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GUIDELINES
FOR PRICING YOUR HOME
We
offer the following recommended guidelines to assist you in
ascertaining an accurate sales price. Accurate pricing is the most
important task when selling your home either “for sale by
owner” OR with a realtor.
If you
are not satisfied with your own ability to determine a fair market
price, hire an appraiser. This is the most accurate way of pricing
and our recommendation. Arrangements have been make with several
local appraisal services for a limited appraisal for only $200.00.
What better sales tool to show a prospective buyer who makes a low
offer than a professionally prepared appraisal?
Another
option for determining your sales price is to ask 4-5 realtors
active in your area for their recommendations. This is commonly
referred to as a “fair market analysis”. Compare the
realtors’ suggestions and choose a price wisely. Be advised that
realtors are not certified appraisers and their experience in
pricing homes can differ dramatically. They will usually give you
a range of values rather than a specific price. For instance, a
$145,000 home can receive market analyses ranging from $140,000 to
$160,000. So, be careful if choosing just one market analysis as
your determining factor.
You
can also choose to price your home on your own. If this is the
option you select, we offer the following suggestions:
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Check
the prices of “comparable properties” in your area.
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Use
the Register of Deeds office in your counties courthouse to
find out what other homes have sold for in your neighborhood.
However, you will need to know which homes have sold in your
neighborhood.
Wake County Register of Deeds website:
http://web.co.wake.nc.us/realestate/main.htm
Johnston
County Tax Records
http://204.168.68.180/mainpage.cfm?category_level_id=420
Durham
County Tax Records
http://www.co.durham.nc.us/
Orange County Register of Deeds website:
http://gis.co.orange.nc.us/website/ocgis/home/map.asp
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Check
advertising to find current market prices for similar homes in
your area.
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Go
into homes for sale in your neighborhood similar to yours for
comparison.
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What
is the size and condition of your property?
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What
is the pace of the market?
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What
is the availability and type of financing?
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What
is your motivation to sell?
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How
long do you have to sell your home? If you have a lot of time,
price your home higher, yet if you have to sell quickly, you
will want to have a lower price.
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Be
sure you don’t overprice. This could lead to stagnation on
the market.
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Be
aware of the minimum price you are willing to accept.
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