Home Selling Mistakes You Should Avoid
Selling a home is a major life milestone. It can be complicated when you consider steps included: preparing & listing, making repairs, finding a qualified buyer, navigating the closing deal process and finally moving into your next phase. While it is easy to get excited, you need to remember the technical elements of selling your house such as the TP584 form. A title company like MacGregor Abstract can help with this.
The outcome of a mistake can impact your financial condition and your peace of mind. Here are some mistakes you should avoid when selling a house.
#1 – Set an unrealistic price
The price you want and the market price are two very different things. Probably, you have heard of Fair Market Value which refers to how a house is valued when both buyer & seller are knowledgeable about the property.
For the seller, it’s the sweet spot between asking about too much. If you can’t hit this sweet spot, you can risk leaving money on the table or having your house sit on the market for a longer time, which can have consequences.
#2 – Only considering the highest offer
While the highest offer is exciting, but not always the best offers given your requirements. It’s common in several traditional sales to have incidents. These conditions must be satisfied for the sales to close. You may have several chances that protect the buyer’s interest such as financing or inspection situation.
#3 – Ignoring major repairs and making costly renovations
A long list of maintenance problems can turn buyers off & potentially reduce your home’s market value. Most significantly, buyers want your condition to meet the description. Consider prioritizing the most dazzling problems, especially those who turn up during a home inspection. Many buyers will need an inspection before closing the deal.
#4 – Not prepare your property for sale
One of the challenges of your house listing on the market is representing your home to potential buyers. Normal speaking, the cleaner & well-decorated your home is the more appeal it can have. According to Realtor.com, well-decorated houses sell 88% faster than those that are not staged.
#5 – Selecting the wrong agent to sell
If you select to work with an experienced real estate agent, ensure you choose an expert who has your best interests. According to Realtor.com, some agents charge a flat fee while others charge a percentage of the sales costs. Sellers can negotiate the commission.
To ensure you are getting the most bang for your buck, take time to interview potential real estate agents. Check their license & credentials, contact with past clients and ensure they have a lot of selling experiences in your specific area and cost.
You may also ask potential agents about:
- Their home marketing plan & negotiation style
- They want you to sign a contract
- Whether they have any current listings that might take parts with yours
The Bottom Line!
At the end of the day, you want a smooth & painless home selling process. If you are thinking about all things that can go wrong might be amazing, but remember that knowledge is power. By avoiding these mistakes you should avoid when putting your home in market for selling, you can be more confident when something doesn’t go as planned.
For more information about a real estate agent, you can contact us!