Home buyer offers $700,000 over listed price in Vancouver

BC Real Estate Association says it could have been due to a marketing strategy

8e6f6df049f19c9021c567111e2e

Vancouver are nothing new, but having a buyer offer $700,000 more than the asking price?

The house we're talking about is the Mackenzie Heights area on a lot with a panoramic view of Vancouver's skyline, including the mountains and sea. But is that enough to make you want to pay more than the $3 million list price? Cameron Muir with the BC Real Estate Association says yes -- if you've got the cash.

"You can create a lot of interest or buzz around wealthy potential buyers, then you certainly see home prices or even the land value in this case, bid-up substantially," he explains.

He notes this doesn't happen often and adds it could have been part of a marketing strategy.

"Listing the home at a lower price in order to generate multiple offers to create a climate of a bidding war in the effort of securing a higher price in the end," says Muir.

The home and lot listed for just under $3 million had many offers, the highest being over $3.6 million.

Comments:
No comments

Post Your Comment:

* indicates required fields.
Your Name: *
Please note, your email will not be shown publicly
Your Email (will not be published): *
Comment: *
Please type the text as it appears above:
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.