If the Real World Used Textbook Buy-Back Policies

by Susanna Wolff on May 01, 2008

Buyer: I'll give you $5,000 for it.
Homeowner: Are you crazy? I just paid $100,000 for it in January. Haven't you heard of value appreciation?
Buyer: All I'm hearing is that your house is used.
Homeowner: Hardly. I spent like 2 days there in March and then 6 hours yesterday. This house is in perfect condition.
Buyer: Oh yeah, what's this note above the backdoor?
Homeowner: It says, "Low door. Mind your head."
Buyer: Low door, huh?
Homeowner: Yeah, but that's not a problem. It's just a feature of the house. It's supposed to be like that. That's just a helpful note in case people didn't notice the height of the door.
Buyer: It sullies the whole house. The whole house is crap because of that note!
Homeowner: What are you talking about? This isn't even a pretty house.
Buyer: So you admit it!
Homeowner: Yeah. It's a stupid looking house on a boring block, but people still want to buy it. Haven't you heard of supply and demand?
Buyer: Nope. And I'm not going to give you more than $5,000 for this dump. That's just policy.
Homeowner: What are you talking about? What policy?
Buyer: Just policy.
Homeowner: Well, maybe I won't sell it to you. Who knows, I might need this house in the future. It's got pretty cool...faucets. I might want to use those. Ugh, fine. Give me the stupid 5 grand.
Buyer: Great doing business with you.
Ex-Buyer: Attention, all prospective buyers! Who wants to buy this fantastic, mint-condition home for $90,000?
Ex-Homeowner: What?!
Ex-Buyer: Sucker.
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Susanna Wolff

Susanna Wolff

Columbia

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