Top 6 Home Selling Mistakes to Avoid
If you are planning to put your house on the market in the near future, here are the top six mistakes that you should watch out for! Making an emotional decision. Selling your home is a major decision in your life and may turn out to be a costly one if not done without proper planning. Are you and your family ready to move from a home where you’ve spent some of the best days of your life? What are you going to do after selling your home? Do you have a definite plan for the future? Lack of proper research. Another costly mistake which many sellers make is trying to sell their home by themselves. Though this is not an impossible task, research shows that homes that are marketed by the owners themselves are likely to stay on the market for a longer time. Will the financial benefits compensate for the probable delay in selling? Selling a home is a long, multi-phased project with several technical and legal formalities. As a seller, do you understand all of the different stages and processes involved? How do you plan to market your home? Do you know how to Stage your home in the best possible way as to showcase its most attractive features? Can you confidently negotiate prices with potential buyers? These are just but some of the many questions that need to be answered before you start searching for buyers for your home. Interview three professional real estate agents to find out what they would do for you, what their expertise is and if they are the right fit to help you sell your home. Incorrect pricing. You may end up making a huge loss if you price your home too high or too low. You cannot decide the price of your home based on how much money you need currently or how much you paid for it when you bought it. But you can arrive at the correct pricing by finding out what other homes in the area are getting, talking to an agent, or by having a professional appraiser evaluate your home and its amenities. Putting your house on the market without necessary repairs. Buyers are going to think twice about putting in a bid when they come across broken door knobs, leaky taps or loose handrails during the showing. If you want your house to be on the market for the least possible time, make sure that all necessary repairs are done before you schedule a showing for a buyer. Having a professional Stager Stage your home after the repairs are done can be the icing on the cake. Doing more than needed. Okay, you need to make your home attractive enough to lure a potential buyer to place a bid. At the same time, you need to know where to draw the line. Most experts advise investing a small amount in updating your kitchen – the most important room in any home – before listing your home. But keep in mind that the upgrades will not necessary raise the selling price by the same amount that you invest. Not being frank with your buyer. Don’t try to keep your home’s history and past problems a secret from the buyer. Since no buyer is going to complete a sale without having a professional home inspection done, these problems are bound to come out sooner or later and it would look better if you were upfront with them from the beginning. Kurt Jacobson is a surfing enthusiast with a background in real estate. Having moved 10 times in the past 7 years, he thrives on helping others learn from his experiences. When he’s not out shredding waves he writes about homes for househunter.co.