Eight Costly Home Seller Mistakes
When you choose to sell your home, there are many things that you need to consider before you put it up on the market. We all think our house is a perfect 10 but small improvement and upgrades can make a huge difference to the final price that you get from the buyer. Sell by owner homes need a tad more attention so that they can make up for the lack of knowledge and avoid these costly mistakes.
1. Not taking home inspection seriously
To schedule your home for a prelisting home inspection can save you a lot of time and hassle later. The home inspector will evaluate your house thoroughly and provide you a comprehensive report in the end that can reveal potential vulnerable areas. This will give you time to get it fixed in time or negotiate it with the buyer.
2. Half hearted Renovation and Remodeling
How do you sell a house by owner is the most frequently asked question by sellers that avoid hiring brokers or realtors. Sometime they are not able to get the price they are expecting and frantically search online for the reasons why. When you put your home on the market for sale, you need to ensure that your house is perfect home for someone. Don’t cheap out on renovation of the house as it gives out a bad first impression. In the process, you can lose many potential buyers and earn bad reputation that can hamper the sale of your house.
3. Hiring the wrong agent
This can be one of the most expensive mistakes by the homeowner to invest in a broker who isn’t worth the buck. Always look for agents with a reputation or excellent references to do your job. If you are worried about the high commission costs of these reputed agents then you can consider flat fee real estate broker who will charge you a pre-decided fee and not the commission from the sales. You need to be visible clearly when people are looking for where to find houses for sale by owner on the internet. Your flat fee agent will help in listing your property for sale on the MLS without taking any other service from him. This can help you get the expert assistance for a much reasonable price.
4. Overlooking the façade
Many people end up refurbishing the interiors when the exterior of their homes need just as much attention. Don’t neglect the curb appeal and leave the grass and foliage at their own mercy. You are not selling a portion but a complete property so it deserves full attention from every corner.
5. Withholding crucial information from buyers
The issues in your house will be visible sooner or later and can also result in expensive lawsuit due to misleading information when selling your house. This is the reason it is advisable to be upfront about any major issues that your house currently has or had in the past.
6. Overestimating the cost of your home
Our house will always be precious to us but when you are evaluating your property, you need to be reasonable. You need to take the help of real estate experts and conduct a detailed analysis to be able to come up with accurate price for your property. You would be eliminating many serious buyers by overvaluing your property and may have to sell it for a lot lesser than it could have actually fetched.
7. Always have a Plan B in place
As much as we would like our lives to follow a planned trajectory, it never goes as per our preparation. Selling/buying properties may take its time. You can sell your house as soon as it hits the market or it can stay there for a while until you start to generate enough interest. In either case, you should have a plan B ready so that you can take a quick action.
8. Keep your kids and pet in check
Don’t allow your kids or the pets to spoil the house at any given time. It can really put off the potential buyers and risk the whole deal.