When you decide to sell your house, most people think that it is enough to advertise the sale and wait for the best offer. However, in reality, it is not even close to that. It takes a lot more effort than you think. A very complex process where you will invest money, time, and you have to be patient, otherwise, you will lose a lot of nerves. It can also be emotionally challenging. So we will help you avoid the most common mistakes when selling your house.
Interference of emotions
Home is something for which we are bound by many memories. For this reason, it is not easy to separate from your home, even though it is an inanimate object, people are often very emotionally connected to it and this can make it difficult for them to sell. Especially if important things happened there like the birth of a child or it is the first common home of your family. So you have to understand that selling a home is a business that you have to finish and treat the whole process that way. Don’t be sentimental, otherwise, it will cause you a lot of problems.
Overlook the costs that await you
There are many hidden costs waiting for you. Everyone is aware that they have to pay real estate agent their share, but they forget that there are many other costs as well. Bills that you have not paid, then home repairs to increase market value and much more can affect the accumulation of costs. So be realistic and calculate in advance what you will have to spend the money on. Be prepared for it to be almost ten percent of the value of the house. Also, not all costs have to be related to the house you are selling. You may have to pay storage for things until you move into a new home and the like. So it is better to calculate that you need more money so that you have a surplus than that you do not have enough to cover all expenses.
Of course everyone wants to get as much money as possible. The solution is by no means to sell below the price and lose tens of thousands of dollars, but it is also not good to put an unrealistically high price and no buyer to be interested. Fair market value is something that everyone will tell you is the most important thing when setting a price.
Because the real price and market value are not always the same. A lot of things affect. For example, whether it is urgent for you to sell or not. If you are in a hurry to sell it, then you should not even look for a buyer, but you should sell it to one of the companies, such as Four 19 Properties, which deals with buying houses. That way you will get the most money you can get in a short period of time. Then how urgent it is for the buyer to buy. Research the internet how much similar houses cost in your area, but let that be your orientation. You will set the ideal price only when you know all the aspects.
Advertising in the low season
The real estate market has its high season and low season. The colder it is, meaning late fall and winter, the less interest there is. No one wants to move in the snow and rain. That is why it is by no means an ideal period of years to start this process. Start in early spring. Then you will have all spring and summer to find the ideal buyer. If you advertise in the winter, there is a high probability that you will only lose money by paying for advertising, and that no customer will respond.
Ignoring necessary repairs
Many homeowners ignore all the necessary repairs that need to be done and hope that the potential buyer will not notice them. This is a completely wrong tactic. First, if he finds out that you tried to cheat on him, it is very likely that he will not want to do business with you. Or he will use it as a tactic to significantly lower the price. So don’t let anything remain broken. Fix every little thing and don’t save money on it. Do everything you can yourself, and call a repairman for the rest. If this seems like a big and unnecessary expense to you at the moment, chances are you will end up earning even more just because of it. And even if you do not earn more than the original asking price, it is certain that you will find a buyer faster.
Wrongly decorated house for buyers who want to see it
One of the biggest mistakes you can make is to leave the house the same as it was while you lived in it. In this way, the potential buyer will be unable to imagine himself in it. It will seem too personal to him, too connected to you and he may not like it for that reason alone. Put away all personal items like photos, fridge magnets and everything else that is personal.
It is necessary to do depersonalization. It can be an emotionally difficult job, as we said at the beginning, but it is absolutely necessary. Make it neutral so that the customer can imagine how he turns it into his own home. Also, everything must be in order. A mess around the house can create a bad image and leave the impression of a place that is not in the best condition, and this may not be true at all, but only a momentary impression.
Refusing to negotiate
We know you want the price you asked for in the ad. You think it’s a realistic price and you know why you put it in the first place. But don’t be stubborn and refuse to negotiate. Of course you should not lower the price too much and you should not negotiate if the price is already significantly lowered compared to the original. But if someone is asking for a small discount, and it seems like a reliable buyer, then you should meet his request. In this way you will speed up the whole process and still get a realistic price.
Get ready for a long and complicated process, because selling a house is one of the great milestones of life, as is buying as well. So don’t make some of these most common mistakes.