If you are a seller who needs to close a sale as quickly as possible, then getting the highest price possible is normally not one of your priorities. However, it does not mean that you will not, or cannot get the highest price.
A buyer who can give you a quick closing time is normally more appealing than a buyer who can offer more money.
It's always good to know your lowest selling price. You should consider all offers seriously and take into consideration the terms of each offer, but knowing your lowest sale price can save time.
Finding the Right Agent
Not all realtors work the same way. The most important attributes of a realtor include honesty, assertiveness, and understanding the needs of their client.
You want a realtor that is well connected to the real estate industry.
Your realtor should know the market and provide information on past sales, current listings, his or her marketing plan, and solid references.
If possible, go with a local realtor. They are familiar with what the local market condition is, what the local prices are, and what's trending in your community.
Setting the Price
The price is the first thing buyers notice about your property. If you set your price too high, then the chance of alienating a buyer is higher. Understand and set your price to reflect the current market situation.
You want your house to be taken seriously, and the asking price reflects how serious you are about selling your home.
Try to find out what types of houses are selling and see if it applies to your area. Buyers follow trends, and these trends can help you set your price.
Several factors will contribute to your final decision. First, you should compare your house to others that are in the market. If you use an agent, he/she will provide you with a Comparison Market Analysis (CMA).
From the CMA, you will find out the difference between the asking price and selling price for all homes sold, the condition of the market, and other houses comparable to yours.
When reading an offer, keep in mind that you are out to get the best price AND the best terms for you. If you focus solely on the price, you may overlook terms that could be favorable to you as a buyer.
Some terms such as a higher-than-market-interest in a second mortgage for your home, a quick close, an all-cash deal, or the buyer taking care of any repairs, may work in your favor.
When reading through offers, remember to look at the whole package. Take the time you need to assess what is being offered, and if it meets your needs.
Insist on a Home Inspection
A professional home inspection protects both you and the buyer. It allows both you and the buyer the opportunity to learn about the property defects, and establishes the actual condition of the property at the time of sale.
A home inspection usually covers the plumbing condition, roofing condition, electrical condition, and structural problems.