Set Your List Price
Setting the sale price of your home is a tricky business and your Realtor will be there to guide you throughout the process. The main thing your should be aware of when setting the list price is how the buyer views things and what the various pricing considerations that this way of thinking brings.
If you set the price too high, your house won't be picked for viewing, even though it may be much nicer than other homes on the street. If you price too low, youll short-change yourself.
How To Set The Price
When listing your house try and use comparable sales to guide you. No matter how attractive and elegant your house is, buyers will be comparing its price with everything else on the market. Your Realtor can help you examine other sales, aiding you to set a fair price for yours, by producing a CMA: Comparative Market Analysis.
A CMA can help you look at other houses on the market and compare yours to current market conditions.
If there have not been many real prospects looking at your home after about three weeks, you may need to lower your list price or offer incentives, such as paying some or all of a buyers closing costs.
Once you settle on an estimate of the market value of your property, you can get a rough idea of how much cash you might walk away with when the sale is completed. This can be particularly useful as you start looking for another home to buy, as things like paying off your present loan, brokers commission, attorneys fees will have to be deducted to see how much you really have to spend on a new place.
