Pricing Your House to Sell |
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One of the first things that you need to establish is a listing price for your house.
The best method for setting a listing price is to compare your house to other similar
properties in the community. This process is commonly known as running “comps” or
comparable properties. Your AllQuest Real Estate® Agent will gather some basic
information about your house and create a report that should provide a starting point
for pricing. The report reviews the prices of (1) houses that are currently on the
market; (2) houses that are currently under contract; and (3) houses that have sold
in the past few months.
It’s important to remember that you need to price your house reasonably. If your
sales price is significantly higher than the comparable properties, your buyer may
not be able to obtain financing. Lenders will require an appraisal of the house and
they will base the loan amount on the house’s appraised value.
Keep in mind that your Agent will be marketing your house to other Real Estate Agents,
who are assisting buyers with their home search. If your house is grossly overpriced,
many agents will pass up on showing your house to their clients. They would rather
spend their time showing houses that are priced in line with the local real estate market.
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