Interest in our unlisted home - how to determine fair price?
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Anonymous
| I have a work acquaintance who has asked us whether we're interested in selling our house. We have not listed our house or taken any steps in that direction, but we'd been talking about either renovating or selling. How would I go about determining a reasonable price for our house without engaging a real estate broker? Help me out - I'm clearly clueless. |
Anonymous
| Hire an appraiser, look at recent sales of similar homes in your neighborhood. |
Anonymous
| Have a few local RE agents come look at your house and prepare a CMA. |
Anonymous
|
You can hire a realtor for a fixed 1-time price to determine a fair price.
(Just don't sign anything legally obligating you to use them if you choose to eventually sell it.) |
Anonymous
| You need to hire an appraiser. Won't the buyer need a appraisal to get a mortgage? Or are they paying cash. |
Anonymous
| go to Franklymls.com and look at houses for sale in your neighborhood. Click on one of them and then click on 2y/4y (listed on the right with other info) for houses sold within the last 2 years. Those are your comparables. |
Anonymous
| 22:00 I'm sorry but that is not sound advice. Two year old or four year old data on sales prices is totally meaningless. |
Anonymous
OP, use the houses that sold within the last few months. Those pop up, too, when you click on the link. 
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Anonymous
| Hire an appraiser. They are the only ones you can really trust for an unbiased opinion. It is their job to determine the fair market value of properties, make sure you chose one who specializes in your area. The cost is usually $400-$800 however if the person interested in your home is paying cash they may be willing to purchase the appraisal from you. Or, have a realtor that you trust do it for you and give them a nice thank you present for their time. Searching on the public sites (zillow, trulia, etc) is not accurate. |