Want to sell Don’t do this!
February 8, 2010
Those wishing to sell their home may not have any idea at all what they should do to get started let alone know how much they should ask for their home. Most homeowners know the amount they paid, know if improvements have been paid, and they will also know about their own neighborhood, however, it can be very hard to put a price tag on your home especially if you have lived there for years and there is sentimental value in the home for you.
Selling your home is not selling items at a garage sale or swap meet. You can place a high price tag on your home, with the understanding that homebuyers will offer you less and you can then haggle. You may even believe it you place a high price tag on your home, someone will come along, fall in love, pay that price, and then you have all kinds of extra money. If you put a high price tag on your home, you may be shutting out home buyers that would be ready to purchase your home in a minute if you only had the price down a couple of thousand dollars.
Remember one thing when you get ready to sell your home. Your ideas of what the home is worth does not matter. Yes, Jennie may have taken her first steps in the living room and Mark built the tree house in the old Oak out back, but the homebuyers are not here to pay for your memories. The homebuyers want to buy your home to create their own memories.
The true value of your home and pricing it correctly is an endeavor that should be met with education and patience. You should learn what other homes in your area are going for with the same or close to the same amenities. Learn what the market is doing now. Are homes your size going for the appraisal value or higher or lower? What about the amount of homes in the area with your same amenities? If there are several, then homebuyers will be so many to choose from that yours will no longer be unique. On the other hand, if yours home is the only one in the area with four bedrooms and the market shows four bedrooms are quickly selling, then you have a gold mine.
Want to price your home very low; thinking this will make it sell fast? This is also a huge mistake. If you price your home lower than it is worth, then homebuyers are going to think that something is wrong with the house, the property, the neighborhood, the schools, etc…
When you are ready to sell your home, you need to talk with a qualified real estate agent that will work with you to ensure that you put your home on the market in the right bracket so it will sell instead of the sit on the market. Homes that sit on the market due to pricing become expired listings and most people are looking for fresh homes on the market. Those that have set due to high or low price tags may sit even longer once the right value is asked.
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2 Comments to Want to sell Don’t do this!
Comments
Hey This is Great tips when we get ready to sell our home.Also How Talk with real estate an agent.so informative blog.
Agreed. And don’t forget that, even if a buyer pays too much for a home, the bank usually stops them dead. Banks will only lend based on their determined value of the house. If you’re looking for a 80% loan, they will give you 80% on what they think the house is worth…and guess what? They are going to pick a fair price. If a buyer pays more than that, the bank will demand the excess be paid in cash, and this usually makes the buyer think twice. In the end, your accepted offer is usually worthless…
Glen @ Kamloops Real Estate´s last [type] ..Feb 8- Whats new at MyKamloopsRealEstatecom
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