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Mortgage Matters - Justifying Your Price

1/16/2012



Ideally, you'd never have to haggle over your selling price. While there's not much you can do to prevent buyers from offering less than you're asking, there are some things you can do to help justify your asking price.

Have a home inspection done before your property goes on the market. A documented, impartial report verifying that your home is in good condition helps substantiate a higher listing price. If the report reveals any defects, disclosing them up front via a seller's inspection helps justify your price given your home's current condition, minimizing opportunities for prospective buyers to negotiate you down.

Many buyers, however, want - and are willing to pay for - homes that are move-in ready. So if you do ensure that any defects revealed by the report get addressed prior to listing and if you take care of all those little fixes you've been putting off - the light switches that don't work, the missing cabinetry hardware, the toilet whose handle you have to jiggle - you can justify a higher asking price.

Making your home move-in ready, so as to substantiate your asking price, also means giving it a fresh coat of paint in a neutral shade, replacing your flooring as needed, again in a neutral tone, and cleaning it until it shines.

If you want to go the extra mile, have your home professionally staged. Staging can help justify your asking price by distinguishing your property from others on the market, and positioning your home more favorably in the minds of prospective buyers by appealing to their emotions and creating an environment in which they can picture themselves living.

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