Are you thinking about selling a house? Are you wondering how you can avoid some common mistakes?
The cost of selling a house can be far outweighed by the payoff if you’re careful. You can maximize your profit and use it to move on to the next phase of your life, whether you’re upgrading, downsizing, or simply starting a new chapter.
If you’ve never sold a house before, you’ll want to do a little research first.
Here are some common mistakes you’ll want to avoid.
1. Selling in the Winter
The best time to sell a house is when the weather’s warmer. Folks are more likely to go for a drive and walk in and out of houses when it isn’t so unpleasant to go outside. If you try to sell in winter, chances are you’ll attract fewer buyers and end up getting a lower offer.
The spring gives visitors a chance to view your landscape when everything is coming into full bloom. They’ll also have time to move in before the school year starts.
2. Asking Too Much or Too Little
In a seller’s market, it can be tempting to ask too much for your home. If you’re using a real estate agent, they can provide you with “comps,” or information on comparable houses that have sold in your neighborhood. They will use these to assess a reasonable asking price.
If you’re selling your home yourself, you’ll want to make sure you take a look at recent sales in your area using the Internet. You’ll need to be careful, however.
Some homes will have features such as a new kitchen or deck that made it easier to sell their homes for more. Or they may be on a more desirable block. Make sure you take as many factors as possible into consideration when choosing an asking price.
On the other hand, you could ask too little for your home and end up walking away with less than an ideal profit. You may have put a lot of time and money into your home. It’s a big investment that should yield some payoff.
Before deciding on an asking price, it’s important to do your research. You want to be confident that what you’re asking for is both reasonable for the buyer and a good deal for you.
3. Not Getting Professional Help
Real estate agents typically charge around 6% of a home sale price. This may initially seem like a big investment.
However, real estate agents can help with a number of daunting tasks that you may have trouble with if you’ve never sold a property before. These include determining a fair sales price, negotiating with prospective buyers, and listing your home on the right websites. They also have contacts such as professional photographers and lawyers who can help make sure the job gets done right.
Real estate agents will know how to market and stage your home, as well as get the deal closed. If you don’t hire one, you’ll need to sign up for various websites, show your home yourself, and negotiate with buyers. This can all be quite overwhelming and time-consuming.
Those with experience in home buying and selling will have an advantage when it comes to selling their home on their own. If, however, you are a little stressed out at the prospect, it pays to get a professional on your side.
4. Hiding Bigger Problems
It can be tempting to try to hide major repair problems from prospective buyers. These could include mechanical failures, wiring problems, or issues with your sewer lines.
However, these problems will likely get uncovered during your inspection, and you could lose your buyer. There’s also the possibility that you could be violating your state’s disclosure rules.
If your home has a major problem, don’t wait for an inspection to reveal it. You can list your home for a lower price, fix the problem ahead of time, or offer to give the buyer credit for the repair.
5. Not Sprucing Up
Your home will not look inviting to prospective buyers if it’s full of clutter. Make sure to clean up any paper or clothes piles before anyone visits.
Other problems, such as a burnt-out lightbulb or strange odor, may seem small to you. However, they can be a real turn-off to buyers. Make sure to take the time to neaten your home up before anyone comes to visit.
Some folks have a lot and plan on moving to a bigger place. If that’s the case, see if you can move some of your things into storage or a relative’s basement until the house is sold. Your house should look spacious and tidy to prospective buyers.
6. Limiting Showings
You won’t be able to sell your home quickly and for a good price if you aren’t letting folks in for showings. Do everything you can to make it available when serious buyers are interested.
If necessary, pack up your car and go for a drive or to a friend’s house to make sure your agent can show the home on the weekends. Selling should be a priority until you’ve got a deal.
Selling a House
Selling a house can be tricky, especially if it’s the first time you’re doing it. However, with the right approach and the right agent, you could be on your way to the next step in your life in no time.
Don’t stop getting smart about home selling now. For more information on getting a good price for hard-to-sell homes, contact us today.