As a for-sale-by-owner, how do you figure out how much your house is worth?
More importantly, how can you price your property to sell at a price that appeals to both the present market and you as the seller?
We’ve acquired and sold a lot of homes in Rockford at Modern Times Homes, and here’s some advise based on our own experience for determining the initial (remember: it can always be adjusted later!) sale price for your property!
Calculate the “After Repair Value” — The first step is to figure out what your home’s “real value” is. This is going to Zillow and looking at the sales prices of homes that have sold within the previous 3-6 months that are similar to yours (in terms of size, number of bedrooms, quality, and location). Those figures will provide you with a solid starting point.
Consider Unique Elements – Next, think about both the bad and good aspects of your property’s unique features. Do you have any old appliances in your house? Is it in need of repairs? Is it in perfect condition? Your home’s worth will deviate from the “After Repair Value” you calculated as a result of outdated appliances and repairs… A well-kept home will be more valuable.
Establish a Timeline – How soon do you need to sell? This will have a significant impact on the price of your listing. Choose a lower listing price if you need to sell soon. You may even price a bit more than market value if you have the time.
Don’t overthink it while deciding on a price! After you’ve completed the preceding steps, establish a price that you’re pleased with and that you believe will appeal to potential buyers. If the house doesn’t sell or a bidding battle breaks out, you may always adjust your price later!
Hope that helps!
Give us a call at 8472422212 if you want to avoid the hassle and sell your property as-is for a reasonable cash payment. We can close in as little as two weeks and cover all closing fees!