Sandi Bowman
July 1, 2007, 09:38 PM
Hi, Ankesh,
Most people in this situation have a lop-sided view of things. They see only the potential gain, and not the potential loss, in waiting.
The correct way to make the decision is to analyze, with the best data available, what made the sudden increased offer happen? In the real estate example, is there a new shopping mall or city center planned right next door to your property? If there is, study the feasibility and the sources of info that lead to their decision, then make yours based on the expansion/value probability. If, however, it's an oil well....well...hold on tight. :D
If, however, it's someone who wants to just buy up certain property to hold on to it (some folks do that if it's in the way of potential growth. They'll buy huge city blocks of property, often paying more than current value just to make sure there are no hold-outs), grab the deal and be grateful.
Good luck in your decision-making.
Sandi Bowman
Most people in this situation have a lop-sided view of things. They see only the potential gain, and not the potential loss, in waiting.
The correct way to make the decision is to analyze, with the best data available, what made the sudden increased offer happen? In the real estate example, is there a new shopping mall or city center planned right next door to your property? If there is, study the feasibility and the sources of info that lead to their decision, then make yours based on the expansion/value probability. If, however, it's an oil well....well...hold on tight. :D
If, however, it's someone who wants to just buy up certain property to hold on to it (some folks do that if it's in the way of potential growth. They'll buy huge city blocks of property, often paying more than current value just to make sure there are no hold-outs), grab the deal and be grateful.
Good luck in your decision-making.
Sandi Bowman
