mortgage? Why did he work so hard to keep his house in tip-top shape, only to sell it for less than it probably was worth? Why? 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 talking to a real estate professional other than the buyer’s agent (who, of course, is looking to maximize the deal for his/her buying clients). Really, it was because Chuck was an amateur in the real estate game, up against a professional. Here is my tip on how to avoid having this happen to you: Obtain a second or even third opinion on the value of your home before you put it on the market. Valuing homes for sale is a range game; both art and science are involved in the process. But there’s a lot of art — probably more than you think. If you don’t price your home correctly, you risk selling it for less than it’s worth and/or wasting time while your home sits on the market because it’s not priced correctly. Your objective is to price your home so that it sells quickly and for the highest price possible. Each of us probably has a skewed idea of the worth of our home. Either we think it’s far more marvelous than it is, or we’re so tired of it that we think of it as a horrendous cross to bear that no one would ever want. Add to that your hopes and dreams of what to do with your money once you sell, and pricing your own home is a total danger zone. This is indeed an area where a real estate agent comes in handy. However, it’s certainly not the only area. Throughout the rest of this book, I’m going to “take you to 5
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