Liquidating Real Estate Assets Quickly: What Affects the Probability of a Quick Sale?
30 Pages Posted: 30 May 2010
Date Written: May 25, 2010
This study empirically examines what factors increase the probability of a quick sale, an event where a property sells quicker than what is considered a normal marketing duration. This investigation is the first to explore the determinants of the probability of a quick sale utilizing a Probit methodology. Findings of the study suggest that overpricing, increased housing inventory, and increased listings by the listing broker decrease the probability of a quick sale. Dual agency, rising interest rates, and vacant properties increase the probability of a quick sale.
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