Calculating the selling price
Calculating the selling price....
The most important thing before you put "On Sale" tag on your property or house is to calculate the selling price. This is the single thing which will determine whether you have made profit or loss. It can be defined as amount that can be received after completing the sale. Finally to get selling price you are supposed to deduct real estate agent commission, advertisement expenses, repayment of debt and attorneys fees. The Final amount after deducting all the selling expenditure from selling price would be your profit or loss. The personal properties like house, furniture, kitchen utilities and garden equipments are not the part of above calculation.
The cost of building the house or purchases made for the house are to be considered first to make out whether you have made profit or loss. The sales process can only be evaluated by this way. Title fees, Survey cost, solicitor fees, tax paid, mortgage fee, insurance, real estate commission and maintenance work need to be add up for calculating the cost of house or property While rental charges, fire insurance premium and lender appraisal should not be included.
As repair don't increase the longevity and durability of the house, so it's not included to calculate the property cost. Every house is unique and different, so you cannot calculate the cost by any formula. Usually buyers negotiate price to large extent, they won't agree to any price quoted by you, so better to calculate the selling price in advance.
Source: Sell Property Fast
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