When selling a home, most people look for the positives, things like how to increase the value of a home, how to sell a home quickly, and so on. Without knowing the mistakes to avoid, your home can stay too long in the market. Here are the seven most common mistakes people make when selling their homes:
Mistake 1: Thinking You Do Not Need A Realtor To Sell The Home
I have the internet, I can do this myself. In fact, I will list my home on OLX and several property sites and boom! Buyers will come. Well, they do not. Research shows that less than 10% of sell by owner homes really sell. A real estate agent is paramount in the deal. S/he knows what is needed in a listing and most likely, s/he has someone looking for a home just like yours.
Mistake 2: Not Knowing How To Price The Home Just Right
Alright, there is a thin line between undervaluing and overvaluing a home. If it is undervalued, it may sell fast, but then it will not fetch you the right amount of money that it should. When it is overvalued, it will stay too long in the market, and you sure do not want that.
Mistake 3: Not Being Emotionally Ready To Part With Your Dear Home
It is where you have lived for many years, it has become very personal to you. Why do you want to sell it? You must face all the facts. You can sell to upgrade to a bigger home. You might also sell to get a closure on the death of your spouse, and so on. Whatever the reason, just make sure you are emotionally ready to sell your home. If you aim to buy a new one, ensure you will buy a home that will make you say, “Wow, it was worth selling the old one for this!”
Mistake 4: Not Hiring A Property Inspector
Well, the new owners can repair that broken window pane. It is only a pane! Big mistake. If you do not hire an inspector to unearth all the issues that may be in the home, you will have a hard time selling the home. Do not just find the issues, fix them proper, because the buyer will also hire a property inspector.
Mistake 5: Not Sprucing Up The Home For Sale
Most people will accumulate junk in the yard, but that is their pet peeve and they do not want to be reminded of that when they are buying a new home. That is why you must prep your home, both indoor and outdoor, for sale. Spruce up the driveway, the yard, the kitchen, and the bathroom.
Mistake 6: Being A Poor Bargainer
You already have your mind set on a price, but you have to keep an open mind. You will be called by interested buyers who will make you such low offers you might go insane. Do not tell them off. Many people make the mistake of bashing such people, yet they might top up their offer and come back. Be nice!
Mistake 7: Playing Smart-Alecky With The Buyers
Ok, you know your home has issues with the plumbing. In fact, you suspect that it might all have to be overhauled, but you do not disclose that. Smart, so you think. You will end up paying too high for not disclosing. If your home has an issue, disclose it.