Home Selling in 45714>Question Details

Jane, Home Seller in 45714

How do I find out what the home I am living in now and going to sell is worth? I am in Ohio moving to Cape Coral.

Asked by Jane, 45714 Sun Feb 19, 2012

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The best way would be to find a local realtor hand have them do a comparative market analysis. This should show several houses that are similar to your house that have sold in the last 6 months in your area. The realtor will then make adjustments to the sale price of each comparable sale to account for differences in your home. Things like a larger garage, different lot size, better condition, square footage, etc. It should have at least 3 homes that have sold. It should also have a similar comparison the at least 3 homes that are currently on the market.

It is no guarantee that the home will sell for the amount the realtor comes up with, but it is the best tool for determining what your home should sell in the current market. It's best to use a local realtor for this because they should know the local market and what neighborhoods are comparable.

I would never trust a price from a realtor who simply looks at your home and tells you the price without doing a comparative market analysis in writing. I also wouldn't trust any online automatically generated values as these are generated by computer modeling that doesn't have the complete information about your house or local market.

This will also help when it comes to selling your home because you can pick the right price and won't waste time marketing the home too high, or give away your home at too low a price. You also have to consider the buyer of your home will likely have to get a mortgage and will have to have the house appraised in a similar manner. If you sell the home at too high a price the home likely will not appraise at or above the sale price and the bank won't give the buyer the loan.
1 vote Thank Flag Link Sun Feb 19, 2012
I would talk to a local real estate agent and have them do a CMA (comparable market analysis) to see what other similar homes in the area have sold for, are currently for sale, and didn't sell.
0 votes Thank Flag Link Sun Feb 19, 2012
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