Biggest mistakes people make when they try to sell their homes

Managing Real Estate Broker with Property Up Inc. #471.017853

Selling a brand new house against an older home has its own set of challenges. Typically with older homes owners need to spend some time and money making minor to moderate repairs before putting the home available on the market. Sporadically, there are important repairs that need to be addressed before this could be done or there needs to be some concession in price. With newer homes this is unusual. Things are usually still in fine condition, paint is new, the carpet isn't worn, and things are not falling apart. When selling your new home your efforts will need to be focused elsewhere.

Selling A New Home

Determine Minimum Selling Price - If you're selling a brand new home then chances are something unanticipated has happened. Most families stay in a home for a lengthy amount of time before selling so that they build equity and pay down the mortgage. Real estate is a wonderful investment because typically with time its worth appreciates. Sadly if the home is new then it's likely that not much equity has been accumulated while still having a high mortgage balance. No homeowner wants to suffer a loss when selling their home so in cases like this it's significant to determine what your minimum selling price is.

Take into account mortgage payoff, closing costs, realtor commission, and any other fees which are tied to selling. Depending upon the real estate market you might not make a bundle on the deal, but at least you won't lose your shirt. Preparing Your Home - Although your home is in good conditions do not neglect the small stuff. Spend some time to thoroughly clean the inside of your home and remove all the mess and debris as possible. Do that on the exterior as well, trim and cut and lawn and cut back any overgrown bushes and shrubs. Make your property look good, inside and out.

Since you might not have the pliability in negotiating the price you're going to have to do everything you may to get the most out of it. The price, condition, and amenities are going to be the focus of selling your home. What Are Your Homes Strengths - take a seat and put together a list of your house's strengths and amenities, like, hardwood floors, granite counter tops, new furnace, new roof, and so forth. Take pictures and include the info on a flyer. When selling a new home you can expect to get more money because it is in good condition, but if your profit\/loss margin is tight you need to emphasize the strengths your home has to offer. Go beyond the home itself and look at the schools and neighborhood. Anything that may be a selling point should be thought about and find resourceful ways to present this info to buyers. Develop a Marketing Plan - As you draw closer to putting your home available on the market you might consider utilizing a local realtor.

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Posted by

John Herman

Licensed Illinois Managing Broker

Property Up Inc.

Call Now  (847) 847-4711 For Real Estate Service.



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Licensed Illinois Managing Broker- Property up Inc
Licensed Illinois Barrington Managing Broker
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