We offer the following recommended guidelines
to assist you in ascertaining an accurate sales price. Accurate
pricing
is the
most important task when selling your home either "for
sale by owner" OR with a realtor.
If you are not satisfied
with your own ability to determine a fair market price, hire
an appraiser. This is the most accurate
way of pricing and our recommendation. What better sales tool
to show a prospective buyer who makes a low offer than a professionally
prepared appraisal? We offer two different levels of appraisals.
First we have a walk-through appraisal that is performed by
a licensed NYS appraiser. We charge $225 for this service
and it
can be scheduled by calling our office. The turn-around time
for this type of appraisal is 1-2 weeks. Secondly we have
the INSTANT
ELECTRONIC APPRAISAL! This type of appraisal
will give you an instantaneous, detailed electronic report
of your
home's value
with a full list of comps. This service is priced at $29.
Another
option for determining your sales price is to ask 4-5
realtors active in
your area for their recommendations. This is
commonly referred to as a "fair market analysis".
Compare the realtors' suggestions and choose a price wisely.
Be advised
that realtors are not certified appraisers and their experience
in pricing homes can differ dramatically. They will usually
give you a range of values rather than a specific price. For
instance,
a $145,000 home can receive market analysis ranging from $140,000
to $160,000. So, be careful if choosing just one market analysis
as your determining factor.
You can also choose to price your home on your own. If this is
the option you select, we offer the following suggestions:
- Check
the prices of "comparable properties" in
your area. Go to Domania.com for information on properties that
have
recently sold in your neighborhood.
- Use
the Register of Deeds office in your counties courthouse to
find out what other homes have sold for in your neighborhood.
You will need to know which homes have sold in your neighborhood.
- Check
advertising to find current market prices for similar homes
in your area.
- Go
into homes for sale in your neighborhood similar to yours
for comparison.
- What
is the size and condition of your property?
- What
is the pace of the market?
- What
is the availability and type of financing?
- What
is your motivation to sell?
- How
long do you have to sell your home? If you have a lot of time,
price your home higher, yet if you have to sell quickly,
you will want to have a lower price.
- Leave
room in your price for negotiation. A good general guideline
is 3-5%.
- Be
sure you don't overprice. This could lead to stagnation on
the market.
- Be
aware of the minimum price you are willing to accept.
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