One of the First Steps to Home Selling is setting the price you want to sell it for, and it’s not a simple formula. Many elements factor into the decision. Throughout this book and course, you will read examples of similar and similarly situated houses that sold for very different prices, along with the reasons for the disparities. A calculated home value is not necessarily what you believe your home is worth. Recognizing this helps avoid overpricing, a major factor that leaves homes languishing or unsold.
This is what we’ll be discussing in Chapter 1 of How To Sell Homes Fast For Top Dollar that you can read online
WHAT IS YOUR HOME WORTH?
The first step in selling your home is knowing the difference between value, worth, and price. Let’s examine the determining factors at work. Understanding those factors allows them to be leveraged. There are several ways a home’s value is derived.
Nothing determines the sale price of a piece of real estate but the price at which it sells. Houses are not same-priced identical cans of tuna on the grocery store shelf or shares of stock valued and traded every day on the stock exchange.
Real estate appraisal (“property valuation”) is the process of developing a perspective of value for real property. This is the market value — i.e., what a willing, reasonable buyer would pay for the property to a willing, reasonable seller. Real estate transactions generally require assessments because they happen infrequently and every real property is unique in features and characteristics.
An appraisal helps in various decision points. The seller can use the appraisal as a basis for pricing. The buyer can use it as a gauge on which to base an offer. Lenders use appraisals to know how much money to credit to their borrowers.
COMPARATIVE MARKET ANALYSIS BY A REAL ESTATE PROFESSIONAL
This type of home valuation is free from real estate professionals and more helpful than automated online offerings. It provides detailed information on each house sold in your area over the last six months, along with the final sale price. It also includes the specifics of all the houses for sale in your area, including the asking price. These homes are your competition. The real estate professional will also answer any questions and help you price your home realistically.
Along with an understanding of how the worth of a home is determined, the current market must be considered. By utilizing a professional real estate agent, you can rely on proven expertise to market your home at the best listing price.
Watch the video and then read the corresponding chapter of How To Sell Homes Fast For Top Dollar. Then ask David your questions, so he can record more videos to answer them and provide more clarification as needed.
If you have a home to sell, call me at (727) 249-4022 so we can talk about your home selling goals. We’ll work together intensively on selling your house fast for top dollar.
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