House vs Car: Resale price

Repost from the original

Did you know that the re-sale value of a car goes down by 15% by the time you take your first ride home? I thought property is forever, but recently I have discovered that apartment prices are different when the seller is a builder vs. seller being an owner. The difference in price could be 10-15% on per square feet basis.

Furthermore, anybody who has sold/bought a second-hand car would agree that optional features like alloy wheel, music system with woofer, Stanley seat covers get a fraction of the value when we sell. In a house second car park, vitrified tiles, modular kitchen, bathroom fittings are given away for free with the property. WHY?

George Akerlof in his paper “Market for Lemons” contributed it to price asymmetry. Unlike the builder, the owner does not have all the documentation & permits in proper order. Most owners list their property just to understand what it is worth and do not have any serious intention/pressing need to make the transaction. This makes the resale property transaction messy, long drawn and prone to last minute surprises. As a result nobody buys the houses unless they are priced cheaper than prevailing market price.

We at Khatoni.in are there to bridge this gap. We help buyers offload all their headaches of document verification to us. We even guarantee the quality, meticulousness and completeness of our property document verification with doorstep pickup and drop. This allows you to pick your chosen home at the cheapest possible price.

This post is in continuation of my previous post on the same topic

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