Home Bidding War – How to Maximize the Sale Price of Your Home

Most homeowners want to get as much money as possible when selling their homes. Doing so may allow them to enjoy a comfortable retirement or simply make a larger down payment on the next property that they buy. Let’s go over a few strategies that can increase interest in your home and drive up the price that people are willing to pay for it.

home bidding

List It Below Market Value

Listing a home for less than its true market value may attract multiple offers on it. For instance, if similar homes in your area sold for $100,000 in the past few months, you may want to list yours at $90,000. Generally speaking, those bidding on the property will become invested in “winning” the battle to become its new owner.

Therefore, they may be willing to spend several thousands of dollars above the original list price to do so. This could mean that a home worth $100,000 goes for $105,000 or $110,000 as prospective buyers do whatever it takes to get their prize property. (Read more about maintenance projects you should do before selling your home.)

Maximize Living Space

It is not uncommon for homes to be priced by the square foot. Therefore, finishing the basement or attic could add hundreds or thousands of livable square footage to the home. That could result in hundreds or thousands of extra dollars added to the market value of your property. However, before expanding your home, be sure to talk with a professional to determine how homes are priced in your area.

Market the Home Aggressively

Marketing the home through social media and other channels can increase the amount of exposure that it gets. Working with a real estate agent or another professional can also help you get your home seen by the right people. If you have to buy a new home after selling your current one, a mortgage company in Las Vegas may be able to offer assistance.