Zillow Advice: Pricing - Can you set a selling price for your house that is higher than its worth? http://www.zillow.com/advice-thread/Can-you-set-a-selling-price-for-your-house-that-is-higher-than-its-worth/264775/ Zillow Advice | Zillow Real Estate At the end of the day, your ... http://www.zillow.com/advice-thread/Can-you-set-a-selling-price-for-your-house-that-is-higher-than-its-worth/264775/ At the end of the day, your home will only sell for what the buyer's lender appraises it for, and not a penny more. That appraiser is going to use comps - the same information that your agent would use when writing up a CMA.&nbsp;<br/><br/>It's not the price you want that is going to determine the selling price, it's the market value that will.&nbsp;<br/><br/>A lot of sellers have a misconception that a cash buyer can and will pay more than the property will appraise for - this is simply not true. 90% of the time that a buyer comes to the bargaining table with cash, it is only to offer you more incentive to pick their offer over others. Usually the incentive isn't that they don't need a mortgage, but that they can close within a 2-3 week period. Once you accept the offer, the cash buyer will get their bank on the scene and have the property appraised. Once they close, the bank give them a mortgage, and the cash gets returned.&nbsp;<br/><br/> Thu, 10 Oct 2013 03:44:00 GMT http://www.zillow.com/advice-thread/Can-you-set-a-selling-price-for-your-house-that-is-higher-than-its-worth/264775/ 2013-10-10T03:44:00Z Yes. Absolutely, it's entirely ... http://www.zillow.com/advice-thread/Can-you-set-a-selling-price-for-your-house-that-is-higher-than-its-worth/264775/ Yes. Absolutely, it's entirely up to you on what you want to list your home for. I suggest doing some research to see what similar properties in your area are going for. Often times sellers will list there properties higher than what they are worth and settle during the negotiation process at fair market value. Wed, 09 Oct 2013 07:28:00 GMT http://www.zillow.com/advice-thread/Can-you-set-a-selling-price-for-your-house-that-is-higher-than-its-worth/264775/ 2013-10-09T07:28:00Z There are a few ways to look ... http://www.zillow.com/advice-thread/Can-you-set-a-selling-price-for-your-house-that-is-higher-than-its-worth/264775/ There are a few ways to look at this, while you can certainly price a home above the market value it's not necessarily the best way to get top dollar for your home. Often we have found the best strategy (depending on demand in your area) is to price a little below market value, promote heavily and create a "bidding war" with multiple offers. Keep in mind, there is no danger in under pricing your home unless you are too eager to accept the first offer you get. As long as you wait for multiple offers you can truly see the top amount able buyers in your market are willing to pay for your home.<br/>Zillow's "Make Me Move" program is a great way to test the water on the price you have in mind.<br/>Another way to generate top price (sometimes even above market value) is offering a lease option or seller finance. Just be sure to meet with an agent to discuss the full ramifications of this option and any potential issues there could be with the underlying loan you have in place.<br/>Finally, you could also meet with a Realtor and have them watch your neighborhood value. As soon as it appreciates to the price you're wanting to sell you can get on the market and strike while the iron is hot. This prevents you from sitting on the market while it's lower and creating the sense that you're a stale listing.<br/>Hope this helps, best of luck! Tue, 08 Oct 2013 18:07:00 GMT http://www.zillow.com/advice-thread/Can-you-set-a-selling-price-for-your-house-that-is-higher-than-its-worth/264775/ 2013-10-08T18:07:00Z You can go a little high ... http://www.zillow.com/advice-thread/Can-you-set-a-selling-price-for-your-house-that-is-higher-than-its-worth/264775/ You can go a little high but too much over will just put you out of the market. Tue, 08 Oct 2013 17:28:00 GMT http://www.zillow.com/advice-thread/Can-you-set-a-selling-price-for-your-house-that-is-higher-than-its-worth/264775/ 2013-10-08T17:28:00Z You can set your selling ... http://www.zillow.com/advice-thread/Can-you-set-a-selling-price-for-your-house-that-is-higher-than-its-worth/264775/ You can set your selling price at whatever you want. &nbsp;If it is completely out of the ballpark it simply wont sell. &nbsp;Someone else mentioned that it is the slow time of the year, but you should really look at what the inventory is in your market. &nbsp;If homes are moving still than it may be worth listing. &nbsp;We have some markets in NJ that are better than others just like anywhere else in the country. &nbsp;If your market is a sellers market than you may want to try your hand, just dont price yourself too high. &nbsp;Good luck! Tue, 08 Oct 2013 17:13:00 GMT http://www.zillow.com/advice-thread/Can-you-set-a-selling-price-for-your-house-that-is-higher-than-its-worth/264775/ 2013-10-08T17:13:00Z Unless you get an "all cash" ... http://www.zillow.com/advice-thread/Can-you-set-a-selling-price-for-your-house-that-is-higher-than-its-worth/264775/ Unless you get an "all cash" offer which trumps an appraisal--you should have it priced accordingly. Tue, 08 Oct 2013 15:43:00 GMT http://www.zillow.com/advice-thread/Can-you-set-a-selling-price-for-your-house-that-is-higher-than-its-worth/264775/ 2013-10-08T15:43:00Z We are coming into a slower ... http://www.zillow.com/advice-thread/Can-you-set-a-selling-price-for-your-house-that-is-higher-than-its-worth/264775/ <p>We are coming into a slower time of the year to sale a home and so I would wait till the first of the year to list it if you are trying to get top dollar for the home.&nbsp; There will be more buyers in the market at that time and will give you some time to let the market come up to where you would like to be on the sales price.</p> Tue, 08 Oct 2013 15:05:00 GMT http://www.zillow.com/advice-thread/Can-you-set-a-selling-price-for-your-house-that-is-higher-than-its-worth/264775/ 2013-10-08T15:05:00Z Aside from the appraisal ... http://www.zillow.com/advice-thread/Can-you-set-a-selling-price-for-your-house-that-is-higher-than-its-worth/264775/ Aside from the appraisal concerns that others have mentioned here, the real danger in pricing your home too high is that you are basically helping your neighbors sell their homes faster and undermining your own sale.&nbsp; As buyers compare local listings, they will see your home priced higher than most others and think "I like it, but I can get something similar for $30,000 less <em>(as an example)</em> down the street, so I'm going to go for that one." If you aren't ready to sell at the price the market is at, and you can afford to wait, that may be your best bet. Tue, 08 Oct 2013 15:00:00 GMT http://www.zillow.com/advice-thread/Can-you-set-a-selling-price-for-your-house-that-is-higher-than-its-worth/264775/ 2013-10-08T15:00:00Z I like Zillow, but in the ... http://www.zillow.com/advice-thread/Can-you-set-a-selling-price-for-your-house-that-is-higher-than-its-worth/264775/ I like Zillow, but in the end it can only judge homes by htd sq footage and homes selling in proximity, it cannot determine condition or anything else.&nbsp; Like home is on the water or the shack next door was a meth house and sold in foreclosure.&nbsp; So contact a professional, I would never use it for valuing your home. Tue, 08 Oct 2013 14:56:00 GMT http://www.zillow.com/advice-thread/Can-you-set-a-selling-price-for-your-house-that-is-higher-than-its-worth/264775/ 2013-10-08T14:56:00Z Be careful about "over pricing". ... http://www.zillow.com/advice-thread/Can-you-set-a-selling-price-for-your-house-that-is-higher-than-its-worth/264775/ Be careful about "over pricing". Even if you listed your home and got an offer on it at the price that you set, it still has to appraise for that price. If it can't appraise for that, then you have wasted your time and efforts. Unfortunately appraisers take into account what the homes around you are selling for, even the short sales and foreclosures.<br/>&nbsp;Speaking with an agent is your best bet on setting an appropriate price for your home. If it isn't the price you are looking for it may be best to wait since the market in most areas is improving. Good luck!&nbsp; Tue, 08 Oct 2013 14:50:00 GMT http://www.zillow.com/advice-thread/Can-you-set-a-selling-price-for-your-house-that-is-higher-than-its-worth/264775/ 2013-10-08T14:50:00Z