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Updated almost 8 years ago,
Selling an inherited property -- how to price?
I've inherited a property that I'm getting ready to sell. I've spoken to 2 real estate agents thus far. We have an appraisal which at this point is about a year old for $200k.
Last summer, a realtor mentioned that we should list for around $240-250k.
Last week, another realtor suggested pricing around $220k based on various comps in the area. Redfin lists the property at $247k.
The house is in pretty good shape, I'd say and we're investing about $1k in patch-work touch-ups, and general landscaping clean-up.
The agent is taking 5% of the total sale. There is a mortgage left on the house that will need to be paid off as well.
I do think it could go for a bit more, TBH, although, I'm curious if it makes sense to price it closer to the first realtor's price or the most recent realtor's? What's the benefit of pricing it higher vs. lower?