But also, there are so many nuances to cap rate.If you are looking at office space, for instance, are in you CBD or suburbs?  

How much more will vary, and can be debated.Which means the seller, if he had a decent agent would NOT list at $200,000.If we are talking about a house that needs no repairs, and has a fair market value of $210,000, then no one would do that deal because closing costs would swallow the profit.As always on these threads, we are getting defensive reactions from people who are real estate professionals whose practice includes assigning contracts, when the criticism being offered is of the hundreds or thousands of clueless idiots messing with people's lives without being able to perform.No one, including the original poster, is criticizing the sort of thing you and Hattie are talking about.  

Do I swallow that knowing I'm getting a great sale price on it? 

That is hard for me to swallow.

If it was, I swallowed it hook, line and sinker.