b'How to Determine the Correct Asking PriceBottom line? Pricing your home at or just below Fair Market Value is the best way to ensure you get the best sales price and terms in the least amount of time.Fair Market Value is defined by the Dictionary of Real Estate Appraisal as:The price at which the property would change hands between a willing buyer and awillingseller,neitherbeingunderanycompulsiontobuyortosellandboth havingreasonableknowledgeofrelevantfacts.Thefairmarketvalueofa particularitemofpropertyincludibleinthedecedentsgrossestateisnottobe determinedbyaforcedsaleprice.Noristhefairmarketvalueofanitemof property to be determined by the sale price of the item in a market other than that in which such item is most commonly sold to the public, taking into account the location of the item wherever appropriate.What does THAT mean? Its the price that a reasonable buyer would be willing to payandreasonablesellerwillingtoreceiveforapropertybasedoncurrent market conditions.FAIRmarketvalueisbasedonnumbersnotemotion. Therearetimeswhen sellersgetfrustratedthroughthepricingprocessbecausetheyhaveemotional rootsinthevalueoftheirhome.Forexample,hand-pickedcabinetry,antique hardware,custommolding,orprizedpaintcolorcouldbethecornerstonesof what makes your home different and unique to them from its listing counterparts.But they arent what necessarily add up to a higher than average sales price.Noristheamountofequity(orlackthereof)inaproperty.Thereareother occasionswhensellershaveeitheroverfinancedtheirhomeorhaveover-improvedtheirhomebasedonmarketandwanttosignificantlyincreasethe asking price to make up for losses or pay for improvements. That doesnt work either.srqpr.com 14 941-777-0424'