realthienkhoi
Are you planning to sell your home soon? Whether you’re looking to downsize, move or just take advantage of the hot housing market, you’ll want to avoid the mistakes that can lead to lost money, time and hassle. You don’t need to stress this process any more than necessary or sell for less than the value of your home.
Selling your home is not an easy process in terms of the real logistics and emotional connection you often have with your home. After all, according to the Zillow Group’s 2021 Consumer Housing Trends Report, the average seller reported living in their home for about 14 years before selling. While most sales don’t go 100% smoothly, there are a few common home selling mistakes you can avoid to make the process less stressful and emotional.
These are mistakes to avoid when selling your home
You don’t work with the proper agents.
The real estate agent you choose to work with can make or break your home selling experience. A good agent will be able to walk you through every step of optimizing your home for sale and not let you avoid the other mistakes on that list. But if you work with someone who doesn’t communicate well or doesn’t value your sales as highly as you do, you’re missing out on an opportunity to have a strong advocate on the court. Finding a good real estate agent starts with research. Don’t just use the names that come up in a Google search, ask for recommendations from friends and family in your area, read reviews, talk to a few agents, and then choose who to hire. Because the longer a home has been on the market, the lower the perceived value, it is advisable to choose the best agent in advance, not replacing the agent after the home is already on the market.
Neglect repairs.
If you neglect to renovate your home before the sale, not only will you lose your appeal to a buyer, but you may also face the additional costs associated with a buyer’s inspection. If you don’t disclose what needs repairing, the closing process could be interrupted or the transaction could be lost. Consider doing a pre-inspection to make sure everything is open before the sale.
Set unrealistic prices
Whether you’re working with an agent or alone, setting the right price is key. Do you remember doing a comparative market analysis when you or your agent was buying a home to determine a fair asking price? As a seller, you need to be one step ahead of them because buyers will do that for your home as well.
Refuses to clean and tidy.
Potential buyers want to walk through your home and imagine it’s their home. Unfortunately, if it’s a mess or they’re distracted by an abundance of family photos of other people and personal items, it’s hard to do.
“Sellers underestimate the value of a home that doesn’t have a speck of dust in it,” Cole says. “A clean, dirty house raises prices in the minds of buyers. They can imagine themselves living there. They have more peace of mind, and it encourages them to make firmer decisions to move forward.”
Sell at the wrong time.
Depending on the time of sale, the price you can get can vary greatly. In most regions, the best time to sell during the year is the second half of April. During this period, a typical U.S. listed home sold for $9,300 more than the average for that year. Keep this in mind when choosing the best time to sell in your area, as the weather can affect the sales period in your city.
Another time-related issue you want to keep in mind is more about how long you’ve owned your home than the months of the year. To avoid transferable income tax on the sale of your primary residence, you must have lived in the house for at least two of the last five years.
Sell when your secured credit is upside down.
What if the money you owe on your home exceeds its value? This is called finding upside down, in the water, or negative equity in your home. If you sell it, you won’t make enough money to cover the mortgage or the agent’s commission (or both). Reaching break-even on home sales is at least better, but still not better.
Either way, don’t sell unless you need to avoid bankruptcy or foreclosure. There are other ways to deal with underwater mortgages. But usually the best option is to stay home and work hard to increase your rates before you sell.
Your home is not a non-personal home.
Buyers should be able to see themselves living in your home. If they walk in and see your family photos in the refrigerator or a stack of mail on the table at the front door, they will have trouble forming their own personal relationships. De-personalizing is an important step that salespeople often ignore. Because they’re still living in the house, it can seem odd to remove all the little things that make them feel at home. But home sales are as much about psychology as they are about proper pricing and marketing. Failing to get rid of those things that suggest to buyers that this is your home and not theirs is one of the most common and damaging mistakes in home sales.
Allow your emotions to dominate
Selling your home is the act of learning to leave it alone. When you know you are ready to sell, you should be able to see it with an objective eye. This allows you to approach conversations with agents from a neutral perspective and find the best way to sell your home. If you are too emotionally attached, you may find it difficult to negotiate with your agent. In general, emotions can cloud judgment and make it even more difficult to complete a successful transaction. If you have trouble expressing your feelings, seek advice from your agent.
omit the list of photos.
Nowadays, many buyers are looking for homes online, and many of these homes have pictures, so if you don’t have high quality visual material for your home, you will really suffer. At the same time, there are too many photos of a home for sale that will hopefully help the listing stand out and generate additional interest.
Good photos should be clear and uncluttered and taken during the day with adequate natural light. They should show off the best features of your home. Use wide-angle lenses if possible. This gives potential buyers a better idea of what the whole room looks like. Ideally, instead of having agents take pictures on your phone, hire a professional real estate photographer to get the highest quality results.
Limit the number of showings.
The idea of letting strangers view your home while you’re still living in it makes some sellers very reluctant. Some people limit the number of shows to minimize leg tying, and some people who are always busy don’t have much time to use their homes for shows. Whatever the reason, a home with a disability won’t attract the best offerings, Cole says. Try to be open to visitors and do your best to make sure you have room in your schedule to accommodate buyers. After all, the more people see a home, the more people want to buy it.
Failure to prepare and dissect.
It takes a lot of time and money to put in the effort to make your home look its best before you list, especially since buyers can make an offer just by looking at the screen. In fact, nearly 60 percent of millennials said in a Zillow survey published last year that they would have any confidence in making an offer on a home after a 3D virtual tour.
Refuse to negotiate.
By approaching a buyer’s offer coldly, you may miss an opportunity. It’s important to work closely with your agent before an offer is made to determine your expectations and the terms you are willing to negotiate. This allows you to quickly determine when a suitable offer appears. If you don’t want to negotiate, it can force buyers to walk away and leave potential deals on the table.
He didn’t have proper insurance.
The borrower may have required homeowners insurance. If not, you will want to make sure that you are insured for accidents on the property and try to sue for damages. You should also take steps such as making sure there is no obvious danger to the property, banning potential buyers’ children from the pool, and letting the dog out of the house during the show.
GIPHY App Key not set. Please check settings