Getting too emotional
Think it’s impossible? It’s actually not. Once you decide to sell your home, start thinking of yourself as a business person and salesman rather than just the homeowner. In fact, forget that you’re the homeowner altogether. By looking at the transaction from a purely financial perspective, you’ll distance yourself from the emotional aspects of selling the property.
Setting an unrealistic price
Whether you’re working with an agent or going it alone, setting the right asking price is key. Remember the comparable market analysis you or your agent did when you bought your home to determine a fair offering price? Buyers will do this for your home too. As a seller, you should be one step ahead of them. You may think your home is worth more, but remember to set a realistic price based on comparable homes in the area. Absent a housing bubble, overpriced homes generally don’t sell.
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 will reduce your sale price and may also prevent you from getting a sale at all. If you haven’t attended to minor issues like a broken door knob, a potential buyer may wonder whether the house has a larger & costlier issue that hasn’t been addressed as well. Have a friend or agent come, someone with a fresh pair of eyes, point out areas of your home that need work. Because of your familiarity with the home, you may be immune to it’s trouble spots. Decluttering and cleaning thoroughly, putting a fresh coat of paint on the walls, and getting rid of any odors will also help you to make a good impression on your buyers.
Hiding major problems
Any problem will be uncovered during the buyers inspection. You can fix the problem ahead of time, or price the property below market value to account for it. Alternatively, you can list the property at a normal price and offer the buyer a credit to fix the problem. Remember: if you don’t fix the problem in advance, you may eliminate a fair number of buyers who want a turn key home. Having your home inspected before listing is a good idea if you want to avoid costly surprises once the house is under contract.
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