Most home sellers are happy to sell their home at their asking price, especially if they’ve only just put their house on the market. In many ways, a quick sale is worth the sense of relief of having sold it. However, there are ways you can improve your chances of getting even more than you asked for. The following are four tips that you should follow to sell your home at above your asking price.
1. Don’t rush to accept the first bid
You might be tempted to accept the first bid you receive, especially if it’s immediately after you’ve listed it. However, you should hold back. If you got a bid this quickly, then there’s a good chance you will get additional offers. Tell the homebuyer you are looking at other offers as well; once more offers do come in, you can stoke a bidding war.
2. Improve your home’s curb appeal
You won’t want to put too much money into renovating your property or else obtaining an offer over your asking price won’t make much of a difference. However, one area that you should focus on improving is your home’s curb appeal. Putting money into your landscape and into the exterior features of your house will not only attract more homebuyers, but help create a positive first impression on buyers as well.
3. Price your home below its value
The last thing you’ll want to do is sell your home below its value. However, pricing your home below its value is a good way to attract multiple buyers. This, in turn, will allow you to create a bidding war. Once buyers begin bidding against one another, the chance that the offers increase above not only your low asking price but above the home’s actual value as well will increase. Pricing your home at 5 percent to 10 percent below its market value is a good way to approach this tactic.
4. Approach investors
You might be able to create a bidding war by showing the property to investors and by showcasing the property’s potential. If the investor is interested and makes an offer, you can take that offer and use it as leverage against other interested homebuyers in an attempt to stir competition.
If you’re planning on selling your home, then be sure to follow these four tips. Doing so will put you in a much better position to sell your house above your original asking price.
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