When you are getting ready to list your home, either with an agent or by yourself, it is important to follow a certain protocol in order to achieve the most desirous and beneficial results. If you follow these simple steps you will find that your experience selling your home will be much more pleasant and should help you to sell your home quicker.
Do Not Overprice Your Home
You obviously have a lot invested into your home and you want to get the most money out of it as you possibly can. But overpricing your home will have the exact opposite effect. When you over price your home you exclude entire categories of buyers who may have been serious about purchasing your home. A property price that is inflated can intimidate potential buyers and lead them to look elsewhere. In addition, when buyers see a high price on your property they will be expecting a lot in return and will be disappointed when your home does not deliver to their expectations. Houses that are overpriced tend to stay on the market for a longer time and eventually sell for a lower price regardless. To save yourself a lot of time and aggravation price your home accordingly.
Refinancing Appraisals Are Not The Same As Resale Appraisals
When you are looking to refinance your home lenders will often give you an inflated property value to encourage you to re-finance with their institution. But a re-finance appraisal is not the same as a fair market appraisal of what the real estate market can handle. The best way to determine what your home is worth on the real estate market is to have an agent do an analysis of comparable properties in your area using recent market information and sales as a guide.
Sean Rasmussen
Property Options Australia
Property Options Blog © 2006 – 2008
Tags: property options blog, property price, property value, sellers. property, selling, selling your home
{ 2 comments… read them below or add one }
Hi Sean,
These are great tips. I would’ve thought you should inflate the price slightly so you have some room to negotiate. So, really, you just ask what is a fair and reasonable price and hold out until you get it.
I thought you might have a price you hope you get at the high end and one you’re willing to accept at the reasonable end.
When you see properties that are way overpriced your initial reaction is, what are these people on? My next thought is How much do they really want to take? Which more than likely should have been closer to the proper asking price.