VALUABLE TIPS FOR SELLING YOUR HOME
Understand Why You Are Selling. Your motivation to sell is the determining factor as to how you will approach the process. It affects everything from what you set as your asking price to how much time, money and effort you are willing to invest to prepare your home for sale. For example, if you need to sell quickly, your approach will be different than the approach to maximize profit. Doing Your Homework Before You Set the Price. When the price is set, that generally is the signal for the maximum you will accept for your home. As a seller you naturally want to get as close to the list price as possible.
If you start out too high, you run the risk of no showings; if you price too low, you leave money on the table:
Comparative Market Analysis. Your Realtor will perform a CMA to evaluate comparable home sales, competition, market trends and other factors to help you determine a realistic price.
Consider getting an appraisal. You may want to invest in an appraisal as it helps in the negotiation and also reassures buyers that the home will appraise for financing.
Home shopping. The best way to learn about competition is to check out other comparable homes. Your Realtor will help you use this information in the valuation analysis.
Ensure you have room to negotiate: You need to achieve a balance between negotiating room and pricing too high for the market.