Some Information Need Not Be Shared During the Sale of Your Home

By
Real Estate Agent with RE/MAX Associates RS - 0019092

When you list your home for sale, many people may be curious as to why you have decided to part with it. Perhaps you are looking for a change of scenery, or maybe you are ready to take on a new challenge. Whatever the reason, it is important to remember that you are in control of the situation and that you have the power to make the best decision for yourself and your family.

While it's perfectly acceptable to be open and honest with your friends and family, if a potential buyer inquires about your home, there are certain things you should avoid saying if you want to successfully and profitably sell your property.

Some of the ways you should probably not respond to questions about why you’re selling, including:

 

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“I got a job transfer.” While job transfers are a common reason to move, letting potential buyers know that you likely have a date when you need to sell your home by (AKA your job start date) could make them think you’re eager to sell quickly—which could cause them to make a low offer.

 

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“Our family needs a bigger house.” It makes total sense that, as your family grows, you may need to upgrade to a home with more space. But just don’t tell that to buyers! When buyers hear you say you need to buy a bigger home for your family, it may make them question whether the home you’re selling is spacious enough for them—even if they don’t have a growing family.

 

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“We need a cheaper mortgage.” The last message you want to send to potential buyers is that your home is too expensive or overpriced, which they could easily end up thinking if you say you’re moving for a more affordable housing payment.

 

 

When selling, it is extremely important to disclose in writing anything pertaining to the property but not important to discuss the circumstances around the decision to sell.  It could be like negotiating your property in the buyers' favor and that can affect your bottom line.

 

 


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Comments (6)

Phyllis Ross
eXp Realty LLC Salina Group - Salina, KS
Realtor Central Kansas Residential Sales

Insightful information Christopher. Thank you for sharing. Have a wonderful day and a blessed week.

Feb 15, 2023 10:06 AM
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

You are so right. It's none of their business and whatever you say could work against you. But saying "That's my business" would sound a bit rude.

That's another good reason for buyers and sellers not to meet until after the transaction has closed.

Feb 15, 2023 08:38 PM
Tim Maitski
Atlanta Communities Real Estate Brokerage - Atlanta, GA
Truth, Excellence and a Good Deal

I think you should make sure you have a good answer to that question.  You give some great points to think about before answering it.  That is one of the first questions buyers always ask me.  Why are they selling?  If you don't fill in the blank with a reasonable answer, the buyers will create their own story which usually is a worst case scenario.

Feb 16, 2023 06:49 AM
Paddy Deighan MBA JD PhD
http://www.medicalandspaconsulting.com - Vail, CO
Paddy Deighan J.D. Ph.D

Excellent points… it is astounding what some people say. I believe it is better to have the seller absent during showing appointsmsnts for this and other reasons

Feb 16, 2023 10:16 AM
Mary Hutchison, SRES, ABR
Better Homes and Gardens Real Estate-Kansas City Homes - Kansas City, MO
Experienced Agent in Kansas City Metro area

Sellers don't have to reveal anything but often do OK their agent to give some generic reason for moving

Feb 17, 2023 02:41 PM
Diana Dahlberg
1 Month Realty - Pleasant Prairie, WI
Real Estate in Kenosha, WI since 1994 262-308-3563

Sellers must disclose, disclose, disclose about the house -- but not about their personal situation and/or reason for selling the house.  

Feb 17, 2023 08:27 PM