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Everyone wants to get the maximum amount possible when they sell their home, but many homes sit on the market because they are overpriced. One real estate axiom states that "the true monetary value of real estate is what someone is actually willing to pay for it". A professional real estate agent determines the asking price of a property by examining the selling price of comparable homes in the area which have closed.
A seller might occasionally be heard to complain that a sales professional "lowballed" their home for a quick, easy sale. However, real estate agents always work to maximize their seller's profit. They price your home based on a careful calculation of the maximum amount you should be able to get (with a little room to negotiate).
If you are really serious about selling your home, work with your sales professional to make sure that it is priced right.
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| Q |
What does the abbreviation PITI stand for?
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| A |
Principal, Interest, Taxes and Insurance are the four major items included in a monthly mortgage payment. |
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