Knowing how the sale/lease history of a property can make a big difference.
By looking up the LoopNet property record, you can now see up to 10 years of listing history millions of properties. The sale/lease history on a LoopNet property record gives you a much better picture by detailing:
- All the other sale and lease listings at the property.
- When the property was listed for sale, if there was a price reduction, when it went off the market, and if/when the property sold.
- When the property was listed for lease, if there was a rent reduction, when the listing went off market.
Here’s an example LoopNet property record–before you look at it, imagine the difference in just knowing the current asking price vs the history of prices the property was marketed at.
As you can see, the current asking price is $575,000 but owner tried to market the property at prices from $475,000 – $1,485,982.
This isn’t the full picture but it sure gives you some clues to rethink your position as a buyer.