It is the most common question asked by homeowners: How much should you ask for your home? The answer to that question depends on various factors, which we cover below.
One of the main factors is how you plan to sell your house. Will you hire a realtor, attempt a For Sale by Owner, or sell your house as-is for cash to a house-buying company in Louisville, Kentucky? Once you decide how to sell your house, you can go through a list of criteria to determine the final asking price for your house.
Below we explore several ways to calculate how much you should ask for your house.
Schedule a House Appraisal
A home appraisal is an unbiased professional assessment of your property’s current resale value. A real estate agent hires an objective third party to assess your property based on factors such as
- The house’s condition
- The house’s locations
- The house’s features
An appraiser performs a comprehensive analysis to determine a fair asking price for your house and then makes recommendations to you and the real estate agent. An appraisal is the fastest and most reliable way to choose the final asking price.
Schedule a Home Inspection
A home inspection is not the same as a home appraisal. The purpose of an appraisal is to determine the property’s fair market value. An inspection determines the home’s condition and identifies any items needing repair. An inspector looks at the overall condition of several items, such as
- Framework and supporting structure
- Plumbing and electrical systems
- HVAC system
- Roofing system
The inspector ensures that all components meet local building codes and that the house is safe. You may need to adjust the asking price to cover your selling costs if you have to make major home repairs.
What Is the Overall Condition of Your House?
One of the things that potential buyers consider is the overall condition of the house. For instance, are you trying to sell a damaged, vacant, or old house? If so, you’ll have difficulty competing with move-in-ready houses in your area.
You can overcome the stigma of a less-than-ideal house by repairing and renovating. You can also spend a little extra staging the house. However, the age and condition of your house will affect the asking price. Instead of spending money on repairs, you may come out better if you sell your house as-is for cash to a local home buyer in Louisville, Kentucky.
Consider the Louisville, Kentucky, Real Estate Market
Something incredibly difficult to overcome is the real estate market in your area. You’ll need to price your house based on comparable properties around your neighborhood.
One way to do this is to perform a real estate market analysis. An analysis is a process of evaluating your property based on the market value of comparable properties – homes similar to yours in size, age, condition, and amenities.
Take a sampling of three to five homes for sale in your market. Explore the details of the homes and their current market value. Make sure you consider all factors to ensure the homes are comparable. It will give you a good idea of what you can ask for your home. Real estate agents and local home buyers in Louisville, Kentucky, often perform an analysis to determine a fair asking price for the house.
Try Selling Your House As-Is for Cash
If you need to sell your house fast and do not have time for a traditional home sale, consider selling your house as-is for cash to a company that buys houses in Louisville, Kentucky.
A local buyer can assess your home’s market value and make a cash offer. If you accept the offer, you agree to the sale terms and conditions and sign the paperwork to transfer ownership. You don’t need a realtor to seal the deal. Plus, you avoid home repairs and closing costs.
You may have to ask less for your house than you would in a traditional home sale. However, you also avoid any selling costs. So you could come out ahead. Plus, you work directly with a pre-qualified, reliable home buyer.
Get a Fair Cash Offer from We Buy Real Estate
Skip the realtor and the hassle of a traditional home sale by selling your house to We Buy Real Estate. We buy houses as-is and pay cash. We’ll give you a fair offer for your house. Call 502-458-2722 to get a guaranteed offer.