CHAPTER 20 CASE STUDY: This Big Mistak : This Big Mistake Cost e Cost One Home Seller $36,000 Matthew had a desire to sell his home. A real estate agent reached out to him and conveyed that there was an interested buyer for his property. These prospective buyers had made a generous offer of $385,000 and had secured a loan. The real estate agent inquired, "Would you be willing to sell your home to them?" Initially, this proposition appeared quite appealing. It promised a swift sale, sparing Matthew from the typical hassles associated with the home-selling process. Matthew decided to accept the $385,000 offer and proceed with his plans. However, several weeks later, Matthew discovered that his neighbor had sold a similar house for $421,000. While Matthew's neighbor's house was slightly smaller, it was in comparable condition to Matthew's. It became evident that his neighbor's home had not been in better shape. This turn of events left Matthew puzzled. Why had he sold his house for $36,000 less than his neighbor? Why had he diligently paid down his mortgage and maintained his property meticulously, only to sell it below its actual value? The root cause of this discrepancy was Matthew's lack of knowledge about his home's true value. Regrettably, he had not consulted any experts or sought a second opinion from another real estate agent to determine the accurate value of his property.
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