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| Pricing
your home to sell quickly using objective logic, optimising
cash equity from the sale of your property... |
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Golding Fractional Ownership is launching spectacular
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Estates: Popular by design, have always provided a more
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PRICING YOUR HOME TO SELL |
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IN
THIS ISSUE:
1. A Statistical Approach To
Pricing Your Property
2. Emotional vs. Logic
3. Get Prepared For The Questions
an Interested Buyer May Ask
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|
A
STATISTICAL APPROACH TO PRICING YOUR
PROPERTY
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When
you decide to sell, you want it done
as soon and as painlessly as possible.
At the same time, you want to receive
as much cash equity from the sale
of your property as you think it’s
worth. Improvements include upgraded
landscaping, more trees, shrubbery
and flowers, a sprinkler system, fence
and a unique mailbox up front, and
maybe even a pool.
Now
that you’ve itemised all of
your improvements, you’re thinking,
“How much is a new home like
mine selling for now on the current
market? Well, I’ll take what
I paid and add in all of the above
improvements, include appreciation
for each year and that’s what
I’ll ask for my price.”
Unfortunately,
pricing your property in this manner
may give it an inflated value. Your
property that you’re so proud
of and which is worth so much to you,
may just sit with a “For Sale”
sign for a long period of time, with
a lot of lookers but no buyers. |
 |
Then,
by the time seven or eight months
go by, you realise that your
price is too high and drop it
accordingly.
By
now, the buyers that may have
been interested have bought
elsewhere; the agents stop bringing
prospects; it has been on the
market so long it has lost its
appeal - there must be something
wrong with it for it not to
have sold by now.
EMOTIONAL
VS. LOGIC
You
get to the point where
you’re going to
have to price it for less
than it should sell for
just to move it and get
on with your life at your
new location. Logical
thinking as opposed to
emotional thinking can
eliminate all this.
Logical thoughts
include:
|
| 1) |
Check
out the properties presently
on the market in your
area that you’re
going to compete with
for sale, and their price.
|
| 2) |
Check
the price of properties
comparable to yours that
sold within the last six
months and determine how
long they were on the
market. |
| 3) |
Remember,
you may not have been
enjoying the appreciation
rate you expected over
the entire period that
you’ve owned the
property. |
| Appraisers
and agents when arriving
at a fair market value
price for your home use
this logical, statistical
approach. Your agent should
prepare the Competitive
Market Analysis (CMA)
using this approach. In
doing so, you’ll
receive a professional
estimate of value to help
price your property in
a sale range that will
best meet your overall
objectives. |
 |
GET
PREPARED FOR THE QUESTIONS
A BUYER MAY ASK:
It is important to gather
information pertinent
to your property. It will
take time to coordinate
this information from
old bills, tax statements,
work receipts, service
contracts and warranty
documents, but it pays
off when you sell your
home. Prospective buyers
will ask questions about
your home and property.
The following
questions can be expected:
|
| • |
What
do you pay in property
rates and when are they
due? |
| • |
How
much does it cost to heat
and cool your home? |
| • |
What
do you pay for gas / electricity? |
| • |
What
do you pay for water and
who supplies it? |
| • |
How
old are various structural
components and systems,
including the roof, water
heater, furnace, and plumbing
system? |
| • |
How
old are any appliances
that will stay with the
house? |
| • |
Do
you have any guarantees
or warranties on appliances
or components of the home,
such as siding or roofing,
and are these warranties
transferable? |
| • |
Have
you had water problems
in the basement or through
the roof? (If so, you
must show the buyer that
you have rectified the
problem.) Do you have
warranties or guarantees
on the work? |
| • |
Where
are the local schools,
and what is their quality? |
| • |
Where
are the places of worship
in the area? |
| • |
It
is helpful if the seller
provides a copy of their
original title or abstract
to the listing agent and
title provider. This assists
in identifying ownership
in the property and can
expedite a title search.
|
| • |
Is
a copy of the survey and
floor plan available? |
| • |
Are
there any special assessments?
If so, what are the special
assessments and when are
they due? |
| • |
Are
the current property rates
for “land”
only, due to the house
being newly constructed?
What are estimated new
tax amounts, including
the house? |
| • |
If
the property is being
sold as an investment
property, provide a copy
of the tenant’s
lease (if applicable). |
| • |
What
services are available
for communications? ADSL,
satellite? Is the house
wired for ADSL access
to the Internet? |
| • |
Do
you have a well or septic
system? Can you provide
information about the
inspector and the last
inspection completed? |
| • |
Are
there any parking permissions
or restrictions? |
| • |
Are
there any storage restrictions?
Examples: Boat or RV must
be stored in garage. No
sheds over a certain size. |
| • |
Are
pets allowed? |
| |
|
|
|
If
you are thinking of selling your
home, speak to one of our professional
agents.
Find
you local Pam Golding Properties
agent here
|
RESIDENTIAL
LIFESTYLE PROPERTIES FOR SALE IN SOUTH
AFRICA:
The Properties
For Sale in South Africa: |
| Click
through to the below areas to view
some fabulous opportunities on offer. |
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INVESTORS
NOTICE BOARD
APRIL 08 |
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| PROPERTY
BUYERS WILL ONLY PAY REALISTIC,
MARKET RELATED PRICES,
SAYS PGP |
|
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| With
much dinner table debate
still centred around what's
happening in the property
market one thing is clearly
evident – that currently
it's a tougher market
environment and even more
competitive than before
from an agency perspective,
says Dr Andrew Golding
CE of the Pam Golding
Property group. |
| ...Read
More |
|
|
| HOMES
UNDER R350 000 STILL AVAILABLE
IN THE KAROO |
|
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| Graced
with an array of scenic,
historic towns, each with
its own unique character
and located in diverse
settings across several
regions, the Karoo... |
| ...Read
On |
|
|
| HIGHEST
POINT IN BLOUBERG ON THE
MARKET |
|
 |
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| A
penthouse apartment of
ambassadorial proportions
has come onto the market
in Blouberg, exclusively
through Pam Golding Properties.
The 400sqm unit... |
| ...Read
On |
|
|
| PGP
INVESTS R30 MILLION IN AGENT
TRAINING IN NEXT THREE YEARS |
|
 |
|
| Over
the next three years alone the
Pam Golding Property (PGP) group
will invest in excess of R30
million in training all its
agents not only to ensure… |
| ...Read
On |
|
|
| "LA
RESIDENCE" MAKES ITS MARKET
DEBUT WITH R150-MILLION OFF-PLAN
SALES |
|
 |
|
| Real
estate group Pam Golding Properties
has officially brought to the
market the keenly-anticipated,
luxurious, 18-floor residential
component of La Residence -
a R1,6-billion prestige development
in the heart of Sandton, the
commercial and financial epicentre
of South Africa. |
| ...Read
On
|
|
| GONDWANA
GAME RESERVE ALMOST SOLD OUT |
|
 |
|
| With
almost all available stands
sold out at the Gondwana Game
Reserve – a Big Five private
reserve just 25 minutes from
Mossel Bay on the Garden Route
– the developer has just
released the final six full
title stands for purchase… |
| ...Read
More |
|
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|
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| BUYERS
SNAPPING UP HOMES IN NEW KALAHARI
DEVELOPMENT |
|
 |
|
| The
relaxed and secure ambience
of the Northern Cape platteland,
combined with the striking scenery
along the banks of the Orange
River have seen an overwhelming
response to a new residential
development, Belle Rio… |
| ...Read
On |
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Our
unique showday mapping facility is now
available to assist you in preparation
for your weekend showhouse quest. |
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Pam
Golding Properties Office Network:
Contact a Pam Golding Properties Agent in your
area.
...Click
here |
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| Pam
Golding Properties Head Office: Monterey, 12-14 Klaassens
Road, Bishopscourt, Cape Town, 7708. www.pamgolding.co.za |
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