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< About Selling Real Estate
- 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 real estate agent 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.
< About Selling Real Estate
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