My parents were diligent at teaching me this lesson…and I often had to learn it the hard way. I used to believe every advertisement and every “deal” that came my way. Although I was a slow learner…I did learn!
My friend Jerry (a realtor) recently told me that he was bombarded by people who saw an ad for a house that was on short sale. The $270,000 home was listed at $17,000 and everyone wanted to buy it.
But, they missed the fine print that explained this was an auction and $17,000 was the starting bid…not the price.
The house later sold for full market value.
If someone was willing to sell a $270,000 home for $17,000…why do you think they would be advertising to you? Don’t you think they could easily find a buyer willing to pocket the quarter million and cope with the hassle to re-list and sell the house?
When someone approaches you with a deal that is too good to be true…what will you do? Will you assume that the universe is conspiring to give you something for nothing…or will you save your time and energy and avoid the rabbit trail?
Thanks for listening.