Setting the asking price for your home

It's said that selling a home comes down to three factors: condition, location, and price. Condition can be improved to a point but location can never change and that leaves price as the only adjustable factor at your control.

Setting the correct asking price from the beginning is extremely important because:

If you price your home too high, potential buyers may never even see your home
An overpriced home will sit on the market longer, which means you have to deal with showings longer and that causes stress
Buyer's will determine the correct price before making an offer anyway and then you will have to settle for something much lower than you expected

To determine the asking price for your home, begin by getting a Competitive Market Analysis from at least one Realtor. You may also choose to get a professional appraisal but understand that the true value is determined by the buying market, not by the figures an appraiser examines. I have seen homes sell for less than the appraised value of course, but I've also seen multiple people bid and pay much more for a property than the appraised value.

Step 3: Marketing a Home...