For a smoother sales transaction that will get you the most money from the sale, avoid these common, yet costly, seller mistakes:
1. Skipping the home inspection. Everyone has heard of a buyer getting an inspection before buying, but as the seller it can also be a good idea to get an inspection before listing a home. A pre-listing inspection can point out issues that should be addressed. This can save you money in the long run; you can handle the repairs on your own time and on your budget.
2. Skimping on sales prep. While you may not want to sink a lot of money into a home you are selling, putting your house on the market without doing some doing some minor repairs can cost you time and money in the long run. You have to spend a little money to make a better profit on your home. And you may not have to do a lot; a good professional cleaning can make a world of difference.
3. Choosing the wrong REALTOR®. It is always good to get references for any realtor, recommendations are great as well. But make sure the realtor you choose is great working with both sellers and buyers and who is an expert at listing homes in your local market.
4. Neglecting curb appeal. You can have a house in pristine condition, but if you forget to keep up on your year work, you run the risk of potential buyers driving right on by your house. In most cases, curb appeal is the akin to first impressions. Buyers may think the house is run down if the yard is not maintained.
5. Withholding information from buyers. Even if you withhold something as minor as a leak or poor drainage in bad weather can lead to issues in the negotiation of the final contract or a lawsuit after closing.
6. Overpricing. To you, your home may be priceless, or you may be hoping to get a large profit from the sale of your home, but not paying attention to the market value research your realtor provides can be disastrous. Overpricing your home in certain markets can lead to your house not even being considered by some buyers leading to potentially more than one price drop. Dropping the price especially more than once can give the impression that there is something wrong with the house and that it can’t sell.
7. Being unprepared for your next step. You should have a plan in place for what you want to do while selling your home. Should you start looking for a new home while yours is still on the market? It is also good to plan for situations such as what happens if you find a home you want to buy before yours is sold? What happens if either the sale of your home is finalized before the purchase of your new home or either transaction falls through? Also definitely have a good understanding of the money needed for both closings.
8. Letting pets and kids spoil a sale. Even though you love your pets and of course your children, your house should look more neutral than your family home. Neutral homes allow potential buyers to visualize themselves in your home. Seeing a lot of your personal items may distract them from seeing their family’s belongs in the home. This may not prevent the sale of your home, but why take the chance.
The help of a reliable, experienced and knowledgeable realtor can make selling your home a little less challenging. He or she can help you avoid mistakes that will hurt your sale.
Comments(0)