The single most important factor to consider when selling your property is pricing it correctly. If you are serious you will carry out a plan. Pricing your property within a realistic market-related value is an important factor for a successful sale. Sellers generally aim 10 – 15% to high despite the slow market.
This could lead to your property sitting on the market shelve and it may then become old to buyers.
Keep in mind that thousands of buyers get instant email alerts when your property is listed on the internet. They will decide if they like it and whether they want to make it their home. The other important factor they will look at is the value.
This immediate opportunity to attract serious interest from buyers could be missed.
Buyers buy by comparison and elimination and they compare prices and value for the money they pay. Be aware of what offer you will consider and how you think when you have to buy a property in another town. The memories you made in your property and how you cared for it could add to your personal value opinion of your property being increased.
Make use of correct market information.
First, you can start by looking at what is offered for sale on the market that is similar. Find out for how long it has been advertised for. It could be that there is a problem with the property or that the expectations of the seller are too high.
Market value is an opinion of value that is based on an analysis of the data that is available from the market. To determine the market value is to determine the most probable price that a property could realize in an open market, between a willing and able buyer and a seller, that is informed about property values in the area and do not act on forced impulse.
Willing and able – Divorce, deceased estates or financial troubles have some force behind a sale price. Someone without reason just moving to another town is more neutral. Lack of information – It could also be that a buyer pays to much for the property because he is not aware of prices for similar houses that sold in that neighbourhood. This will be evident when the property is immediately placed back on the market without attracting interest. This rarely happens because buyers have plenty of information available on the web. Between this high and low considerations will be the market value.
Market Price is what is agreed upon by a willing buyer and willing seller. The Price is what a willing, ready, buyer will pay for a property, and what the seller will accept for it. This transaction that takes place indicates what price is agreed on, which will then influence how to determine the market value of a property.
The past twelve month sales that took place of similar properties is very valuable information that will show you what is going on in the market.
Compare the sales price of three or more properties that are similar to yours. The more sales there is to use and compare, the better.
By looking at what sold, at what price and how quantities sold over a period in the neighbourhood you will be able to see what the demand is for similar properties. The market will indicate a trend that can be read from the information. This will help you decide on a price to competitively place your property on the market.