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How to determine the selling price of your house?

When the time comes to sell your home the first question which comes to everybody’s mind, is the of how much should I sell my house for?
The answer to that question will not be found in a crystal ball, but in a thorough investigation. Yes, you will be the one taking the decision at the end but, you don’t have to be alone. Talk to your realtor and make sure that together you will go over all the parameters involved in home pricing.

Market reality:
Every home owner has a number in mind when it comes to sell his house, but sometime reality can be harsh. A home price will always be what people are willing to offer for it.

Your reality:
A very important factor is how much you paid for your house. If you sell your house even a slightly higher price you will most likely lose money during that transaction. You need to take in consideration all the fees and expenses attached to that process (Agency fees and closing cost). So make your math!

This is where your realtor can really help you by doing for you a detailed and well documented “CMA”, a comparative market analysis. By looking at the recent sales prices in your area from homes comparable to yours, and moderating those numbers according to specifics missing or additional houses amenities. Ask also to your agent to make you some simulations so you will know according to your selling price how much money you will end up with.

Laurent Mollard

 

 

 

 

 

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