I Have An Appraisal For The Selling Price! What More Do I Need?

How you arrive at a realistic selling price is often a challenge. Unless you have a very simple, practical, effective system for determining home values, you will spend too much time defending your price position.

The first thing you should do is a property background check. This is the first part of the competetive market analysis you will actually conduct. A lot of the information you will gather is available online. One of the sources I use is the "resources" made available by Zip Realty.

Find the comparable sales for properties in your neighborhood and surrounding area. The results will be for the actual selling prices of properties in your area. Be sure to compare "apples" to "apples" as you do your comparisons.

It is important that you understand that the information you gather from the comparative market assessment will provide you with an "estimate of value". This is very important in determining how to structure your offer to purchase or sell the property. Just remember the "estimate of value" is important to you and it's FREE.

Once you are ready to actually finance the property, you will need an "appraisal of value". In this case you will want to find out what its worth to a lender. Hopefully the values will be about the same. An appraisal is not free and it is required by the lender. They typically cost between $300 and $400, depending on the size of the property.

One way to find a good appraiser is through referrals. If you are well connected enough to be in a pool of "in the know" individuals, this may work out very well for you. Another way to get an unbiased appraisal is to use the services of unbiased appraisers. Please understand, the only bias I refer to is the human bias of influence, one way or another. Sometimes it just can't be avoided.

Insider Tip
Before you put your house on the market, you might take advantage of an It is completely unbiased, and its attractively priced. Getting your own copy of an electronic appraisal will help you set the market price accurately and easily. Remember, when you provide seller financing to your buyer you can easily justify a market selling price premium for doing so. A preliminary appraisal makes everything so much easier.

Professional note investors create profits by purchasing existing notes at a discount. The amount of the discount is determined by the buyer’s criteria and unique situation.

Because of this discount, we do not permit price reductions from the appraised value of the home. To do so would be a tremendous loss of profit for you! Our goal is to get you the most money possible for your property.

Selling Price Insights

All of our transactions are based on the appraised value being equal to the sales price. This process simplifies and standardizes how we determine acceptable values for properties.

You also eliminate the need to “reduce your asking price” if it takes too long to sell the property. There is no over-pricing of properties. We simply focus on the buyers, their unique situations, and the corresponding solutions to their problems.

Our system is very good at "Keeping It Simple"! You get top value, and the buyer’s don’t have to worry about your property being over priced. It is in fact accurately priced. Your focus is on how the deal can best be structured so that a win-win scenario is created.

Now it should be easy to understand the importance of arranging for a certified professional appraisal of your property when you are ready to begin marketing it for sale. You will have a certified selling price.

It’s also a good idea to have all repairs made, maintenance done, as well as cleaning (both inside and out) completed before the appraisal is done.

The selling price of your property will be determined by how your house compares to homes comparable to it in a pre-determined radius.

The challenge facing property sellers is always one of “diminishing returns”. The question is typically, “How much can I afford to put into the preparation for the sale of my property without it costing me money instead of making me money”?

By using the appraisal effectively, you will have great "intelligence" about what your competition is doing in the market. This makes it much easier to know exactly what to do and how much to do as well.

Selling Price Benefits

With our system, if your questionable improvement can’t be done for $500 or less, don’t fix it or replace it! One of the benefits of “seller financing” is the positive impact it has on the appraised value of your property.

You also have the ability to make offers or grant concessions of your choosing with the buyer. This could be an issue because instead of you repainting walls or replacing carpeting, it may be better to let the buyer pick the colors and make those arrangements so you don’t waste the time or money doing it yourself.

That might be spelled out as part of the down payment arrangements. There are lots of ways to structure a real estate transaction. Use your imagination.

These the fundamentals related to establishing a selling price for your property. Get details and a lot more in our limited edition guide, “The Secrets Of Selling Your Home FAST In Good Or Bad Markets”