Glossary

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Bargain Sale
A bargain sale refers to any property on the market for a price lower than market value. Some sellers will place their sale price lower to get a sale done quickly. Also, they may want to get multiple offers on the property to try to get the price up. Buyers should thoroughly inspect any property on the market for less than market value. Quite often, the property owners know of issues with the property, so they priced the house knowing they cannot get full market value due to the problem or problems. That is not a true bargain sale. Here is an example of a true bargain sale: If a home assesses at $200,000 and the property owner lists it for $180,000, that is a bargain sale due to the listed price being 10 percent below market value.