Kathy Henne: Three Possible Prices

There are many factors that affect how you’ll price your home when you’re ready to sell. In spite of market conditions, interest rates, and so on, every transaction is unique. So you should seek the assistance of a great local real estate agent and prepare yourself and your home for the day you place the For Sale sign in your yard.

Sometimes a home will have three different possible prices: the price the sellers want to net, the price the buyers would like to offer, and the final sales price agreed upon by both parties. Your home’s ultimate value is determined by other local sales prices, which are always a product of supply and demand.

The asking price or the offered price are not the whole story, however. While an offer of $100,000 doesn’t seem to appear as good as an offer of $102,000, pay close attention to the terms attached to that higher offer. If the buyers with the $102,000 offer want the seller to pay $3,500 for their closing costs, the “clean” offer of $100,000 will actually put more money in the seller’s pocket.

It’s always wise to seek representation and assistance with pricing, marketing, negotiation and closing. Put a great real estate agent with local experience to work for you. Once armed with the knowledge relating to terms and conditions of the local market, you’ll have the confidence you need to move forward.