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Property fire sale

Posted: Mon, 31 Aug 2020 9:23 am
by abbby
How do you define a fire sale? When owner is selling it lower than what he bought?

Re: Property fire sale

Posted: Mon, 31 Aug 2020 10:18 am
by TropicalExpat
abbby wrote:
Mon, 31 Aug 2020 9:23 am
How do you define a fire sale? When owner is selling it lower than what he bought?
Not just lower price, but really heavily discounted. And usually used in the context of trying to shift the stock aggressively.

Re: Property fire sale

Posted: Mon, 31 Aug 2020 10:54 am
by abbby
Ok got it, so generally much more discount and also much lower than past transacted price.

Re: Property fire sale

Posted: Mon, 31 Aug 2020 2:25 pm
by PNGMK
Below last transacted price for the condo complex on at least more than 1 transaction. For example where I live the last transaction was Feb at ~1040 psf, prior to that the last transaction in 2018 was ~900 psf. If I saw a price LESS than 900 psf I would say that's getting into sale territory but fire sale would be closer to 600 psf.