The First Real Estate Transaction

In Genesis 23, Sarah has died at the age of 127, and it’s up to Abraham to find her a burial place. God has promised Abraham this land for here to eternity, but even so, Abraham begins a drawn out negotiation over property that will serve as a grave for his wife and eventually himself.

Abraham asks the Hittites to intervene with Ephron over a site at the end of his field, the cave of the Machpelah, suggesting he will pay the full price. The people knew of Abraham’s special connection to God, his princely status, and they didn’t want him to pay. But in a raised voice so everyone could hear, Abraham insisted to Ephron that he would pay the real price for the field. Ephron said the land was worth 400 shekels of silver, but that Abraham should just take it without paying. Abraham’s answered with action: he weighed the silver, 400 shekels worth, officially securing the land and the cave as a burial place for his family. 
 
The commercial lessons:
1. The transaction was witnessed by the Hittites, lest either side go back on their word. 
2. Though Ephron offered it as a gift, Abraham insisted on purchasing it.
3. Abraham did not dispute the price, even though God had promised him the land in Hebron. He still agreed to pay the full weight of silver.

Translation to 2009:
1. Witness your transactions.
2. Don’t be consumed with getting “a deal.” There’s no shame in paying a fair price for quality goods. Both buyer and seller need to know the deal was fair.
3. Be humble: don’t flaunt your wealth. Even Abraham who had a direct line to God recognized he shouldn’t take advantage of his “political position.” How unlike the behavior we see out of Washington: a Treasury Secretary who doesn’t pay taxes, an almost HHS Secretary and “performance czar” who forgot to pay theirs, and lest we forget at least two congressional committee chairmen exploiting their public positions for personal gain [how apt: in both cases the exploitation revolves around real estate transactions.] Remember, Abraham was a prince but he didn’t act like one.

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