The Right House Price in Portugal by the Living Portugal Property Group
The Right Selling Price Affects Your Bottom Line
When you’re selling your house in Portugal, the price you set is a critical factor in the return you’ll receive. That’s why you need a professional evaluation from an experienced realtor. This person can provide you with an honest assessment of your home, based on several factors, including:
Market conditions | Condition of your home | Repairs or improvements | Selling time frame
In real estate terms, market value is the price at which a particular house, in its current condition, should sell within 30 to 90 days. In more difficult times however these times can be between six months and one year.
If the price of your house in Portugal is too high, this could cause several things:
1. Limits buyers. Potential buyers may not view your house in Portugal because it appears to be out of their buying range.
2. Limits showings. Other salespeople may be more reluctant to view your house.
3. Used as leverage. Other realtors may use this house to drive the sale of other houses in Portugal that are better-priced.
4. Extended stay on the market. When a house in Portugal is on the market too long, it may be perceived as defective. Buyers may wonder, “What’s wrong or why hasn’t this sold?”
5. Lower price. An overpriced house, still on the market beyond the average selling time, could lead to a lower selling price. To sell it, you will have to reduce the price, sometimes several times. In the end, you’ll probably get less than if it had been properly priced in the first place.
6. Wasted time and energy. A bank appraisal is most often required to finance a home.
Realtors have known it for years that well-kept homes that are properly priced in the beginning always get you the fastest sale for the best price! And that’s why you need a professional to assist you in the selling of your house in Portugal.
Often, in a seller’s market, houses that are priced slightly below market value initially will sell for more, simply because of the extra interest they incite. This can be a risk, however, and when it comes to such a decision, an experienced, trusted realtor is your best ally to sell your house in Portugal.
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