Don’t Overprice Your Home! It can be tempting to want to overprice your home – especially in today’s crazy Seller’s market, but don’t do it! Most of us think our home is worth more than it really is because we’ve placed value on all of the little projects that we’ve worked so hard on over the time we’ve owned it. Usually though, those repairs and upgrades, don’t really translate to huge increases in value.
When pricing your home, it is important to consider the appraisal. Even if a Buyer agrees to pay a higher price, the home still has to appraise at that value, or the loan will not cover it. This can potentially delay closing and cause unnecessary hassle. The best course of action is to price your home properly in order to get your home sold quickly, for the most amount of money, with the least amount of stress.
Please reach out to us here at the BrennerHill team so we can guide you through the sale of your home from our expert up-front preparation, to our extensive digital marketing campaign that exposes your home online to thousands of people, to contract negotiation, and seeing you safely to closing and then handing over the keys to your new Buyer. We are here to help and look forward to hearing from you!
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Don’t do it. That’s right, don’t overprice your home, even right now in this crazy seller’s market. It makes a difference. Now, here’s the deal. First of all, everyone thinks that their house is worth more than it is. We all think our home is worth more than our neighbors because of the upgrades that we’ve done or the extra lighting feature or whatever that truly no one else really cares about and it really doesn’t add value to your home. But it’s very, very normal to think that way, so don’t worry, our team is here to help. Hi everyone, I’m Sandra Brenner with Steve Hill with the BrennerHill Team at Windermere.
So, how do we price your home? What makes the most sense? How do we do it? Well, we price it like the experts would price your home. And 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. Here’s why this is important, because an appraiser will only appraise a home for what the home is truly worth, and it has to appraise for the contracted purchase price that the home is in escrow for, and anything less than that the buyer will have to come in with the difference. Now, that’s great, as long as the buyer has the cash and is contractually bound to come in with the difference between the appraised value and the purchase price. Now, if this sounds confusing to you, which it probably does, just give us a call and we can go into further details about it. But it makes a big 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, which is great. But as a negotiator, I need to make sure that 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 can actually end up with the price we originally agreed upon, meaning they need to be willing to put their money where their mouth is or where their offer is. They have to have the funds and the means to pay the price they originally agreed upon, even if the home doesn’t appraise. Again, that’s where Steve and I come in. We’ve sold hundreds and hundreds of homes right here in Seattle and throughout King County and Snohomish County, so we understand how to protect you and to make sure that you get what was originally agreed upon and that buyers just aren’t offering an enormous amount for the sale of your home just to solidify the purchase. We make sure they actually have the means to close the purchase.
Please reach out to us here at the BrennerHill Team at Windermere so we can guide you through the sale of your home from our expert up-front preparation to our extensive digital marketing campaign to expose your home online to thousands of people, to contract negotiating, and then seeing you safely to close, and then handing over the keys to your new buyer. We are here to help you and look forward to hearing from you.
We are Steve and Sandra.
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