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Buyer Success Story: Less

Charles Cherney

Passionate about teaching after graduating from Harvard, I ultimately found myself drawn into the world of real estate in Cambridge and Somerville...

Passionate about teaching after graduating from Harvard, I ultimately found myself drawn into the world of real estate in Cambridge and Somerville...

Oct 12 2 minutes read

Buyers Jay and Amy have been referred to me by an agent in California.

They are first-time buyers. And also expecting their first child. Baby due in November.

In the tail end of the spring market, they make a strong offer on a compelling property in Harvard Square and lose out to another bidder. Sigh.

A few weeks later, a new listing in Cambridge gets their attention. They go to the first open house and like it.

We visit the home together for a second showing. Thereafter, I complete a valuation analysis.

"So, Charles, what do you think we ought to bid?" asks Jay.

"The valuation analysis suggests the list price is on the mark," I say.

"I am thinking of offering $75,000 over asking," Jay says.

"Less," I say.

"Okay, how about 25,000 over asking?" asks Jay.

"Less," I say.

Ultimately, Jay and Amy bid just under the list price and after a little negotiation, their offer is accepted.

"Sometimes," I say, "less is enough."

"Home sweet home!" says Amy.












 

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