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Think about placing your house on the market as far in advance as possible before purchasing another house so you do not wind up with two mortgages and the additional expense of a bridge loan. Find out for what price the houses in the neighborhood are selling. Be careful not to price your house too high. Study the most recent comparative sales figures. Don’t antagonize the buyer. Often they have to sell their home first before they can buy yours.
A home’s market value is the perception of the buyer. Sometimes, most often in a situation with multiple buyers, offers will be made that exceed the listing price. Believe it or not, appraisals do not always keep up with market value. Appraisals are performed for lenders, not buyers. The purpose is to justify the sales price so that the lender feels they are making a solid investment since the property is collateral for the loan.
A landlord must tell existing or prospective tenants that a property is on the market. A landlord then has the right to bring buyers through, subject to reasonable conditions placed on that access by the tenant. Landlords and tenants need to work out what will suit them both. Any agents contracted to sell the property must stick to those arrangements.
