Home Selling Series – Tips for Pricing Your Home

Here ore some things to consider when discussing with your agent the selling price for your home

  • Consider The Comparable Properties.

What have other homes in your neighborhood sold for recently? How do they compare to yours in terms of size, upkeep, and amenities?

  • Consider competition.

How many other houses are for sale in your area? Are you competing against new homes?

  • Consider your contingencies.

Do you have special concerns that would affect the price you’ll receive? For example, do you want to be able to move in four months?

  • Get an appraisal.

For a few hundred dollars, a qualified appraiser can give you an estimate of your home’s value. Be sure to ask for a market-value appraisal. To locate appraisers in your area, contact The Appraisal Institute or ask your REALTOR® for some recommendations.

  • Consider a Home Inspection.

Yes, it will be another few hundred dollars but it will help give you an objective opinion of your homes conditions and may identify things that need to be repaired and would delay selling if it shows up during the purchase process

  • Ask a lender.

Since most buyers will need a mortgage, it’s important that a home’s sale price be in line with a lender’s estimate of its value.

  • Be accurate.

Studies show that homes priced more than 3 percent over the correct price take longer to sell. Your agent should provide you with local market analysis and be able to factor in anything unique about your home that should be reflected in the price.

  • Know what you’ll take.

It’s critical to know what price you’ll accept before beginning a negotiation with a buyer. Always have your bottom line defined and agreed. Also, consider what other negotiating options you may have available as you move through the process. Things like offering a home warranty or an allowance for carpeting, window treatments etc. may work as negotiating tools.

What other things can you think of that may be worth considering when you are pricing your hom. Let us know and leave a comment below!

About gvenice

I have over 25 years of electrical engineering and business management experience. I previously owned and managed a multi million dollar engineering firm. My work took me all over the globe, managing the construction of manufacturing plants where I built a reputation of providing superior service, getting projects done on time and within or under budget. My dedication to the fine details and logical approach to accomplishing tasks provide a huge benefit to my Real Estate clients. After selling my business and retiring to this area, I found a new passion in the Real Estate business and I bring to this business the same level of professional skill and conduct that has made mr successful in the past. My global exposure and extensive travel are also an asset when dealing with a customer base that is located worldwide. An avid boater, I have a thourough understanding of the waterways of East Tennessee and the intricacies involved in dealing with the TVA and the Army Corps of Engineers.
This entry was posted in Chattanooga, East Tennessee, Home Maintenance Series, Home Sellers Series, Knoxville, Property Investment, Real Estate, Real Estate Investment, Watts Bar Real Estate and tagged , , , , , , , , , , , . Bookmark the permalink.

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