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In the process of selling home by owner one of the most important task is appraising the house correctly and fair. Most of sellers underestimate this moment or doesn’t know how to do it in the proper way.

As a rule, sellers overestimate their houses and, as a result, their houses are on the market for many months.
If you do not want to find yourself in such situations, you should take a right decision on just how much you can get for your property after you do some homework. Generally, buyers think that dealing with homes for sale by owner is more profitable and efficient than using realtors’ services. Your task is to show that it is really so. In this case, you’ll sell your property fast and both (you and a buyer) will be happy.

You can use different ways to estimate the price your property and to be sure that your price is competitive in the market of your state. The first idea to do it is to look through the prices for the properties that have been sold for the last 6 months in your local area.

You have to find the houses with the similar characteristics as yours. First of all, potential buyers choose the houses they would like to buy and compare prices for such houses in the region.

The other way to right price is to find out an authorized agency that will make an estimation for you. After the estimation, the agency will issue a certified document that you will be able to show to the potential buyers. Such desk evaluation will cost you about $60.

In case you don’t like the results, you can hire a private licensed appraiser. He will visit your home, accomplish some checks, inspect it, and take photos of the house. A licensed appraiser will charge you from $400 to around $700. He will also issue the special document with the detailed listing of every his inspection.
And the last option to appraise your property – go to a realtor in your area and ask them to do a Comparative Market Analysis Report.

Now, when you have a number of results for analyzing, you may make the final choice and set the asking price. If the market is live and houses are sold in several weeks, you may expect to get the money you are asking for. But if the situation in the market is unfavourable (the market is stagnant), you will be able to sell your property with 10% discount of your asking price.

Also, you should define the price for your property near the peak of its market value when your home is in an excellent state and you should set the price at the low end of the market value if your property needs some repair works. If you follow these tips, you’ll be able to sell your house much quicker and without a realtor.

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