When you're a buyer looking for real estate near John Fraser Secondary School in Chesapeake, you want to make sure that the price you're paying is reasonable. However, when homes are for sale by owner, or when homeowners don't listen to their realtors, there can often be a large discrepancy between the fair market price of a home and the asking price listed by the owners. In situations where the price of a home is in dispute or in doubt, a valuation can settle the question once and for all.
The problem with homeowners pricing their own houses is that they tend to overestimate the value of their homes. Part of it is that after living in their Scarborough Bluffs homes for many years, they grow attached to the property and the memories it contains. They also become blind to any flaws or issues with the house because they're so used to seeing them. And then part of it is simply due to wishful thinking - they hope they'll be able to get a great price on their home and set the asking amount accordingly.
However, sellers are always looking for a deal and they won't take kindly to homes that are overpriced. You may think that there's no way a buyer can tell just from the listing whether a price is fair, but you're wrong. Simply by comparing the price of your home with similar homes, looking at statistics, talking to their Brantford real estate agents, or even consulting their gut feelings, they can tell when something is wrong with the price of a house. If you're lucky, they'll call you on it rather than ignoring your listing.
Pricing a home at market value, then, is the happy medium in this situation. Both parties can come away thinking they've done well in the deal and that the process was fair and not skewed toward either the owner or the buyer of the Markham real estate. Determining market value, however, can be tricky. Realtors know the market inside and out and can advise you on where to set the price, but many sellers don't want to fork over the 2.5 to 5% of the selling price that the realtor will charge in commission.
If you don't have a realtor to assist you, the easiest way to get a valuation on your home is to hire a real estate appraiser. He or she knows enough statistics and property values for your area and enough about the type of luxury kitchens Toronto residents are looking for that they can advise you about how much a buyer will be willing to pay for your property. You can find appraisers advertised in real estate supplements and in the yellow pages.
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