Seller Misconceptions “Sunk Cost”:  a retrospective (past) cost that has already been incurred and cannot be recovered. —Wikipedia What Sellers paid for their home ” and how much they subsequently put into it (for improvements, updates, etc.)  ” are important psychologically.* And, depending on how much the would-be Seller currently owes on their home, the sum of their cost + improvements...Read More

Dueling Comp’s (and Spreadsheets) Real estate negotiation can involve lots of back-and-forth and numerous fine points, but in my experience, it’s usually not productive to get into a detailed discussion of/argument over the Comp’s, also known as “Comparable Sold Properties.” Put it it this way:  I’ve yet to have the other side say, mid-negotiation, “you...Read More

The REAL Purpose of Appraisals What is the purpose of an appraisal, in the context of a residential real estate sale? To make sure that, if the Buyer defaults on their loan and the lender ultimately forecloses, the value of the collateral is sufficient to make the lender whole. Or, in plain English:  if the...Read More