How to Avoid Going Too Low on Your Home Value

Published by julia | Filed under Buyer / Seller Tips, Market Trends, Miscellaneous, Real Estate

The housing market is definitely a market for the buyer right now. This being said, one has to think of how to avoid selling the house for too little money or too many different changes that could end up costing too much for the value price of the home. There are many different things one should think about before selling their home and about how to sell their home.

1. Know the value of your home before you sell the house. The buyers are going to come in with an idea of how much the house is worth, how much they are willing to buy it for, and how much the neighbor’s house is worth. It is up to you to know how much your house is worth, how much the surrounding homes are worth, and try to keep their expectations much like your own.

2. Know how much you are willing to sell the house for and list it higher than that. That way when the buyers come forward and offer to buy the home for slightly less than you are offering the home for, you are still above what you actually want to get for the house. There may even be some individuals who feel that the home is worth the higher amount and are willing to purchase the home for that amount, rather than attempt to bargain for a lower price.

3. Pay attention to details. A lot of the time, the buyers are willing to pay more for a home if there is a guarantee on the home or if something is replaced or changed. This can end up costing the seller more money than if the house was priced less. Let us say that the buyer wants the house to be priced at five thousand less than you are willing to sell it for, or wants a new roof. That new roof could end up costing more than the five thousand decreases in price and therefore can cost the seller more. This tactic is very common.

4. Think about offering closing cost payments over a lower home price. The typically closing costs are a few thousand dollars. If the seller were to take those costs rather than a several thousand dollar drop in the home price, the seller would be definitely making more on the deal and the buyer would not have to come up with the additional cash for the closing costs.