Buying a home is not a cakewalk, neither selling it is. Selling involves as much complications as buying and many first-time home-sellers make mistakes that they regret later. We understand that it is very exciting to put up a ‘For Sale’ sign on your house. The joy of moving to a new place and earning a profit out of this sale makes it all the more exhilarating. However, not knowing the basics of a home sale can make it more frustrating than joyous.
To save you from facing a seller’s remorse later, here are a few common mistakes that you should avoid:
1- Not Hiring an Agent
Selling the house on your own is probably the worst mistake you could make. Most of the seller’s don’t hire an agent because of the commission involved. What they don’t realize is that they end up paying more for acquiring the right deal. Real estate agents know the market and also the right marketing techniques. They are capable of minimize your troubles and getting you the perfect deal.
2- Neglecting Minor Defects
Before listing your home, you must take care of the tiny defects like leaking pipes, the scratched paint, etc. These might not look so important but they can surely reduce the price of your deal. Hence, fixing these things ahead of time is highly recommended.
3- Not Marketing Your House
The price of your house is set according to the prevailing rates in the market. Hence it is important to know your market before listing. A home is like a dream and you should market it that way. Apart from the elements of the home, also market the joy of living in the house. Redecorate it if required.
4- Setting an Unrealistic Price
We understand that you are really attached to your home, but the price of it will be set according to a number of factors. Overpricing and underpricing both are harmful for your home sale. So you should not let emotions come in the way of pricing your house. Consult an agent, study the market scenario and then decide.
5- Choosing the Wrong Time to Sell
The timing of your home sale is also important to find you a great deal. The real estate market is a dynamic one and prices keep fluctuating. So, as a seller, you must understand the market trends and the economy to set a price your house deserves.
6- Not Talking About the Neighbourhood
Nobody knows your locality better than you do. So you need to acquaint the potential buyers about the plus sides of the neighbourhood. Tell them that they are buying a life of comfort along with the house since it enjoys such a great location.
7- Not Opting for Full Disclosure
At the time of buying, we expect the builder or agent to be completely honest about the house. But at the time of selling we do not make full disclosure which is wrong. You should be upfront about the imperfections of your house to save money and time.
Read More About…….Things to Keep in Mind while Selling Your House