Selling a home in any kind of economy can be challenging, and if you find yourself in a hurry to sell your home you have added more pressure to the situation. When you need to price your home for a quick sale, don't panic. Rather, get to work establishing a competitive price for your market. By following a good plan, you can arrive at a price that will make your home appealing to buyers and help it move quickly.
Instructions
1. Increase your home's curb appeal by mowing the lawn regularly and adding a coat of paint to the exterior trim. Clean the siding and edge the lawn to make your home look more appealing from the front. This will help to add value to your home that you can use to establish a more competitive price.
2. Research the most recent home sales in your area by looking up the real estate transactions in the local newspaper, or in the records archive of city hall. Once you have the sales prices of the most recent properties to sell, drive by them to see how they look compared to your home.
3. Go to the open houses of other homes currently for sale in at least a two- to three-block radius of your home. Keep the real estate listings for these homes and make notes on their condition, how many rooms they have and any other amenities they feature.
4. Contact your current mortgage holder and find out what the buyout is for your mortgage. If you sell your home on your own, add an additional 5 percent to your mortgage buyout to get an estimate of what your total sell cost would be with closing costs. If you plan on using a real estate agent, add 10 percent to your buyout price to determine your final cost.
5. Compare both the homes you visited that are currently for sale and the homes that have recently sold to your home. Try to find homes that are as close as possible to your home's setup in terms of number of rooms, square footage and amenities.
6. Establish a price below all of the prices of the homes closest to yours, but keep the price at least 10 percent above your final buyout cost. This 10 percent can be your profit, but it can also be your negotiating room. If your buyout cost is higher than any of the selling prices you are comparing to, you will need to remodel and add value to the home in order to sell it quickly.
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