10 Things to Avoid When Selling Your Home
Selling your home and marketing it to potential buyers is hard. Still, a tougher challenge is for you to get mentally prepared for putting their residence on the market.
After all, if you’ve been happily living in your home for years. It’s difficult to detach yourself from your memories and look at the place as a commodity on the market. Still, you have to remember that you are selling your home. Apparently, you will have to put in work to make that happen.
In this case, avoid these common, yet costly, mistakes when selling your home for a smoother transaction:
Skipping a home inspection
Depending on the age of your home, scheduling a pre-listing home inspection could save you a lot of time and aggravation. You can address issues on your own time and budget before negotiating with a buyer to fix problems.
Skimping on Listing Photos
So many buyers look for homes online these days and so many of those homes have photos. So, you’ll be doing yourself a real disservice if you don’t offer photos as well. At the same time, there are so many poor photos of homes for sale that if you do a good job, it will set your listing apart and help generate extra interest. Good photos should be crisp and clear, so it’s important to take them with enough natural light as possible. More importantly, they should showcase your home’s best assets. Consider using a wide-angle lens as this allows you to show potential buyers what entire rooms look like. Moreover, your home will likely languish on the market for having a major problem if you don’t make prior renovations. A thorough, professional-level cleaning should be your bare minimum seller prep. Your eventual sales price is likely to be lower if you are not selling your home within the first few weeks after having it listed.
Choosing the wrong REALTOR®
Take the time to pick a REALTOR® with an excellent reputation for listing homes. Your payoff will be much larger if you list your home with a REALTOR® with local market knowledge and sales expertise.
Neglecting to ramp up your curb appeal
If you polish and primp inside your home but neglect to pull weeds or paint your front door, you run the risk of potential buyers leaving without ever entering your home.
Withholding information from buyers
You need to disclose whatever issues your home may have. Sweeping a leaking sinks or a flooded basement can lead to a nasty negotiating period. The worse is when you get a lawsuit after the settlement.
Overpricing your home
You can avoid overpricing your home by hiring someone who can give you a strong market analysis. The right REALTOR® can help you determine a more reasonable price for your home. On the other hand, basing your listing price on an inflated view of your home’s value will compel you to sell for multiple price drops. In other words, you will get a lesser sale price for your home.
Being unprepared for your next step
An important firts step is to know whether you should buy your next home or sell your current home first. You need a back-up plan in case your transaction on either end takes longer or shorter than you think. You also need to understand your mortgage payoff and the closing costs you must pay.
Letting your pets and kids spoil a sale
Buyers want to visualize themselves and their own family in your home. With that being said, you will have to detach emotionally from your home – no matter how hard it can get. Bribe your kids if you have to, but make sure the house is neat and as neutral-looking and smelling as possible. So if possible, you need to take the kids out. You may also need to lock up your pets or take them for a walk outside. After all, you never know if a buyer who is terrified of dogs or cats will be turned off because of your adorable pet.
Involve yourself emotionally
Once you decide on selling your home, it can be helpful to start thinking of yourself as a businessperson and a homeseller rather than as the home’s owner. By looking at the transaction from a purely financial perspective, you’ll distance yourself from the emotional aspects of selling the property that you’ve undoubtedly created many memories in. Also, try to remember how you felt when you were shopping for that home. Most buyers will also be in an emotional state. If you can remember that you are selling not just a piece of property but also an image, a dream and a lifestyle, you’ll be more likely to put in the extra effort of staging and perhaps some minor remodeling to get top dollar for your home. These changes in appearance will not only help the sales price. Indeed, they will also help you create that emotional distance because the home will look less familiar.
Signing a purchase contract with an unqualified buyer
It’s more than reasonable to expect a buyer to bring a pre-approval letter from a mortgage lender (or proof of funds for cash purchases) showing that he or she has the money to buy the home. Signing a contract with a buyer whose purchase of your home is contingent on the sale of his or her own property may also put you in a serious bind if you need to close by a particular date.
Selling your home can be challenging, but with the help of a reliable REALTOR® you can avoid making mistakes and reap the rewards of your sale. Contact us today, your premier real estate professionals that can protect your best interest.