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Answers (7)
- Reema Sharma, "ReemaSharma"
- Contributions:927
Hire a few local realtors to get a free market appraisal so I can get an idea of the price
- Gwen Janicki, "StrictlyMainLine"
- Contributions:96
FirstFirsFirst you'll want to hire a local Realtor who will do a comparative market analysis (CMA). He/she will research all the recently sold properties in your area that are comparable to your home, compare your major features, sq. ft, amenities, lot size, etc. and determine a recommended list price. If the listing price is not perfectly clear, you can also hire a ‘local' appraiser do a full appraisal on your home. I stress local appraiser because, as a Seller, you can hire someone who understands your local market, location and what might make it special. He will also do a better job of selecting appropriate comps if there aren't any in your immediate area. It's a great way to get an unbiased opinion of your home's value from people who work with banks everyday and know what they expect. Use these two professional opinions to determine your listing price.
Hope you find this helpful!
Gwen Janicki
- Nicholas Ribeiro, "NicholasRibeiro"
- Contributions:1807
CMA containing 3 recent sold comps and 3 current active comps
- Cheryl Talbot Real Estate, "Virginia Beach Homes"
- Contributions:674
Call you local Realtor for a CMA....
- HomeSand.net, "White Picture"
- Contributions:4389
Also, it won't hurt if you research on http://www.zillow.com , look for comparable recently sold homes, home for sale that currently on the market, then compare your home to those, you won't lose a cent because of it.
- Appraisal guy
- Contributions:120
I agree with Wes. Have a Realtor complete a BPO to determine the home value. Another good way is to hire an appraiser to complete what is called a desktop appraisal. They will pull basic info and determine your home value by reviewing comparable sales. If your home is average then this is accurate. If not, have the appraiser come to your home and look things over. This will give them a better idea of the home value. An appraisal by an appraiser is a good way to get a completely unbiased opinion of your home value. Plus I find that there are many Realtors that are new to determining home value and don't have the experience that an appraiser may have. Full time appraisers work with banks all day long and know exactly what the bank wants when it comes to home value. This might be a better way to go, but sometimes you can get lucky and find the value free if you know what you are doing.
- Wes Black
- Contributions:509
The easiest way is to hire a great realtor in your area who will do a comparative market analysis. Basically, he researches all the recent sold houses in your area and compares your major features, sq ft, amenities, garage, lot size etc and determines the list price suggestion. You two then discuss the pros and cons and you are ready to list. If you choose to, you can also hire an appraiser do do a full appraisal on your home. They will visit your home, measure, and review your features and give you their opinion of the value of your house. Now you have another qualified opinion to use in determining your list price. This is the simplified version for you.
When thinking about selling, how do you determine the value of your home?
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- 5.0/5.0
- (10 reviews)
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