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FSBO Tip 16. How to determine the fair market price of your home.

 

This is one article in a series of over 30 articles that will help you when selling your home privately in Ontario. When using these simple FSBO (For Sale by Owner) techniques that I have outlined below, these tips will help you sell your home without the assistance of a real estate agent. Just as many other people have successfully sold their home on their own in the past, you can too. It will possibly save you thousands, but it takes a great deal of work and firm commitment on your part to succeed in selling your home privately in Ontario. You may ask why I would provide such a series of indepth articles. The reason is simple. I want you to have all the information to make the best decision for yourself. You may sell privately, but need an agent to help you buy your next home, I hope you remember how helpful I was in helping you sell and use my services for your purchase. I wish you all the best of success.

This always seems to be a real tricky one. For many home sellers this typically reveals itself as a major point of contention. When trying to decide on a price guessing or basing your asking price on hearsay or nontraditional methods immediately reduces your negotiating advantage.

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Basing your price on what the house down the street sold for or what media outlets perceives as increased market value is not the way to get a legitimate price either. There are only two legitimate and well-recognized ways of determining a fair market value. One way is to contact a real estate agent or broker to provide you with a CMA otherwise known as a comparative market analysis. The best and most accurate way of determining price comes from a full-blown appraisal done by a professional real estate appraiser.

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This series of articles is brought to you by A. Mark Argentino and other real estate related resources, including Canadian Real Estate Association CREA and the Ontario Real Estate Association OREA.

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Whether you are interested in a Power of Sale Property, a Foreclosure Sale or a regular property purchase, I can assist you with all of the complexities when you purchase or sell your next property.  Please don't hesitate to email me

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