Don’t do it…..Don’t do it. That’s right, don’t overprice your home, even right now in this crazy made seller’s market. It makes a difference.
Now here’s the deal. First of all, everyone always thinks their house is worth more than it is. SHHHH….. Don’t tell anyone but even I even do when selling my own home. It’s impossible not to, I mean I raised my children there and all their friends were over and blah blah blah, you get my point. We all think our home is worth more than our neighbors because of the upgrades that we did or extra lighting features or whatever that truly really no one else cares about and it doesn’t add to the value of our home. But It’s very, very normal to think that, so don’t worry.
Avoid Overpricing Your Home
So how do we price our home, what makes the most sense? How do we do it? Well, we sell it like the experts would price your home. Who are the experts? The appraisers. Did you know that when you sell your home and the buyer has a loan on the property, it has to appraise? Appraisers have certain standards and guidelines that they have to follow when appraising a home.
It’s Important That You Don’t Overprice Your Home
Here’s why it’s important, an appraiser will only appraise a home for what it is truly worth, and it has to appraise for the purchase price that the home is in escrow. Anything additional and the borrower will have to come in with the difference. Now that’s great, as long as the buyer has the cash to come in with the difference between the appraised value and the purchase price. If this seems confusing to you, which it probably is because it may seem like I’m speaking another language, just give me a call and I can go into further details.
This makes a difference and it’s a very important factor to consider. Right now with the market being so crazy and in the sellers’ favor, we are seeing multiple offers, bidding wars, and the final sales price is getting bid up and up and up. This is great, but as a negotiator, I need to make sure we choose the right offer, not just the highest offer. The highest offer is good, but only if they agree to certain terms and conditions to ensure that we actually end up with the price we originally agreed upon. Meaning, that they need to be willing to put their money where their mouth or offer is, they have to have the funds and the means to pay the price they originally agreed upon, even if the home does not appraise.
How I Can Help, So You Don’t Overprice Your Home
This is where my team and I come into play, we’ve sold hundreds of homes right here in Centralia, WA 98531, and Chehalis, WA 98532. We know how to protect you and make sure you get what was originally agreed upon and that buyers aren’t just offering an enormous amount for the sale of your home to solidify the purchase. We make sure they actually have the means to close on the purchase.
Again, my name is Eren Millam, and please reach out to us here at Premiere Property Group so we can guide you through your sale. From when the sign goes up on your lawn, to exposing your home to thousands of people, all the way until we hand over the keys to the new buyer and help place you into your new home. We are here to help you, looking forward to hearing from you and as always, make it an extraordinary day!
For more tips about selling your home, check out my free virtual seminar!