Ready to sell? Now the tough part, understanding how to determine home values in Lynchburg VA. Sellers often get caught up in memories that were created in their home and attach an emotional value to the property. That can make the determination of the value an extremely difficult process and also result in the home being over priced when compared to other properties on the market.
With an understanding of how professionals value property, you can save yourself from falling into this trap. While it may be difficult because you love your home, real estate is a business and it all comes down to the numbers and home values in Lynchburg are always changing.
CMA
Setting the right price for your property is essential. If you price the property too high, it may not sell, and if you price it too low, you may not get the best possible price. You should work with a real estate agent who can provide you with a comparative market analysis to help you determine the right price.
A comparative market analysis commonly known as a CMA helps professionals to determine home values in Lynchburg VA. CMA stands for “Comparative Market Analysis.” It’s a report that real estate agents prepare to help sellers determine a realistic listing price for their property.
The report includes information about similar homes in the same area that have recently sold, as well as homes that are currently on the market. By looking at this information, the agent can provide the seller with an estimate of what their home is worth in the current market.
The CMA takes into account factors such as the size of the property, the number of bedrooms and bathrooms, the age of the home, and any special features or upgrades. This information helps the agent to compare the property to others in the area and determine a fair market value.
The CMA is an important tool for both sellers and buyers. For sellers, it helps them price their home appropriately to attract buyers and sell quickly. For buyers, it provides them with valuable information about the local market and helps them make informed decisions about the properties they are interested in.
It would be wise no matter which way you decide to sell your home, to have your own CMA performed. Then you’ll be aware of the value of your home, based on the current actual market value. By doing so, you can avoid being shocked or insulted at what you may feel is an insultingly low offer from a buyer.
If you would like to have a CMA of your Lynchburg VA home please call us at 434-390-2906 to schedule a time.
Repair Costs
To maximize the value of your property, you need to prepare it for sale. This includes making any necessary repairs, cleaning the property thoroughly, and ensuring that it is in good condition. It’s also a good idea to stage the property to make it look more attractive to potential buyers.
Being forewarned is being forearmed and never is this more true than when you’re selling your home. It would be wise to order an inspection of the property to help determine your homes value in Lynchburg VA. If you find something is seriously wrong with the property, you may want to fix it, or make other smaller repairs out of pocket before putting the home on the market.
It’s wise to contact professionals for at least two estimates of repairs, if you’re planning to do them yourself, create a realistic budget. With reliable data in your hands regarding the project timeline and expenditures, you can make an informed decision.
You’ll have to determine if you want to go ahead and invest more in the home and make the repairs in order to reap a larger profit or sell the property “as-is,” deducting this expense from the asking price will give you a realistic current market value.
If you don’t want to worry about repairing or cleaning up your property. We’ll buy your house in as-is condition… no matter how ugly or pretty it is… no matter the location. You don’t have to Clean, paint, or fix a thing. Give us a call or text anytime 434-390-2906 or fill out the short form here today!
Commissions
When you set out to determine home values in Lynchburg VA, in addition to your marketing costs, should you choose to work with an agent there will also be commissions. The commission is based on a percentage of the sale price. As there are two sides in a real estate transaction, the typical commission is near 3% per side, so a home selling for $400,000, would deduct $24,000 from your profits alone, along with the traditional seller’s closing fees. It’s also possible that the closing agent and the real estate agent’s office could charge transaction fees.
If you accept a cash offer from Linken Investments, we don’t charge commissions, and we pay all closing costs. Think of all the time and money that can save you. There’s no easier or quicker way to sell your property and get on with the next chapter in your life. Call 434-390-2906
Linken Investments, Lynchburg’s Trusted Home Buyer and Seller
Why not let us assist you in determining the value of your home with no obligation?
We set out to solve the problems that Lynchburg area home sellers face by giving you a way to see all of your options in one spot, letting you choose whether you want to maximize the price of your sale by listing on the Lynchburg MLS or whether selling fast and simply for cash is more important.
So rather than just telling you what you can list your house for on the market like traditional Lynchburg real estate agents, or making a “take it or leave it” offer like many real estate investors, at Linken Investments we’ll give you both a cash offer and the option to maximize the value on the market (with our cash offer in your back pocket).
We’ll quote you a fair price, and we can close fast with cash or We can list your house on the MLS and possibly get you a higher price. Call or Text 434-390-2906 to learn more.