WHAT IS INVOLVED IN ARRIVING AT A PRICE FOR MY PROPERTY?

As you interview REALTORS®, they may suggest a listing price on your home. Only you can decide what price to set, but you want it to be realistic. The listing price is critical. Set it too high, and you may not find a buyer. Set it too low and you leave money on the table.Regardless of what you originally paid for your home and the cost of improvements you have made, the price your home can command is what the market will bear at the time you decide to sell it. You may consider hiring an independent real estate appraiser. An appraiser has specialized training and experience. Don’t rely on assessed valuations made for tax purposes. Such valuations may not be reliable indicators of value, as these valuations are made by mass appraisal techniques.

Whether or not you get an appraisal, I can prepare and present you with a comparative market analysis. This analysis will describe homes in your area that have sold recently, as well as those that are on the market currently. The analysis may compare specific features of your home to others – the value of a corner lot, a city view, an extra bedroom, or upgrades, for example. I may also point out any market fluctuations caused by the opening of a new school or business, for example, as well as long-term trends. Once I have presented your options and you’ve decided on a price, I will calculate an amount you might net from the estimated sales price. I will do this by calculating your loan balance and subtracting it, along with your closing costs, from the estimated sales price. The closing costs include title fees, taxes, any prepayment penalty, repairs, brokerage commission, attorney fees, and charges for preparing and recording documents. Finally, ask your tax adviser or attorney about any tax implications or other questions concerning your proposed sale.