One of the most important decisions you need to make before selling your home is to find the right price. You often get different amounts from different estate agents. The danger if your price is too high is that you may not sell your home. However, if the price is too low, you will get significantly lower returns.
It all begins with you
Since this is an essential decision, you need to take all the necessary measures to ensure that whatever price you put on your property will work in your favour. First, you need to do all that is possible in order for your home to be more appealing. Next, you need to research and decide on the most realistic estimate for the value of your home. After all, it is not the estate agent but you who will ultimately decide on the final value. The last step is to come up with a selling strategy - are you going with an online estate agency (such as Yopa, HouseNetwork, Purplebricks etc) or a traditional high street agency (e.g. Foxtons, Bairstow Eves, Haart etc), this depends on how fast you want your home sold.
Tips on how to choose the right valuation
Some people often rely on third parties to provide them with a valuation of their home. Estate agents and lenders provide a valuation depending on specific agendas. Here are some tips on making sure that you get the right valuation for your home.
* Look for local estate agents to help you with valuation. The advantage of local estate agents is their knowledge of the local housing market and trends. However, you still need to make sure that the valuation is realistic and not merely a ploy for you to instruct them. In choosing an estate agent, you have to check their previous track record of being able to achieve sales according to the asking price.
* You have to do your own research if you want to expertly come up with the right valuation for your property. There are online home valuation tools that allow you to check both high and low estimates.
* While doing your research, you should also check similar properties and how much they have sold for. Aside from this, you also need to check how much similar properties are currently selling for.
* You should also be on top of the current trends in the local housing market. This will give you an idea of what to expect and at what price point you might obtain a sale.
* You should also be able to factor in negotiations with the buyer. Potential buyers will often assume that there is some room to negotiate the price. Every seller should be flexible enough for this because it makes the buyer feel more confident that they are getting the right price.
* Factor in miscellaneous fees such as stamp duty.
The valuation of your home should be given much importance not only for you to get the right profit, but to ensure that you sell your home in the least amount of time.