The Four Most Important Factors in Selling your House

There are four key factors you must fully understand if you are going to sell your house for its full value.
These four factors are:

  • List Price
  • The Condition of your Home
  • The Market Exposure Your Home will be given
  • The Final Terms of the Agreement

Everyone who sells a house wants to realize as much money as possible in the sale of his or her home. But a list price that is too high often gets the seller less than the market value! Overpricing, particularly in a buyer's marketing, can be disastrous. The market value of a house is the price that a willing and knowledgeable buyer and seller will agree upon. Only the market value is of importance to the buyer!

The market value of your house if based on 4 factors:

  • Recently sold prices of other comparable homes in your neighbourhood, or comparable neighbourhoods
  • Market trends, which may be increasing or decreasing the values in your area
  • The condition of your home at the time of viewing
  • What you are prepared to negotiate in the Agreement of Purchase and Sale
How do you determine what the initial asking price should be?
  • Look closely at the market values (recent sold prices) for comparable properties in your area
  • Discuss with your listing Realtor what the Market value of your home should be (Ask yourself what you would pay if you were the buyer)
  • Set your price within 2-3% of the market value