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Pricing You Home
to Sell
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When it comes time to sell your home,
settling on your list price is one of the most important decisions you
will make. All sellers want to command the highest price possible, while
all buyers, of course, want to buy a house for the lowest amount they
can. Finding the price in between that is just right for your home,
its assets, and its area, is a process that involves many factors.
The first factor in pricing your home is, naturally enough, your home
itself. The desirability of the property will be the deciding factor
in what price to set. It's an excellent idea to get a home inspector
on the premises to check out all aspects of the house, including the
roof, electrical systems, and plumbing. Get a clean bill of health for
your house if possible, and seriously consider making any needed repairs.
Buyers today want model-home houses. In fact, many buyers will not move
in to a property if there is even a small amount of work that needs
to be done. In a seller's market, you may be able to get away with selling
a house that needs small improvements, but it will lower your list price.
Call in local agents to help estimate the true market value of your
home. It's best to get more than one opinion on this matter. Talk to
appraisers and agents who work in your area and are familiar with the
neighborhood, as they will be able to factor in the prices of surrounding
properties, as well as the desirability of the area. However, don't
spend money on getting a formal market appraisal. Local real estate
agents will have a better idea of the area and be able to price your
house according to current market trends. Don't be afraid to point out
certain features or traits of your home that may justify pricing it
slightly higher. For example, if you have a bay window, or a carpeted
basement that provides more potential living space, you have a slight
edge over similar houses, and those factors should be taken into account.
A good realtor will be able to take all of these factors into account
when setting your list price.
Once you have settled on a fair price for your property, it's time to
set your actual price tag. It's expected that most sellers will initially
price their home at about 15 percent above its actual market value.
The selling process will involve bargaining, and depending on the condition
of the home, any possible repairs, and the amount of potential buyers,
the amount it sells for will more than likely be less than the price
for which you have it listed. So aim a little high and be prepared to
receive various offers on your home based off your initial price. If
you've done your appraising and calculated correctly, when the final
paperwork is signed you should be receiving an amount very close to
your home's actual worth.
About The Author:
Peter Dobler is a veteran in the IT business. His passion for experimenting
with new internet marketing strategies leads him to explore new niche
markets.
Read more about his experience with real estate; visit
http://real-estate.online-business-idea.com
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