When you’re looking to sell a home, one of the most important things to do is to set a selling price. Exactly how you approach this depends on your goals. Some people want to sell quickly, so they’re open to a price on the lower end. Other people want to get every last cent out of the house, so they’re looking to maximize the sale price.
There are many different things to consider at this time. For one thing, you may want to look at comparable properties that have sold in the area. By looking at records of sales or tax records, you can get a general idea of what homes like yours sell for on the open market.
Does the home need repairs?
Another thing to consider is if there is anything about your house in particular that would detract from the sale price. If you’re selling it as-is, that may mean there are some repairs that need to be made. Often, this will take 10% to 20% off of the eventual sale price.
For example, say that the home needs a new roof and it’s going to cost $20,000. A potential buyer may come to you and say they will either pay full price and have you fix the roof before they move in, or they will deduct $20,000 from the sale price and then pay to fix the roof themselves.
Selling your home
Another thing to consider, of course, is that the market is always changing. Even if there isn’t any damage to your home or you haven’t made any upgrades, the price could certainly go up or down relatively quickly, just compared to the other homes around you. It’s important to know what legal steps to take as you navigate this process, and it can help to have experienced guidance so that you can make decisions quickly and focus on your best interests and outcomes.