The Right Price For Your Home
By Anjana Appanna
In most cases the seller sets the price of his property at an amount slightly higher than his actual expectation. This is because it is fully accepted that the buyer will begin his bid at a lower amount. Price is certainly the most negotiated topic in any property sale. And it is possible to creatively provide value for money to the buyer without lowering the price.
One of the many incentives you can provide while selling your home is the inclusion of home appliances such as the stove, refrigerator, dish-washer and microwave. This will provide a better ability to negotiate. While you are likely to be including some of these items in your initial asking price, you can consider leaving out some items to add weight to later negotiations. Appliances such as window furnishings, air conditioners, the entertainment unit, ceiling fans etc, can be used innovatively in a counter offer.
Observe the buyer's personal choices and situation to come up with better ways to enhance the offer in a way that is suitable to both parties. Also keep in mind your future requirements when you offer to include home appliances in the pay package.
If the existing mortgage rate of your home is lower than current market rates and your mortgage is transferable, it would be a great idea to offer it to potential buyers allowing them to save on future mortgage payments. In this system not only will you benefit but the buyer can also enjoy savings for the remainder of the mortgage period.
One of the most common errors made by home sellers is that of over pricing their home. It is assumed that by quoting a much higher price, you are leaving room for negotiations, hence increasing your chances of getting your desired rate. But pricing yourself out of the market will work against you. It may turn potential buyers away to a more reasonably priced property.
To help determine your asking price, contact a CRA (Certified Residential Appraiser) for a complete analysis of the market and property schemes. With the help of a professional you will be able to ask for the right price for your home. The key to selling your home quickly and effectively is to establish a reasonable asking price.