In preparing to put your home on the market, if you want to get it to move without unnecessary delay you have to list it at the right price. With too high a price, a house stays on the market for a lengthy period and that is deadly. This can be really a problem if you have fallen in love with a new home, when you are feeling the pressure to come up with the cash to get into the new place.
Using Available Tools to Get Into a Competitive Position
The key to a quick sale is to price your home just below other similar homes for sale in the vicinity. If you use a Realtor, he or she will be able to do a comparative value analysis so you can see the price structure of success in the market. A good Realtor understands the market and can help you set an achievable price point that can be to your advantage and help you get the sale made.
Quick & Efficient Deal vs. Potentially Higher Proceeds
You have to start off knowing that the optimal selling price is not the highest price you can possibly get from your home, but getting the highest price in the shortest amount of time devoted to the process. Your time has a value as does the money you have to spend on your house while it is being sold. If you look at it with this in mind, you can start to see the problem from a new perspective. If you are listing your home when there is a depressed market, you may have to not only lower the asking price after the home goes up for sale, but also offer other extras such as cosmetic repairs or improvements to get a quick sale.
Consider the Timing Too
If it turns out that after considering the case for not going for the highest price you are still stuck on getting top dollar, you may have to be willing to wait until you can get that best price; go with market conditions. Now might not be the best time to be on the market, so you may have to yield on the idea of selling with speed — but still, when the market moves, you may need to act quickly. This could mean selling the home before you have another one, and unless you have relatives or friends with whom you can stay afterwards, you will be defeating the purpose of getting extra profit from the sale by having to move into temporary rental housing until you find another home. This does not work out often but if it does you may be able to get the buyers to stay where they are longer. But in most cases, as soon as they know their mortgage has been approved they will be anxious to close within a week or two.
The Condition of the Home Affects Price and How Fast It Goes
Another thing that sellers sometimes don’t take into consideration when setting their price is whether their home is in the same condition as other homes that were sold for a good price. If you have not maintained your home in top condition, you will not be able to sell it at the same good price as . If this happens you may be successful in pricing it to sell quickly by offsetting the price of any repairs that will be left to the new homeowner. This would result in a lower selling price but a lower level of hassle on your part. Again, what is your personal attention and involvement worth? Work of a serious nature such as a crack in the foundation, shingles, and heating and air conditioning units may not be eligible for this kind of treatment, although you can get away with it for things that affect appearance. Things such as putting in new plants, replacing old gutters, and new paint can sometimes be skipped as long as the buyers know that they will be putting in some old-fashioned labor in exchange for that great competitive price break they’re getting. Some people like the idea of buying a home that needs some work so they can make it fit their needs. Anything you have to do to get through with the sale in the shortest reasonable time is to your benefit.
This article was furnished by Automated Homefinder, Colorado’s Denver real estate specialists.