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The value of your property

The most important factor to consider when selling a house is the price of the property: how much your house is worth? You don't want to overprice your house because you will lose the freshness of the home's appeal after the first two to three weeks of showings.

On an other hand, do not worry about the low price,because homes priced below market value often receive multiple offers, which may then drive up the price to market. Pricing is all about supply and demand.

Comparable listings and Sales

  1. Look at every similar home that was or is listed in the same neighborhood over the past six or twelve months. 
  2. The list should contain homes within a 1 km unless it's a rural region, you can compare houses within few km radius.
  3. Compare similar square footage, within 5% to10% up or down from the subject property, if possible.
  4. Similar ages. One neighborhood might consist of homes built in the 1950s next door to another ring of construction from the 1980s. Values between the two will differ. Compare apples to apples
  5. Compare original list price to final sales price to determine price reduction
  6. Compare final sales price to actual sold price to determine ratios.
  7. Adjust pricing for lot size variances, configuration and amenities / upgrades.
  8. Think about the steps you can take to prevent your home from becoming anexpired listing

Cost and price are different in meaning. Cost is the expenses it takes to prepare your property to sell. the price represents the cost it takes to acquire property.

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