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Setting A Fair Price In Sale By Owner

Oct 8, 2007
Selling your home by owner means that you need to set a fair asking price. Not only should the asking price suit your needs, but it should also attract potential buyers as well. You will find out soon enough that if you priced your home too high that people are going to stay away. This does not mean that you should set a below market value, but you should price your property fairly.

Of course, there are times when you may feel that lowering your asking price is the thing to do. If you are faced with this decision, there are several things that you should look at. First off, how did you price your home in the first place? Did you base this on other homes in your area? Or did you decide to do this without any prior knowledge? If you priced your home fairly the first time around based on comparable properties, you may not want to lower your price. But if you did not do this, it may be time to make a change. Remember, if your asking price is scaring buyers off you are going to stay put for a long, long time.

It is not always easy to lower the asking price of any home. After all, this means that you are not going to get nearly as much money when you make a sale. But instead of looking at this as a bad thing, take a closer gander at the other side of the situation. The quicker that you sell your home the fewer carrying costs you are going to be responsible for. So in the long run, there is a very good chance that things are going to work out in your favor. There are many reasons that you may need to lower your asking price when selling your home by owner. This is not to say that you should jump the gun, but if buyers are turned off, you may want to consider this. But remember, you do not need to greatly lower your asking price. A few thousand dollars may be all that you need in order to attract a larger buyer base. Overall, your asking price has a lot to do with how quick you sell your home as well how many inquiries you receive.
About the Author
James Gunaseelan writes for Mumbai Rental Portal. For Rental Properties in Mumbai(Bombay), India check the link http://www.bharathrentals.com/browse/all/all/Mumbai
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