When you live happily for years in your home, it can be very hard to separate yourself from all the memories you have had while living there. You tend to look at your house as a commodity you’re trying to sell. However, no matter how much love you have for your home, you have to spruce it up prior to placing it on the real estate market. To create a smooth transaction experience, make sure to avoid these 8 common home seller mistakes to prevent costly repairs or issues.
- Avoid Skipping Out on a Home Inspection.No matter what the age of your home is, scheduling a home inspection prior to listing your house can save you both time and aggravation. It allows you to address any issues on both your time and budget prior, rather than having to negotiate with your buyer for repairing the issues.
- Avoiding Sales Preparation. A common selling mistake is to “Test the Waters”, and place your home on the market AS-IS. However, if you place your home on the market prior to making any minor repairs, it can cause problems for the reputation of your home. At a bare minimum you should attempt to repaint any necessary areas and have a thorough professional grade cleaning. Any homes sold after the first few weeks tend to lead to lower selling prices.
- Picking the Wrong Realtor. Instead of choosing your realtor based on who your friend or relative says to go with. Make sure you take the time to choose a realtor who has an excellent home listing reputation. Your goal is to get a larger payoff, and listing with the right realtor will help you to achieve this.
- Ignoring Your Curb Appeal. You may have primped and polished all areas of the inside of your home, but don’t forget to paint your door, pull weeds, and other areas on the exterior of your home. Otherwise, you run the risk of running off potential buyers without them ever even entering your home.
- Never Withhold Information to the Buyer Even if the inspector or buyer doesn’t find out about a leak in your bathroom, or that high rains cause your basement to flood, it can cause a lawsuit later after closing. So avoid a nasty negotiation with your buyer and always provide full disclosure.
- Never Overprice Your Home. If you’re unsure what a reasonable price is for your home. Speak with your realtor. If you overprice your home, you’ll typically end up dropping the price multiple times before selling, and in the end it will be similar to the price you should have priced it at in the beginning.
- Always Be Prepared for the Next Step in the Process. Buying your next home and selling your current one are only parts of the selling process. Make sure you are prepared for things moving along quicker or longer than expected. Have a back-up plan for any situation that can arise, such as your home being on the market longer or finding a new home before your home sells. Make sure you understand your mortgage payoff, closing costs, and other expenses you are required to pay.
- Don’t Let Your Kids (or Pets) Spoil Your Home Sale. Buyers want to visualize themselves in the home they are buying. Make sure your house is neat, smells fresh, and has a more neutral look to it, if possible. Have your kids and/or pets out of the house when prospective buyers are present. Buyers can be scared of dogs or allergic to cats. Avoid missing out on a potential offer because of your pet or children.
Selling a home isn’t easy. It can be difficult. However, with the help of a trustworthy and dependable realtor, you can prevent common selling mistakes and benefit from the rewards of selling your home.