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1.
When setting an appropriate selling price for your home, the most important factor is _______.
Choose wisely. There is only one correct answer.
Recent sale prices of similar homes in your neighborhood. Known as "comps," the selling prices, not the asking prices, of similar homes in your area are the most objective guide in terms of setting a realistic selling price for your home.
2.
When selling a home, the _______ is the price that the seller wants to receive.
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Asking price. The fair market value and the selling price are different, but relevant, prices.
3.
The traditional full-service commission rate charged by real estate agents for selling homes is _______.
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5-6%. This is the rate that real estate agents have historically charged. As house prices have risen and the real estate market has become more competitive, many agents will work for a lower commission or will take on portions of the job.
4.
Your home will, in many cases, sell more quickly when home mortgage interest rates are _______.
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Low. Low mortgage interest rates translate into more affordable monthly payments for home buyers, which widens the pool of potential buyers for your home and other homes on the market.
5.
"FSBO" is an abbreviation used by people selling their homes. What does it mean?
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For sale by owner. FSBO is the abbreviation of those who are selling on their own.