Frequently Asked Questions

Should I price my house a little on the high side so I can discount it later and create more interest?

No, a house that's priced 10% over the market value is less likely to sell within 30 days than a house priced within 5% of the true value.

What factors influence market value? 

There are several factors such as location, property, condition of the house, comparable properties, market conditions and the economy. 

Why is it necessary to survey a house each time it's sold?

Essentially you are protecting yourself against encroachments, easements and the like. This can happen when a neighbour does something close to your property line such as putting up a fence - it could be on your property which could actually devalue your property. 

Is an owner "take-back" a good way to finance a house purchase?

Yes it can be provided you have the usual standards such as a competitive interest rate, the right to prepay in whole or in part without penalty and so on.

Why is it preferred for us not to be home when showing to potential buyers?

Your broker wants to be in the best negotiating position for you and this is really only accomplished when he's the sole bargainer. If you are present, this may hinder his negotiating style. 

If the appraised value and the sale price of a house are different, which price will mortgage lenders use?

They will use the lowest price (to minimize their risk).

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