Pricing for sellers is about strategic financial positioning. Review what has sold recently, on a square foot basis, as well as what is on the market currently, also on a square foot basis. Make sure your property shows well.
You must prepare for buyer scrutiny. Position your offering price slightly below the competition, so buyers understand how much value they can acquire.
Buyers should use square foot numbers too. Ideally, identify more than one property you would like to buy, within a price range you can afford easily, so you’ll have a backup identified. Include a qualification letter from your bank with any offers, even when, in fact especially when, you are paying all cash. Remember – there are no steals in real estate. So, do your due diligence.
Letting people know who you are and what you want to do creates credibility. Negotiate in good faith, and objectively. In the end, most successful real estate transactions wind up being about compatible people in the real estate world.