1 THE FIRST STEP TO SELLING YOUR HOME FOR MORE MONEY Throughout this book, you will find several examples of houses that sold for different prices and the reasons why. It is crucial that novice home sellers understand the factors that determine the price of a home. By familiarizing yourself with real estate terms such as market value, appraisal value, and assessed value, you can save yourself from disappointment or frustration. When you understand that a calculated home value is not necessarily what you believe your home is 'worth', you avoid overpricing which leaves your home unsold. What is Your Home Worth Strip away any misconceptions you may have that your perceived “worth” determines the sale price of a house. The first step in selling your home is knowing the difference between value, worth, and price. Let's examine the determining factors at work. When you understand those factors, you can leverage them in your favor. There are several ways a home's value is derived.
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