Quote:
Originally posted by competentone
If you're satisfied with what you got for it, then that's OK, but there is a good chance it was probably priced below a fair market value if it sold that fast.
How did you arrive at your price? Did you use an agent, did he/she help you price it? Did he/she bring you the buyer too?
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Yeah, we used a real estate agent. Our price was based off of comparable sales in the neighborhood in the last 3 months. I basically put the house right in the middle of those sales.
My wife and I had the same reaction as you initially, we thought "Gee, we had it priced too low". After thinking about it more, I think it was more that we had it priced correctly for the market and we do have a pretty nice house, we did some low priced upgrades ourselves (like wood floors in the family room...well laminate floors anyway, not true hardwoods) which I think helped sell it as well.
According to our realtor, the buyers simply loved the house and didn't want to take a chance on losing out on it, so they offered full price. I was not expecting to get full price, we paid $156k for the house 4 years ago and sold it for $240k. I'm happy with making $86k in 4 years...
Plus, it is a huge load off my mind to get it sold. Perhaps I left $3-4k on the table, but my house was only on the market for 3 days instead of 3 months...
The other good news is we found a house we love in Keller and made an offer on it today. Hopefully we will hear back tomorrow....