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 (www.appraisalinstitute.org)
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.
