Pricing a home is critical. The correct pricing will determine how fast or slow you will sell your house. The right pricing is usually a tall order for many people. Many people tend to either overprice their property on sale or underprice them. You should note that this is not a figure that you should just work it in your head. It needs a strategy, careful planning to ensure that you sell your house at the right price and within the time frame desired. This blog explores some of the mistakes that are made when pricing a home.

Unscrupulous agents

One of the most common mistakes that many home sellers make is by listening to the unscrupulous or unskilled agents. Unfortunately, due to the rising fortune in the real estate industry, there are many quacks that are masquerading themselves as real estate agents. Most home sellers would want to sell their homes slightly higher than their neighbors who may have sold a similar property recently.

Do not be mislead by the real estate agents in the market value since they are usually more concerned with the commissions that they will get. Careful go through the listings that they provide you and compare with the other agents. This way you will be able to verify the credibility of the listings that they provide you.

Refinancing appraisal

Refinancing appraisal is one of the ways in which the valuation of the sellers is done. Many vendors would love to hang onto the refinancing appraisals especially in the circumstances and situations that it favors them. As a home seller, you should be careful with the refinancing appraisals and ensure that they are the most recent.

You should also be careful with the refinancing appraisals because they are done in certain circumstances for getting a new mortgage. Most of the financial institutions play this dirty trick so that you may take a mortgage instead which will work to their advantage.

Assessed value

Your house will have an assessed value depending on the city or state in which you are currently living in. The assessed values are usually used as the yardstick when calculating the land interest rates and collecting the taxes in the given community. Many people, therefore rely on this assessed value which might not have a correlation with the current market value. Therefore, ensure that you not only look at the assessed value but the current market value of placing a price on your home.