Pricing Your Home To Sell -

The fact of the matter is that your home will sell at its market value. Over pricing your home will most likely cause it to stay on the market for too long. The best chance to sell your property is within the first seven weeks. Pricing it realistically increases the chance of a timely sale.

Here are some important facts to consider:

To reach maximum exposure the price must be competitive with similar properties.
A buyer will typically look in their pre-determined price range. Pricing your home too high will only hurt your chances of exposure to qualified buyers.
If your plan is to adjust your price at the time of sale, know that you are not putting yourself in a favorable position. If you adjust your price now, your chances of attracting serious buyers will only grow.
Receiving a reasonable offer on an overpriced property is unlikely. The buyer will most often make an offer that is very low, if an offer is made at all.
Do not think that you will receive more for the property by asking more. Chances are that you will be offered much less as the exposure to it will be less.
By pricing your home reasonably, your invite the possibility of receiving multiple offers, as more buyers will see it.

Why Sellers want to Over-price

Seller has over-improved the property
Seller fears making a mistake in pricing
Seller paid too much for the home
Seller hopes to buy a higher-priced home
Seller needs money
Seller just wants to play the market
Seller has a guaranteed corporate buyout
The neighbors who sold in the past got a higher price

The Results of Overpricing

The property will be marketed to the wrong prospective buyers
Helps your competition sell their homes
Will increase the marketing time and decrease the possibility of selling
If you do receive an offer, having it priced too high may cause problems with the appraisal