that's true, but people use the internet to search dealer cost, however incomplete and inaccurate, and proceed to make asses of themselves trying to buy cars. In addition to the cost of a lot purchased for relatively little years ago, add all the carrying costs, the opportunity cost of not investing elsewhere, the property taxes, the vacations perhaps not taken, the indulgences of the moment not enjoyed, the changed plans that take away the dream of building at the beach, and you end up with far more than that number staring back at you on public records. The number is as irrelevant as the offer you may make for the lot purchased for higher than current market value. Will you adjust your offer higher to help mitigate the loss of someone who overpaid? Why would you then use a low cost basis to try to rationalize a lowball?
I like to be armed with as many facts as possible when negotiating a deal. Knowing the owners original basis in a piece of property is simply another fact I like to have in my folder when going to the negotiating table. For instance, it can tell you a little about the potential tax gain or loss the owner will take on the sale. Every tidbit of info can help me formulate an offer for a car, house, lot, business, or any other asset that is subject to negotiation.
I'm not the kind of person that pays sticker for a car or asking price for a piece of real estate unless the facts point in that direction. I get the best deal possible. But, there are plenty of folks out there that do pay sticker without doing the research necessary to know they are paying more than they need to.
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