under the home's estimated worth to spark interest, increase traffic, and invite multiple offers. Pricing above market value is to set the listing price slightly above the home's estimated worth to test demand and make room for negotiation without falling below the seller’s ideal selling price; this option works well in a strong seller’s market.
VALUE, WORTH AND P TH AND PRICE:
Value is what the market says your home should sell for, based on things like location, size, and recent sales. Worth is personal—worth is what your home means to you or how much a buyer is willing to pay because it fits their needs perfectly. Price is the final number you both agree on.
PROFESSIONAL APPRAISAL
An appraisal or property valuation is a professional unbiased assessment of a home's market value, conducted by a licensed appraiser. In most cases, the buyer’s lender orders the appraisal during the mortgage approval process to confirm that the property’s market value supports the requested loan amount. This is especially important because real estate transactions don’t happen every day, and each property has unique features that can significantly influence its value—making a professional evaluation essential for a fair and informed decision for both the buyer and the lender. Sellers can use the appraisal to guide them when setting a competitive listing price, and Buyers can reference it to determine a fair offer. Additional important factors in a house appraisal are: • Dwelling Type – Whether the home is a one-story, two- story, split-level, or factory-built structure.
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