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Sell Your Home

Selling your home is a process that combines many talents, knowledge and an understanding of the current real estate market.  Many homeowners feel they don't need the services of a professional to get their home sold, and I must agree with them.  If you have a buyer and the buyer can qualify for a loan and you get "your" price then of course you can sell your home without much help.  However, do you really know what your home is worth? Is it possible that you could have realized a larger gain if you had taken the time to find out the true value?  Perhaps you don't need the money and are satisfied with your proceeds.  If so, that is terrific.  But as a long time Realtor who has seen both up and down markets, I have on more than one occasion netted more for a customer than they thought possible.  Trusting your instincts may work for you, but a second and third opinion never hurt. Pricing a home is really a function of the market.  If a home is priced right, it will sell.  Condition, age, style, location are all factors that must be considered.  If a home has all these features and still isn't getting any offers it's usually a function of the time of year (seasonal market), price, excess competition or lack of exposure.

Selling Your Home - Where to Begin

Get a Market Analysis - The first step in the process of selling your home is to establish a price.  Realtors price properties by first doing an analysis of the market, taking into consideration age, location, condition and competition.  The difference between a market analysis and an appraisal is the difference in who does it.  Realtors do market analysis and a licensed appraiser does an appraisal. 

An appraisal is an in-depth study of two valuation methods, competitive pricing and replacement cost. Most homes will be valued by the competitive approach, using sold comparisons from the neighborhood.  If the property is totally unique, having nothing like it in the entire area the replacement cost approach will be used for value.

The valuation method used by a Realtor will consider the amount of competition in the market place.  So it could be said that an appraiser looks at history and the Realtor looks at the future.  Here's where many sellers and Realtors get into trouble.  The eventual sales price will need to be within reach of the past sales history.  The buyer will need to have an appraisal completed to get financing for the home; if the lender cannot justify the value of the loan (as per the appraiser) the loan will not be approved.  Most buyers are not willing nor able to pay the price difference for a low appraisal vs. sales price.

Looking at the sales history in your neighborhood, comparing your home's size, condition and location to the others that have sold is the most reliable method of determining a price that will hold through to a successful closing.

 Click Here to Proceed to Sell Your Home

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Denver, CO 80222
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Last modified: 01/13/04

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