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by David B. Zwiefelhofer
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page 7 of 21 |
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ot sell your house, and you will probably end up listing with an agent and paying the commission.
There are a variety of methods to determine at what price you should set your house. The method most mortgage appraisers, agents, and others in the business use, is the analysis of comparable houses. If you can determine how much a comparable property sold for, that’s the most likely value of yours. There are a number of ways to find sales prices of comparables. Perhaps the easiest and least expensive way to get pricing information on comparables, is to call a real estate agent and tell them that you are interested in selling your house FSBO and would like some information on comparables. Most agents will recognize that you represent a potential future client, and give you the help you need. They will have a computer system that will quickly pull up the recent sales in your area. Keep in mind that comparables are those houses that have sold in the last six months. Since the homes are likely to be different in a number of ways, and have various pros and cons, you will need to carefully figure how much to add and subtract to come up with a price for your house. The average of all the comparables after adjusting for differences should be your asking price before discounting for commission savings. Remember that the sold prices are the true value, not the asking prices. You can also hire an appraiser to complete an official appraisal which is the same process but much more detailed. These app |
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