Wednesday, January 30, 2013

5 Basics on Pricing Your Home to Sell

Pricing your home to sell is the most important—and one of the hardest—steps you'll encounter in the selling process. To get you started, here are five basics to help you determine the best listing price for your home right from the start.
  1. Know your high- and low-end goals. Be sure to build in some cushion for negotiating, but remember to be realistic. Nothing holds up a home sale more than an inflated price.

  2. Factor in all the costs to selling your home. This includes agent fees, listing fees, loan payoffs and repair expenses.

  3. Get a home pricing report, which will show recent and pending sale prices of other homes in your area. Use your pricing guide to further understand home values in your area.

  4. Hire a professional appraisal. An accurate appraisal is key to pricing your home properly. 30% of deals are lost due to the home selling price being more than what the bank is willing to loan based on the appraisal.

  5. If your house has undesirable characteristics that cannot be changed—say, the size of the yard or its location on a busy street—you will have to deduct 5-10% from the value it might have if those characteristics were favorable. Do additional research to see how much you must deduct to compel a buyer to overlook those drawbacks.
Download our pricing guide for more tips on how to make sure you price your home right from the start.

Have questions about how to price your pad? Ask us in the comments or on Facebook!

8 comments:

Jacksonville Marina said...

Having financial capacity to invest in real estate isn’t always enough. There are many essential things to consider. I believe you’ve tackled almost everything an investor should know and consider before getting into real estate investing.

James Smith said...

The decision of selling house is a big matter for everyone.So I agree with your article that some research with the selling houses fact in the neighborhood should be taken into concern.Selling house with some furnitures is also a major thing that happens in few cases.But this should always be done if appreciable amount can be gained.

buy my house said...

Selling a house is major decision and getting the house marketable and the correct evaluation is very important. The points sited here are really helpful. Great post!!

Dominick Hoffler said...

Great points! Very good article, really informative. Thanks.

-DonAnthonyRealty.com

sophialevis said...

I cant believe the amount of wonderful info you have on your blog. I have learned a lot from it. Will be coming back soon.Thanks for share...Surveyors in Birmingham, AL

Jonas Smith said...

Sounds great. Can you share more cases here? Do you know more on such themes?
RES

Rickman said...

I am preparing to sell a house, and have got tons of great pointers from this blog! I am considering listing it on this website. Thanks!

Houses For Sale in Murray KY | Murray KY Real Estate

Steven Smith said...

Nice post,I agree with you but one more thing which effect on the value of your home is remodeling.Home remodeling increases the value of your home.Thanks for sharing.

Remodeling Birmingham