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These 5 things determine the selling price of the house

This article explain about 5 things determine the selling price of the house. Determine price of a house or property is not easy. There are many considerations that must be considered carefully. The price of the house is one thing you need to consider.

Determining the price of the house also needs to be considered, don’t let it harm you. But do not be too far from the market price. There are several factors that can be taken into consideration when determining the selling price.

The following are several factors that can affect the selling price of a house quoted from watermarkoldtown

How To Determine The Selling Price Of The House : Know ’99’ Strategy in Real Estate World’s

In the world of real estate sales, the “99” strategy is almost always used. For example, if a seller priced their home at $499K instead of $500K, the $1K they lost would cover some of the buyer’s closing costs, but in the buyer’s mind, they paid $500K. However, in most cases, earning $1K to bring the price below the round number doesn’t make much difference to the buyer or seller.

However, there are many psychological strategies used in determine the selling price of the house.

If you are a home seller, there are several important things that you must know in determining the selling price of a house. You and your real estate agent must first identify the approximate value of the property. Let’s say you determine your home is worth around $500K, based on a comparison of similar properties for sale in your neighborhood and other market considerations.

The next step is to understand the price range for the price list. In this case, between $480K and $520K, depending on market conditions, competitor properties, time of year, or inventory. The price range is usually slightly higher with more expensive properties; a home worth about $1 million may have a range of $950K to $1.05 million.

Once you know the value of your home and consider its price range. This is the time to determine the final selling price of the house.

5 Mandatory Things To Do Before Determine The Selling Price Of A House

Below we will explain about the important factors in determine the selling price of a house. Find some important tips on how to price your home below. So you can get the best value when your home hits the market.

1. Physical condition

The physical condition of the house is one of the factors that influence the determine of the selling price of the house, because of course everyone does not want to live in a building that wants to collapse, right? For that, if you happen to want to sell your house, you should renovate the house first so that it looks good, both in terms of physical condition, water and electricity.

2. Completeness of the letter

Legality issues are certainly the most important thing when you buy a house, so when you sell a house as much as possible to complete all securities such as IMB, Sale and Purchase Deed (AJB) and Certificates of Ownership. Because, if you don’t complete it, the selling price of your house will go down.

3. Have Good Accessibility

Accessibility means being easily reached from various locations, especially from the city center. Then the more strategic the location of the house to be sold, the more expensive the price that can be offered.

4. Near Transportation Facilities

The existence of public transportation is one of the determining factors for the value of a house, because this can make it easier for someone to travel. So if the house is close to public transportation facilities such as busway stops, bus terminals, train stations, it will increase the selling value of the house.

5. Located in a Densely Populated Area

Lucky for those of you who live in densely populated areas, because the tendency for house prices in these areas will continue to rise. Densely populated areas usually have higher economic and development activities than less populated areas. So the more developed the area, the more expensive the price of the house being sold.