Problems of mispricing when selling a house on Fuerteventura

Problems of mispricing when selling a house on Fuerteventura

The price, together with the location, environment and characteristics of the property, are the fundamental factors in the decision to purchase a home.

If the owner sets an incorrect market price for his property, he will face negative consequences. We identify what these problems are and explain how to set the right price.

Consequences of mispricing when selling a house

Every homeowner wants to earn as much as possible on the sale of their home, so the temptation to set a higher price than the market rate is common.

Expensive house will help competitors sell theirs

the house with the off-market price, it will serve as a way for others in the same neighborhood to prove that theirs is
a good opportunity, as it is cheaper.

The goal should be to enter the market at a price that will attract buyers, not drive them to other homes.

Seller loses potential interested buyers

Prospective buyers only visit those properties that are within a certain price range.

If you ask for too much, even if you are willing to accept lower offers, you won’t get them, because the
potential buyers will not even get to see the property.

The property will be burned in the market

A high price means that it will take longer to sell or even not sell at all.

People avoid houses that have been on the market for a long time, because they assume that there will be something wrong with it, or that the seller is not willing to negotiate.

The best offers are usually received in the first 30-60 days, but only if the price is right from the beginning.

The property will have problems with the appraisal.

Even if you get an offer from someone who does not know the market, the bank knows what the house is really worth and will not give a loan for it.

The seller will have to lower the price anyway or lose the transaction.

If you want to know the price at which you can sell your property in Fuerteventura, we offer you the Real Estate Market Report and our consultancy to analyze your property and make a personalized study, to propose a market price, along with a marketing plan for the sale of your property. marketing plan for the sale .


How to set the right price for selling a house in Fuerteventura

If you set the price too low, you lose money.
If you price too much, you will not sell, and you will lose time and then money.
It is a task that requires good advice from a professional in the area.
At Destiny Home we do a thorough analysis of each home and compare it to RECENT SALES in the area.

Real market data, not supply data from homes published on real estate portals, which are not sold.

With this REAL information, we sat down with the owner and decided on a good starting point.

We say “STARTING POINT” because markets can change rapidly, and we have to be able to adjust to them.

What is the value of the house based on?

– The current real estate market.
– The offer is similar to the house for sale.
– Financing capacity.
– The condition of the dwelling.
– Buyer perception.

– The location and the area.

What is NOT the value of the house based on?

– What the owner needs to sell.
– What has been spent on it.
– What the owner wants.
– What the one you are going to buy is worth.
– What the neighbour or brother-in-law told you.
– The owner’s feelings towards it.

All the information can be found in the Fuerteventura Home Seller’s Guide, which we offer to homeowners who are interested in selling their home, with advice on pricing and how to increase the value of the property before putting it up for sale; get your Guide:

selling home guide

Calculate the value of your house in Fuerteventura

In Destiny Home we have 2 offices open to the public, in Corralejo and Puerto del Rosario, from which the agents offer the service of advice to owners in Fuerteventura.

mispricing when selling a house

Destiny Home real estate consultants analyzing real estate market prices in Fuerteventura.

We know in detail the real estate market in Fuerteventura and we have databases of sales transactions, so we can compare each house with other similar ones that have been sold recently.

We can prepare a first valuation report, but we recommend that the real estate consultant be allowed to visit the property in order to make a more detailed analysis and propose a real price for selling the house.


Esta información está disponible en / Post available in: Español (Spanish)

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