Tuesday, September 19, 2006
SELLING? Appraisals are critical now
If you are selling in a buyers market, be sure that you understand what the suggested listing price consists of (if you are using a realtor). In a down market, if you price too high you may not sell in your time frame. Conversely, if you price too low you could leave some money on the table. Incentives to the buyer can help in getting your property sold on time, such as; assisting with closing costs, seller financing part of the loan, making major repairs, etc. If you are priced too high, the buyer may not be able to get a loan.
Many appraisers now take into account pending sales, current list prices, supply and demand, time on the market, price fluctuations, defaults and trustee's sales, incentives, and the market perceptions of real estate agents.
Many appraisers now take into account pending sales, current list prices, supply and demand, time on the market, price fluctuations, defaults and trustee's sales, incentives, and the market perceptions of real estate agents.
