Bangalore: Most of the property owners overprice their homes when it comes to selling. But the bitter fact is that it is the buyers who determine the market value of the house and not the seller. As a seller, you have a right to ask for whatever price you want, which you can drop if no one bites. Pricing your home too high works against you. There is a huge turn in the real estate market especially when the waves of recession are felt across the globe. Pricing homes is part art and part science. As it involves evaluating similar properties, making alteration for the inequality among them, follow market movements and taking stock of present record, all in an attempt to come up with a range of value. Many sellers get tempted to take a few percentage points onto the price to and leave no room to negotiate for the buyers. But they never take into account the problems they incur with overpricing their home. To avoid this temptation, let's take a look at the deadly sins of overpricing: Limits the Number of Buyers By overpricing home you cut out good buyers that are qualified below that amount. And once your property is being recognized as an overpriced property by the public, the response from buyers gradually drops. Very few buyers make an offer on overpriced property. Even if you accept their lower offer, they aren't getting a bargain since the final price is probably no less than "fair market value."