Nowadays, with the increasing craze of home purchases in Miami coupled with a saturated market of foreclosure deals, sellers must give serious attention to details, niche marketing and competitive pricing when deciding to sale their Miami home. Even if the demand was without the high number of constant foreclosures selling a South Florida home will remain a very crucial work for any motivated home seller. Most consumers, except for the odd few, whether buying a home, car, groceries look for value. As a Miami Realtor many times I run into â€œFor Sale by Ownerâ€ sellers who before using my services usually donâ€™t consider the very important nuances of the selling business and then afterwards suffer huge losses.
If youâ€™re currently selling your Miami home or even considering a slight maybe to sell your home within the next 18 months sellers should begin researching useful and important tips to devise a solid game plan which will surely prove to be valuable in helping to receive the maximum appraised fair market value for your home. As always my first and foremost recommendation will be to hire a professional when taking up a serious matter where the consequences of the outcome could lead to great loss or you are not able to dedicate 110% of the time needed to accomplish the task successfully. As a second alternative if you do not like the exclusive right to sell agency model, you can consider hiring a real estate agent as a consultant throughout the selling process or to help get you started with selling your home. However if you insist on going at it alone here are a few tips mentioned below that will surely help in making a very profitable deal for the seller while they sell their South Florida home.
*As a quick side note these tips will be needed for consideration before signing or declining any important deal you wonâ€™t regret afterwards.
1. Appraisals donâ€™t lie and can put you ahead of the curve. Price your home incorrectly and it could mean a long stay on the market, a final selling price lower than what the house is worth or both. That's why some home sellers are electing to pay $300 to $400 for an appraisal before putting their South Florida home on the market.
Although real estate agents often do their own market analysis to price a propertyâ€”and many times do a decent jobâ€”the appraiser can come in with an independent, unbiased opinion to make sure the price is right.
The greater attention to precise pricing is a change from a couple of years ago, when a house could be listed at a lofty price just to see how much it would fetch. Now you've got to be competitive and you have to know that the offers coming in are reasonable.
Also, if a property spends too much time on the market, the price it will be able to command often de-creases as some buyers will question the reasons for the property's inability to sell.
Through the Eyes of a Buyer
An appraisal will look at the home from a visual standpoint, taking into account considerations from the proximity to schools to cracking or flaking paint.
The appraisal also will analyze the health of the local real estate market, giving homeowners more personalized expectations for selling their homeâ€”a feature especially important with the plethora of national news stories generalizing the real estate market.
Appraisers can also use a cost approach, which will determine the price tag on a new home built to the same specifications of the existing home, The comparison can be helpful for newer houses hitting the market because it lets sellers know what their home is competing with on the new-construction front.
Why an Appraisal before your Home Hits the Market might be Wise
The fresh appraisal will help accurately price the home and ensure it will eventually appraise for your asking price at the time of the sale. Sellers are sometimes shocked when their house appraises below the asking price, which could cause a deal to fall through or for the seller to be forced to reduce the homeâ€™s price.