If you’re like many people, you want to price your condo for sale at – or above – the price you paid for it.
But basing your listing price on how much you paid can be a huge mistake. Here’s what you need to know.
Basing Your Listing Price on How Much You Paid
When you base your listing price on how much you paid for your home, you could be way off. If the price is too high, your condo is going to sit on the market without selling; the listing will become “stale,” and you’ll have to either lower the price or take it off the market entirely. If you price it too low, you’re leaving money on the table. (And that’s money that could go toward the down payment on your next condo or loft in DTLA or in your pocket.)
Here’s the deal: Buyers don’t care how much you paid. They want to get a condo at a fair price, regardless of how much you owe or how much you paid for it.
If it looks like a buyer won’t get a great deal, more often than not, they’ll go elsewhere.
Are You Buying a Loft or Condo for Sale in DTLA?
Call us at 213-254-7626 or get in touch with us online to start exploring your options when you want to buy a loft or condo in downtown Los Angeles.
While you’re here, check out our: