The Insider's Guide To Selling Your Home By Owner- Rocio Fausto I | Page 63

increasing rapidly.
There was nothing similar available for less than $650,000.
The seller owed $650,000 and so we priced the property at
$699,900. And guess what? It sold 3 months later for $674,000.

How to price your home in a buyer's market.
If your local market is a buyer's market, then you should
look at all of the other homes for sale and make sure that your
home is priced competitively with them.
If your home is not selling, then you will need to adjust the
price until it sells. This is never fun.

How to determine your home's exact value.
There’s more than one way to find out the value of your
home. You can use the following method singularly, but a
combination of some or all of these suggestions will likely give
you the best pricing direction.
Hire an appraiser: Before a buyer can get a home loan, the
bank will require an approved appraiser to come out and make a
valuation of the desired property.
However, one good way to get an accurate dollar value of
your home now is to hire an appraiser yourself well beforehand.
The cost can run anywhere between $300 and $600, or more,
depending on your location.
Hire a realtor: Even though you’ve chosen the For-Saleby-Owner route for your home sale, you can still contract with a
local realtor to provide a CMA for you.
A Comparative Market Analysis is one of the tasks a real
estate agent takes on when hired by sellers anyway, although it is
just part and parcel when you hire a realtor to sell your home.
62