What is the best way to price my house?
Posted on 8th November 2022
There is no one definitive answer to the question of how to price your house.
It depends on a variety of factors, including what you hope to achieve by selling your property.
Are you looking for a quick sale at a good price? Or are you happy to wait while you find the right buyer who is willing to pay your asking price?
In this blog post, we'll look at some of the different ways that houses can be priced - and what each option might mean for you as a seller.
Offers in excess
If you're hoping to achieve a higher price for your property, then you could consider pricing it as 'offers in excess'.
This means that buyers need to make an offer that is above a certain price, which is again set by you as the seller.
By setting a high starting price, you are more likely to find buyers who are willing to pay closer to your asking price.
However, it's also worth bearing in mind that you may end up waiting longer to sell your property if you take this approach.
If you're confident that your property is worth a certain amount, then you can simply list it at an 'asking price'.
This means that buyers will need to make an offer at or above the price that you have set.
You are more likely to achieve your asking price if you market your property well and attract buyers who are willing to pay what you are asking.
However, there is also a risk that you could end up selling your property for less than it is worth if you do not receive any offers or if the market conditions are not favourable.
Another option that you might consider is pricing your property at a 'guide price'.
This is typically used when a property is being sold at auction.
A guide price is set by the auction house and is intended to give potential buyers an indication of the level of interest that there is in the property.
It is important to note that a guide price is not a reserve price, which is the minimum amount that the seller is willing to accept.
Offers in the region of
If you're not sure how to price your property, then you could list it as 'offers in the region of'.
This means that buyers can make an offer at any price that they feel is fair. You may find that you receive a range of different offers, which can be helpful if you're not sure what price to set.
However, it's also worth bearing in mind that you could end up selling your property for less than it is worth if you're not careful.
Pricing your house is an important decision and there is no one right answer. It depends on your individual circumstances and what you hope to achieve by selling your property.
By considering all of the options, you can make sure that you choose the best approach for you.
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Tagged as: Thinking about selling?
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