If you are a first-time seller considering moving up into a bigger home, it is important to price your home correctly, now more than ever before.
Hi, my name is Lynea Carver and I am with Choice Gallery Homes. When moving up, which means you are selling your first home and buying your second home at the same time, and you're using the equity from your first home to make the down payment for that second home, it is crucial that you price it right the first time.
If your home is overpriced and you're in a contract at an inflated value that an appraiser cannot justify, it could delay the process and you may lose out on the home that you're trying to buy. Appraisers use the same data that real estate agents use when determining comps. We look at similarly sized homes in close proximity that were previously sold within the last six months. Most buyers in a first-time home buying situation don't have enough cash saved up to pay more than an appraised price, and to be quite honest, it might not be a good investment for them if they do. Avoiding the situation altogether, with a good conservative market analysis is the best way to make sure that you don't overprice your home and don't underprice your home. Both come with downfalls and I'll talk about that next time.
For more information about selling your home, or to get started go to lyneacarver.com. Whether you're buying a home or selling a home it all starts with a dream. Let's dream together!