Deciding
to sell your property is the first step in a real estate transaction. After
this, there are certain other factors which require to be considered by you to
get the best price for your property.
In the real estate market,
as the potential buyers find a large number of similarly placed properties,
they do make heavy bargain to get the property at the lowest possible price. In
case you quote a fancy price for your property, your property will remain
unsold.Therefore, you, as a seller, should set the price for your property at
a scientifically arrived at figure keeping in mind the prevailing market
conditions for similarly situated properties and other relevant factors.Thus,
there is a need for you to know the sources and the method for determining the right price of your property.
The appraising process is
time consuming since there are lot of factors to be considered. Since this is a
technical job, it is better to engage the services of a licensed/government
approved appraiser to do the appraisal of your house in whom the buyer also has
confidence.The appraisers may be members of the local Board of Realtors.The
fee and other charges to be incurred in obtaining appraisal report would vary
and depend upon the value of the property, location, etc.Both the seller and
the buyer must be prepared to wait till the appraising process is completed
since both the buyer and the vendor would benefit from this. The appraisal
report would give details as to how the value shown therein in respect of the property under consideration is arrived at.
Thus, on the basis of
appraisal report, the price for the property may be fixed. Since the value
shown in the appraisal report is fixed is by an expert in the field, there
would be no scope for suspecting the value as shown therein and therefore,
marketability of such property is high.
Similarly, you may utilize
the services of real estate agents since Competitive Market Analysis [CMA] is
carried out by the real estate agents systematically to determine the correct
selling price for the property. Real estate agents have access to multiple
listing service computers, which they can use to fix your property properly.
Since real estate agents do this service for their livelihood, you can rely
upon them and be sure that they know of what they are doing and they have the
capacity to get the deal finalized satisfactorily. Therefore, seeking the
advice of an experienced real estate agent would help you in arriving at the
fair selling price for your property.
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