Tips for Pricing Your Home if You are For Sale By Owner



? Consider comparables. What have other homes in your neighborhood sold for recently? How do they compare to yours in terms of size, upkeep, and amenities?

? Consider competition. How many other houses are for sale in your area? Are you competing against new homes?

? Consider your contingencies. Do you have special concerns that would affect the price you?ll receive? For example, do you want to be able to move in four months?

? Get an appraisal. For a few hundred dollars, a qualified appraiser can give you an estimate of your home?s value. Be sure to ask for a market-value appraisal. To locate appraisers in your area, contact The Appraisal Institute (www.appraisalinstitute.org) or ask your REALTOR? for some recommendations.

? Ask a lender. Since most buyers will need a mortgage, it?s important that a home?s sale price be in line with a lender?s estimate of its value.

? Be accurate. Studies show that homes priced more than 3 percent over the correct price take longer to sell.

? Know what you?ll take. It?s critical to know what price you?ll accept before beginning a negotiation with a buyer.