Mistake #1 -- Placing the Wrong Price on Your Property
Every seller obviously wants to get the most money for his or her home. Ironically, the best way to do this is NOT to list your home at an excessively high price! A high listing price will cause some prospective buyers to lose interest before even seeing your property. Also, it may lead other buyers to expect more than what you have to offer. As a result, overpriced properties tend to take a longer time to sell than properties that are priced 'right' to begin with, and they usually end up being sold at a lower price in the end.
Mistake #2 -- Mistaking Re-finance Appraisals for the Market Value
Unfortunately, a re-finance appraisal may have been stated at an untruthfully high price. Often, lenders estimate the value of your property to be higher than it actually is in order to encourage re-financing. The market value of your home could actually be lower. Your best bet is to ask your REALTOR® for the most recent information regarding property sales in your community. This will give you an up-to-date and factually accurate estimate of your property value.
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