By Geri Mason
(there is a free ebook: 101 Tips For Selling Your House,for you to download, from a link at the bottom of this page).
When your for sale by owner home has been sitting on the market for months without a satisfactory sale one of the first things you wonder is if your price is too high.
This is a question that will take some research and analyzing to answer.
Think about how many qualified buyers you have shown your house to.
How many of them have made offers on your for sale by owner home?
If buyers have been coming to showings but have not been making any offers on the home, the problem could very well be that your home is overpriced.
Before you slash the price on your for sale by owner home, first consider some critical factors.
How long has it taken to sell homes, both for sale by owner and real estate agent assisted, in your area that are in a similar price range?
It might be time to cut your price if your home has been on the market for at least half that time.
The longer your for sale by owner house stays on the market, the less attractive it will be to buyers.
Suspicion arises when a home has been on the market for more than a couple of months, even if the price is the only thing wrong.
Pay attention to what's going on in the real estate market around you.
Are there more listings in your area than there was last year? If there are more houses on the market, buyers have more to choose from. This means you will have to be a little more competitive with the price on your for sale by owner home.
Take some time to visit open houses of similar homes that are for sale in your area. Look at these homes in comparison to yours. Take note of the good and the bad of these houses and use that to gauge your home price.
Look at your for sale by owner home and selling price objectively. If you were on the market to purchase a new home would you pay that price?
Instead of cutting your price, you might want to offer other incentives to get buyers' attention.
Offer to pay part of the closing costs.
Some states have a maximum amount that the seller is allowed to contribute.
If your budget allows, max out your contribution to the closing costs. This will decrease the amount of cash the buyer has to spend and make the deal look more attractive.
Should you decide to reduce the price on your for sale by owner home, make sure that you advertise this new price and contact people who have shown an interest before but not purchased to see if lowering the price will make the sale.
About the Author: Download 101 Free House Selling Secrets Here-with resale rights: 101 House Selling Secrets
|
