•
Consider comparables.
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.
•
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.
•
Know what you’ll take.
It’s critical to know what price
you’ll accept before beginning a negotiation with a buyer.
Reprinted from
REALTOR® Magazine (RealtorMag.Realtor.org)
with permission of the NATIONAL ASSOCIATION OF REALTORS®. Copyright 2008. All
rights reserved.
