House Prices in Portugal
The right price affects the 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 and selling time frame.
In real estate terms, market value is the price at which a particular house, in its current condition, should sell within 60 to 90 days. In more difficult times however these times can be between six months and one year.
If your price is too high, this could;
Limits buyers - Potential buyers may not view your house because it appears to be out of their buying range.
Limits showings - Other salespeople may be more reluctant to view your house.
Be used as leverage - Other realtors may use this house to drive the sale of better priced houses.
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?”
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 your house was priced correctly the first time around.
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 agency 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.