The Right Selling Price Will Make A Huge Difference in How Much You Actually Receive!
Before selling a condo in London Ontario the price you set is a critical factor in the return you’ll receive and when it sells.
That’s why a professional evaluation from an experienced listing Realtor can provide you with an honest assessment of your condo, based on several factors including:
- Market conditions
- Condition of your unit
- Repairs or improvements
- Time frame
In real estate terms, market value is the price at which a particular condo, in its current condition, will sell within 30 to 45 days.
If the price of your condo is too high, several things could happen:
Limits buyers. Potential buyers may not view your condo, because it would be out of their buying range.
Limits showings. Other salespeople may be less reluctant to view an overpriced condo.
Used as leverage. Other Realtors may use your condo to sell against condos that are better priced.
Extended stay on the market. When a condo is on the market too long, it may be perceived as defective. Buyers may wonder, “what’s wrong,” or “why hasn’t this sold?”
Lower price. An overpriced condo still on the market beyond the average selling time, could lead a lower selling price. To sell it, you will have to reduce the price, sometimes, several times. In the end, you’ll probably get less than if it had been properly priced at the start.
Wasted time and energy. A bank appraisal is most often required to finance a condo and if the buyer's mortgage company will not appraise the property at that higher price, they cannot get the financing!
Realtors have known it for years – Well-kept homes, properly priced in the beginning always get you the fast sale for the best price! And that’s why a professional real estate lister, will tell you the truth, explain the facts of selling a house and then guide you in the selling of your home!