Mistakes You Should Avoid Before Selling Your Home
Selling your home is a big challenge financially and emotionally as well. Especially when you are selling the property for the very first time. When you’re selling your home, all you need to do is get a proper listing, repair, find a buyer, close the sale, and next, move to a new apartment. You may have to face many challenges. But if you do it in the right way then it can be somehow easy for you.
Here, is a list of common mistakes you should avoid
Selling it by yourself-
Selling it by not using any real estate agent is one of the most common mistakes. Not using a real estate agent, or going the “For Sale by Owner” (FSBO) route, is a massive home-selling mistake. Do you save yourself from paying a commission to an agent? Sure. But you could miss the chance to make a whole lot more money. Having a professional way of selling it can give you a lot of benefits from saving your money and not having to pay a real estate agent.
Pricing it wrong
Pricing a home can be tricky! If you price it too low, you could miss out on thousands of dollars in profit. Price is too high and you could turn away serious buyers or run the risk of wasting weeks or months before you have to reduce the price to get an offer.
Don’t trust the internet. Ask a real estate agent for a Comparative Market Analysis that will show you how much homes like yours are selling for in your area. Setting the right price from the start can make all the difference in how quickly you sell your home and how much money ends up in your pocket at the closing table.
Expecting the Asking Price
Any smart buyer will negotiate, and if you want to complete the sale, you may have to play ball. Most people want to list their homes at a price that will attract buyers while still leaving some breathing room for Negotiations—the opposite of the underpricing strategy described above. This may work, allowing the buyer to feel like they are getting good value while allowing you to get the amount of money you need from the sale.
Skimping on Listing Photos
Because so many buyers look for homes online these days, and so many of those homes have photos, you’ll be doing yourself a real disservice if you don’t have any visuals of your home. 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.
And don’t just stop at photos. Consider adding a video tour or 360-degree view to further enhance your listing. This can be easily done with any smartphone. You can certainly entice more potential buyers into walking through your doors for showings. You may even get more offers if you give them an introductory walk-through of your property.
Not preparing for the sale
Sellers who do not clean and stage their homes throw money down the drain. Don’t worry if you can’t afford to hire a professional. There are many things you can do on your own. Failing to do these things can reduce your sales price and may also prevent you from getting a sale at all. If you haven’t attended to minor issues, such as a broken doorknob or dripping faucet, a potential buyer may wonder whether the house has larger, costlier issues that haven’t been addressed either.
Should You Sell Your Home for Cash?
Selling a home for cash is a quick way to avoid the hassle and stress of staging a house, showing it, making repairs, and juggling competing offers. That means someone selling a $100k home that needs $30k in repairs can expect offers around $45k from cash buyers.8 Selling a home for cash is easier, but at a significant financial cost that should be considered
The Bottom Line
Learning how to sell a house is crucial. Make sure you prepare mentally and financially for less-than-ideal scenarios, even if you don’t make any of these mistakes. The house may sit on the market for far longer than you expect, especially in a declining market. If you can’t find a buyer in time, you may end up trying to pay two mortgages, having to rent your home out until you can find a buyer, or, in dire situations, in foreclosure.
How Can Getezo Help?
Getezo is one of the largest upcoming online marketplaces in India, which you can access from almost anywhere. Find out the best Homes at Getezo. The page takes you to a location where a list of the Homes will be shown. Choose the option which suits you the best.
Read More: Things to keep in mind while Buying a Home
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