Setting a price
Before you can put your home on the market, you need to work out how much it is worth and how much money you hope to get for it. Your selling agent will be able to help you with this.
How do I set a price for the property?
The price you set for your property will depend on:
the value of the property (your solicitor or estate agent will arrange for a valuation to be carried out before your home goes on the market)
the current housing market, and how much similar properties in the area are selling for (in a buoyant housing market, this could be considerably more than the properties are actually valued at)
whether you are setting an 'offers over' or fixed price (see below).
Ask your solicitor or estate agent for help in setting the price. They will know how much similar properties have gone for and how much you are likely to make.
If you subscribe to HousepriceScotland.com, you can find out the prices that houses in your area have sold for in the past few years.
Check house prices for free at OurProperty.co.uk.
An 'offers over' (or 'upset') price is usually the lowest price that you are prepared to accept for your home. You may decide to set the price deliberately below the value of the property, in order to generate plenty of interest from prospective buyers. Bear in mind, though, that if you do set the offers over price a lot lower than the figure you actually want to receive, you may be encouraging people to spend time and money surveying and making offers for a property they can't afford.
If you want to sell your home quickly and you know how much you need to make for it (for example, if you have already bought another home) then you can advertise the property at a fixed price. This means that you will accept the first secure offer made for that amount.
Fixed price properties are attractive to buyers (especially first time buyers) because they mean buyers can avoid the possibility of losing out in a bidding war.
You may consider selling for a lower price if an offer is made, especially if the date of entry (the day the buyer will pay you the money for the property) is convenient or your home has been on the market for a long time.
Last updated: 29 December 2014