Closing Price
*Calculation based on a 95% savings at an average comission rate of 5%

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Setting an Appropriate Price for Your Home

After you have completed a thorough comparison of homes sold and currently on the market in your area and have a clear picture of how they compare with your home, you are ready to set an appropriate price. There are five essential steps to pricing your home:

Step 1: Consider the current property market: If it is a buyer's market, then don't set your home price above the other properties on the market. If it is a seller's market, you could consider pricing your home a bit above the price of other comparable properties.

Step 2: Look at how long most houses for sale in your area were on the market before they sold. Properties that have been on the market for longer than others may be priced too high. You can call local estate agents and enquire how long properties have been on the market. This information is also available on some estate agent's web sites.

Step 3:. Decide how quickly you want, or need, to sell your home. If you want a quick sale, you might have to price your home lower than comparable properties. There is a direct relation between the price of a property and the time it takes to sell.

Step 4: Take note of your home's special features (a pool or a great view) as well as its shortcomings (lack of parking) and note the influence of these elements on your price.

Step 5: Set your price as a result of your research and property comparisons in your area. Be guided by these factors, not by how much you feel your home is worth.

If you are not in a rush to sell your home, you can test the property market by pricing it a bit higher than other comparable properties in your area.