Jon's home is located in a flood zone. His list price takes this into consideration, and he's also provided a CLUE report for buyers specifying that the flood risk is low. However, he's still having a hard time selling. One option Jon could take is to ______. Unset starred question Drastically drop the asking price Offer to cover the buyer's flood insurance costs for one year Plan staying put Wait until the market changes

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26-05-2022
Business

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Jon's home is located in a flood zone. His list price takes this into consideration, and he's also provided a CLUE report for buyers specifying that the flood risk is low. However, he's still having a hard time selling. One option Jon could take is to ______. Unset starred question Drastically drop the asking price Offer to cover the buyer's flood insurance costs for one year Plan staying put Wait until the market changes

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dubeyshailja64 dubeyshailja64 · Answer 1 · 2022-05-30T14:01:14+02:00

As per the case, John could take to drop the plan of selling and try to wait for the market changes. Thus, the correct answer is D.

What is flood zone?

Flood zone are the areas that are considered as more prone to flood. These areas are highlighted on the map about the dangers of floods occurring. John's home is located in a flood zone so it will be difficult for him to sell.

Selling at a low price will cause loss to him, offering insurance for the flood to buyers will also hamper him with the financial burden of the flood. If he drops the plan for some time, might be possible he get a good amount due to weather changes and market changes.

Therefore, option D waiting for market changes is the correct answer.

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