You are selling your house, but no one wants to buy it. What could be the reason?
Well, there could be several reasons, but the one reason that can be most significant is your asking price. Let’s take a look at an example to help you understand this:
Alex is selling his house in Washington Shores. The house has been on the market for a week but he hasn’t received any offers yet. Another week goes by, and all he gets are a few inquiries. He upstages his house a little so that the buyers could see his house’s real value. Still, no dice. He meets with a few potential buyers. However, after a tour of the house, they too don’t call. Finally, Alex decides to get help from an Orlando realtor and learns the error of his ways. The price he had set on the house was too high and didn’t match the property’s value. As a result, people didn’t find it worth buying.
Now that you know what can stop your house’s sale, let’s look at a few other factors you should consider when setting the asking price:
Property Valuation
First of all, before making the final decision to sell your house, why not get it valuated? A property valuation looks at the house’s characteristics and then determines the right price for it. Typically, property valuation is done by a real estate agent or a professional valuator. An agent can give you a number as well. However, it will be based on first glance and the number of properties they have sold in the area.
On the other hand, a professional evaluator will check the structural integrity of your Orlando real estate, the wear and tear, modern fixtures, market trends, and a couple of other things to determine the price.
Choosing the latter person is a better choice because their valuation will be unbiased and accurate because they do this exclusively and have extensive knowledge about it. Last but not least, one factor that has the most impact on the asking price is “comps.” These are the houses in your neighborhood that were sold recently. They give you an idea about the price range and how much you can increase the price if your house has some unique structural features.
Pricing Your House
After getting your house valuated, you can easily set your house’s asking price. However, now that you know the numbers, you can add in a little room for negotiation. For example, if the house is valued at $274,000, you can increase it to $300,000. This way, when buyers will start to bargain, you can knock a few hundred thousand dollars and still stay within your price range.
And that’s how you price your house! You won’t have problems setting the asking price if you are working with a real estate agent. With the experience they have, you won’t have to worry about settling for a lowball offer. To get in touch with a Sanford Florida realtor, or visit Megan Dowdy Realty or call 407-509-9279.
Photo by: Images Money
Licensed under: Creative Commons
