How to Price a House to Sell

Family and a House For SaleSelling a house can be very tricky. In addition to being good at making consumers, sellers also must carefully determine the price because the house which is sold individually does not have a standard price. If you want to sell a house, there are several steps that must be done:

  1. Do a survey in the neighborhood. Is there any house for sale? Study the price.
  2. If there is no house for sale in the neighborhood, find one at a wider area. It is necessary look at comparables for similar houses as a guide for you as the seller.
  3. Based on the offer from the comparables, make necessary adjustments to your home. The comparison can be seen from several points, such as the area of ​​land and building, legality (certificate), the characteristics of the house (the direction, flood free or not, shape and age of the building, etc.). Thus, you would find the fair market price for the house to sell.
  4. If your house is better than the comparables, then offer a higher price, and vice versa.
  5. To know whether you have determined the right price, try to analyze the price of land + price of building. After you get the results, then offer it with a price of 20 % above it. When you deal with any price negotiation later, then you can defend the reasonable price which has been determined before.

Sellers must specify the lowest price for the house (floor price), while buyers must be able to determine the highest price they pay (ceiling price). At the intersection between the ceiling price and floor price, there the negotiations and transaction (market price) will occur.

To that end, you should not overprice the house because prospective buyers usually  have conducted a survey on price of house for sale in the surrounding area. If it’s too expensive, no one will want to buy the house. With a reasonable price, the buyer will surely come.

If you don’t have much time to do a survey for determining the price, you’re worth using property appraisal. However, the property appraiser will also do the same appraisal. Property Appraiser is needed for buyers and sellers to enter the market price corridor.

Costs for property appraiser are based on the difficulty level of assessment. If it is only one home, the cost ranges from 100 to 200 U.S. dollars, but if it is several houses, the price is lower. The results can be seen within one to three days.

Image credit: bcehricardogaribay.com 

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