1860 Lake Shore Road, Greensboro, VT
Sometimes buyers look and look and look for a property in a market that offers limited supply – like Caspian Lake in Greensboro, VT. It is a summer vacation oasis and home to some celebrated dignitaries – including high-ranking government officials, billionaires, and captains of industry. Property on this lake is seldom available for sale and most sales are done from family to family without ever being put on the market.
My client, the Osterhout family, was looking for a new place on the lake. They had a deep understanding of the real estate market as they previously owned on the lake. Through our discussions, we created a shortlist of properties they would be interested in purchasing. Some of which were not offered for sale.
Because of my contact with many owners on the lake, I was able to establish a line of communication with the owner(s) of those properties not being marketed that were on the Osterhout’s list. There are many strategies to getting an unwilling party to the negotiating table. Ultimately negotiating comes down to asking questions of the parties that they might not even have asked themselves to find motivating factors. The end result was I was able to help my client identify an off-market property, get an unwilling owner to negotiate and ultimately, help my client close on a property at a price 34.8% below the assessed value. All in a supply-constrained market.