Making Sure You Get The Best Price For Your Property

Posted by sellingmyhouse on January 29th, 2013

Selling real estate can be really complicated, becoming more so with factors like you being in a hurry to sell, the buyer being bullish, etc. You may wish that the process were as simple as an auction. An offer is made for the property, the potential buyers make their bids, one person shouts out an amount and no one else bids higher.

He has won the sale, hands down! You hand over the keys to the house and the property papers to whoever made the highest bid. And you are done with selling your house! Unfortunately, matters in real estate are rarely so simple. It need not be the one who is willing to pay the highest who will actually get the property. The owners of houses for sale and their prospective buyers need to go through a lot more before actually signing on the dotted lines. The one who gets the property in the end most often is the one who is best at the art of negotiations.

Negotiations can turn heavily in your favor when you are selling a house or property if there are no pending repairs to be made and if the property passes all inspections. The repairs could be anything from replacing an old appliance with a new eco-friendly model to putting a higher parapet wall around the balcony so that kids are safer around it. Getting an impartial report from a Certified Property Valuer will help you spot and rectify the problems and also bring you a step closer to getting a good real estate inspection report.

These steps will help you to get an upper hand in the negotiations right from the start. At the outset, if you are selling a home privately, first ascertain the correct price for your house or property. DO NOT announce this as the price you are expecting. Bid a price slightly higher than that baseline. Not too high either, so that you don’t push away genuinely interested people. The margin is just to give you a scope for negotiations and save you from avoidable losses. Try your best to not go below the correct price during the negotiations. Do not cave in to pressure from the buyer. If a buyer seems rooted to a price lower than your baseline, do not hesitate in moving on to the next buyer.

Another method that people apply during negotiations is to provide the prospective buyers with a list of all the houses in the neighborhood along with their prices. If feasible, provide a listing of the amenities and rooms in each house too. This will allow the buyer to compare the features of your house for sale in west Australia and its price with similar houses in the same area. It should give the buyer a better understanding of your stance on the property pricing. Remember to maintain cordial relations with all prospective buyers.

Be ready to compromise where you realize that the buyer has a point in his/her favor. Nevertheless, try to stick to the baseline price that the real estate valuer’s report declares as the correct price for your property. That should make it a win-win situation for both you and your buyer. Selling My House provides you with a fast, easy and friendly method to sell your house without the services of realtors.