Asking Price vs. Selling Price

The sellers asking price is often an estimation of the market value for the property. The actual selling price will better reflect its true market price. In order to facilitate a sale the sellers asking price should be close the market price.

High Asking Price

If the asking price is too high buyers may hesitate to even make offers on the home. A high asking price may place the property just outside the maximum price level of buyers looking for similar properties. And those shopping in that higher price range may see that the home does not warrant such a high price. Especially in comparison to others in that price range

If you are getting much less action than you feel your property should, then your price is probably too high. This may also be reflected in any offers you do receive. If more than one offer comes in at well below your asking price then it is likely a reflection of it true price. Not simply someone throwing in a lowball offer. Consider lowering your asking price if you think it may be hindering a sale.

Low Asking Price

A low asking price set below market value will often stir a lot more action from buyers. In a very hot market this could spark a bidding war. With a bidding war the final selling price will be higher versus the asking price. But in a slower market this may not occur.

Refinance Before Rates Go Higher. Mortgage rates are climbing again.

Lock in a lower rate at CompareLenders.com

In slow real estate market conditions a low price may be necessary to attract a buyer. But be careful not to set the asking price too low. Otherwise you could miss out on the rest of the money your property deserves.

The Selling Price

The selling price will be at the level where both parties, the buyer and the seller, agree to make a deal. This sale price may, or may not, be at the asking price, but it will be very close to the market price. For this reason, recent real estate sales will reflect current market conditions. Use information on recent comparable sales to help in determining an asking price that reflects the market value of the property.

Most Viewed Articles

Appraisal Value vs. Asking Price

Making Real Estate Offer's

Realtor vs. Private Sale

Asking Price vs. Selling Price

Home Buying Tips

Home Selling Tips

Negotiating a Deal with a Buyer

Real Estate Directory > Appraisals | Guides and Information

Resources | Site Map