CHAPTER 13
The Easiest Way to Lose $36,000 on Your Home Sale
Chuck wanted to sell his home. A real estate agent contacted him and told him that someone wanted to buy it. The buyers were offering $285,000 and were approved for a loan. “Will you sell your home to them?” the real estate agent asked. On the surface, it seemed like a great deal. Chuck could sell his home quickly and avoid the inconvenience of the normal selling process. Chuck accepted the $285,000 offer and moved on with his life. A few weeks later, Chuck’s neighbor sold his house for $321,000. The neighbor’s house was slightly smaller than Chuck’s, but otherwise comparable and in similar condition. Why did Chuck sell his house for $36,000 less than his neighbor? Why did he work so hard to pay down his mortgage? Why did he work hard to keep his house in tip-top shape, only to sell it for less than it was worth? Because, unfortunately, Chuck never checked with anyone to find out what his house was actually worth. He didn’t get an appraisal or a second opinion from another real estate agent. Here’s how to avoid having this happen to you. Obtain a second opinion of the value of your home before you put it on the market.
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