Determining Market Value
Home buyers will determine the market value of a home based on their analysis of what comparable homes have sold for in your neighbourhood.
This process will be facilitated by their real estate sales representative who will conduct a market analysis of a neighbourhood using historical data (e.g., TRREB)
The value of a home will be largely determined by this comparative process. Comparative Market Analysis is the most effective method by which to determine what potential buyers will be willing to pay for a home.
Elements of Pricing Include
- Understanding the buying process
By the time a typical buyer is ready to make an offer, they will have seen all of the existing properties for sale in your neighbourhood. - Comparative market analysis
A comparative market analysis is a comprehensive computerized market analysis of homes that can be considered similar to yours, or competitive in your neighbourhood. - Macro and micro factors affecting the price
What you need to take into account before you even think about putting a price tag on your house. - Consequences of overpricing your home
Why shouldn’t you overprice your house? Because if you do, everyone will know and potential buyers will be reduced. - Documents You Will Need to Sell Your Home
There are seven documents you will need to prepare to sell your home. Find out what they are.
A nearby park is the kind of thing which can substantially increase the value of your house
