Selling your home can be both time-consuming and complicated, especially if you’re a first-time seller, so it’s little wonder that mistakes can be made. However, a little foreknowledge is a wonderful thing, so to avoid the chance of any pitfalls, check out our list of things you shouldn’t do when selling your home.
#1: Don’t Try to Sell Your House on Your Own
The moving process can be very expensive, but there are ways to cut costs. You can shop around for affordable home mortgages, for example, and you can buy a house that is within your financial means. These suggestions will serve you well, but when you’re looking to make further cutbacks, don’t assume you can save money by selling your house on your own. Yes, you won’t have to incur the costs associated with a real estate agent, but without their expert help, you might struggle to sell quickly.
A good agent will understand the housing market and will be able to advise you on local house prices. They will have more experience than you with home buyers too, especially where marketing is concerned. So, do what you can to find the right real estate company, as you will benefit from all of the advice they can give if you do.
#2: Don’t Set an Unrealistic Price
Overpricing is one of the biggest mistakes sellers can make. Some do it because they want to make as much money as they can, while others inflate the price to recoup any money lost during the moving process. This is something you need to avoid, as most home buyers will do their homework before visiting your property. They will look at local house prices in your area, and they will look at what you have done to justify the asking price.
A real estate agent will guide you on pricing so listen to their expert advice. If you want to profit from the sale, do what you can to add value to your property before putting it on the market. This way, you will have the opportunity to raise your asking price and still attract the attention of savvy home buyers.
#3: Don’t Hide Problems With Your Property
Many buyers will pay for an inspection before signing a contract, so don’t attempt to hide any major issues. Not only is this ethically wrong, but it will affect your home’s sale if the problems are later uncovered.
If there are any issues within your property, you have three options. You can repair any problems yourself, as this would allow you to keep your asking price. Alternatively, you could sell your home below the market value with the expectation that the buyer will deal with any maintenance issues. Or you could list your house at market value and give the buyer credit for home repairs during the closing period.
So, consider these suggestions, and resist the urge to hide repair issues with a rug or a sofa. You will be able to keep your good reputation if you do, and you should be able to stay on good terms with the prospective home buyer!