Establishing a Market Value
Market value is based on what others have been prepared to pay for a similar property, under the same market conditions after reasonable marketing exposure. Market value is a fair price for both buyer and seller. It is what is called an "arms length" deal, and that means that there were no influences other than the market influencing the deal. You may of course pay more than established market value if your desire for the property warrants it. Conversely, you should not expect to pay less than established market value unless the property is being sold under duress.
Qualifying For Your Mortgage
Once you've made up your mind to buy a home, the first question that comes to mind is, "How much can I afford?" The financial aspects of buying a home do not need to be confusing. Your Royal LePage salesperson can arrange to have you pre-qualified for a loan before you start shopping. Most lending institutions will only allow approximately 30% of a person's income to support a mortgage. They will usually not allow more than approximately 40% of income to support a mortgage together with other debts. The amount of money you qualify for, plus the amount of cash you can put down, will equal the amount you can afford to spend on a home.
You've Decided to Sell Your Home!
Selling a home can be a confusing and complicated process. Selecting a salesperson and deciding on a price will be two key decisions. The cost of selling a home is also an important consideration. You should also consider the marketing of your home. To get the best possible price a home has to be exposed to as many buyers as is possible. Marketing is more than simply putting the home on the Multiple Listing Service. It's identifying who the buyer might be and what features and accompanying benefits will attract that buyer. How will the buyer be reached, and what will be the likely circumstances?
You Need a Plan
To achieve these objectives you need a plan. At Royal LePage we give attention to these details. We are equipped with training, skills and tools that allow us to provide excellence in service. What's more, we commit our marketing plan to paper. Our listing action file:
• Provides constant feedback.
- Keeps you up-dated on market trends.
- Keeps you informed on the actions we take.
- Selling a home should leave nothing to chance!
The Benefits of Using a Sales Associate
Selling a home takes more than an ad in the paper, and a "for sale" sign on the lot. Firstly, it takes experience and training to correctly price a home to sell. It requires a carefully prepared market analysis showing not only homes that have sold, but also competing homes that are still on the market and homes that were on the market and never sold.
Anticipating and Solving Problems
Secondly, you need to anticipate and solve the many problems than can arise during the selling process. Very frequently buyers have to sell their own home in order to buy yours. It is sometimes difficult to keep control in these circumstances. Usually it doesn't cost a buyer anything upfront to work with a Sales Associate. Someone may be looking to buy a home at a lower price because they know you are saving the brokerage fee.
The Next Step
Please fillout the form below to the best of your ability. The more information you can provide will help in determining your home's current market value.
Please Note: All information submitted will be held confidential.
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