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? Get a CMA from a local realtor. Do not use a Zestimate from Zwillow or other online home sales aggregators. You need comparables specific to your neighborhood and your homes features and you can only get that from a local realtor.
Consider Condition. Repairs and deferred maintenance will lower the home's value in the eyes of a buyer. If you can't bring the home up to tip top condition, consider lower your price to compensate.
Consider competition.How many other houses are for sale in your area? Are you competing against new homes? Foreclosures? short Sales? Potential buyers will be looking at all of these and comparing them to your home.
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, contactThe Appraisal Instituteor 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.
