agent promised. But it wasn’t painless.
A few weeks later, Chuck’s neighbor sold his house for $925,000. The neighbor’s house was slightly smaller than Chuck’s but otherwise comparable and in similar condition. Why did Chuck sell his house for $140,000 less than his neighbor? What features made his neighbor’s house worth almost 20% more? Was it because it had a red door? Was it because the grass was cut? Why did Chuck bother to work so hard to pay down his mortgage? Why did he work so hard to keep his house in tip-top shape, only to sell it for less than it was worth? Because, unfortunately, Chuck didn’t check with anyone to find out what his house was truly worth on the market. He didn’t get an appraisal or a second opinion. His great mistake was not consulting a real estate professional other than the buyer’s agent—who, of course, was looking to maximize the deal for his buying clients. In reality, Chuck was an amateur in the real estate game, up against a professional. Here’s how to avoid making the same mistake: Obtain a second or even third opinion on the value of your home before putting it on the market. Valuing homes for sale is a range game; both art and science are involved in the process. And there’s a lot of art—probably more than you think.
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