin Only)
What's the current thinking on how to price your house?

Should the asking price be at or less than market value (to stimulate a bidding war)?

And what happens if we price it less than our desired selling price and we don't get a bidding war? Do we have to accept a bid that is at the asking price but below our desired price?

House is in Millburn and should sell quickly given recent sales on our block.
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Innisowen
Citizen
Username: Innisowen

Post Number: 1416
Registered: 3-2004
Posted on Saturday, January 28, 2006 - 12:45 pm:   Edit Post Delete Post Print Post    Move Post (Moderator/Admin Only)
You don't have to accept any price from a buyer until you have signed a contract on that price. Just make sure you have your real estate attorney construct a contract that gives you some escape clauses.

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