Pricing Your Home

For sale by owners often have a lot of trouble pricing their homes for sale. If you price it too high, your home may sit on the market for months, and people may begin to think something must be wrong with it. If you price it to low, it may sell quickly, but you could lose out on thousands of dollars.

One of the best ways to set your price is to look around your neighborhood. Scope out the real estate prices in your area. Try and find a comparable property to yours: Location, Age, Bedrooms, Baths, Square Footage, etc. By seeing what other homes in your neighborhood are priced at, it may help you determine the best selling price for your property.

You could also hire a real estate appraiser. Keep in mind there is a difference between market value and appraised value. Market value is the amount a buyer is willing to pay for property. Appraised value is what a bank thinks your property is worth, and is determined by a real estate appraiser who uses comparative properties, plus a physical inspection of the home to determine the condition. It is very common for the appraised value and market value of a home to span several thousand dollars.