When you are selling a Charlottesville home one of the terms you hear a lot is fair market value. But what exactly is meant by fair market value and how is it determined?
Fair market value is the price a qualified buyer will spend to buy your home.
Fair market value is not
- How much your home is assessed for
- How much you need to sell your home for to pay off your mortgage
- How much your next door neighbor's home sold for
- How much you need to get inorder to buy the next home you want
If you want to sell your home in todays market, it is crucial to price it correctly. Price is the most important determining factor as to whether your home will sell. When your home is at the correct price, offers will come. If you are serious about selling your home, it is helpful to have the assistance of a qualified real estate professional to assist you with setting the price.