Critical Home Selling Mistakes and How to Avoid Them
By Kay Pascale
Selling your home is one of the most important life-changing decisions you will make. Moreover, it’s both personal and financial. The stress of the home-selling process can leave you open to some critical and costly mistakes. This includes putting your house price too high! Here are a few common mistakes and how to avoid them.
Choosing the Wrong Real Estate Agents
The second most ill-advised choice, beyond trying to sell your own house, is the wrong choice of estate agents. As a result, properly vetted estate agents, with proven home-selling experience, can help you with many of the costly legal requirements of property transfer. This helps avoid most of the pitfalls of a poorly marketed home. Therefore, consult several local estate agents and ask how they would market your home. Also, ask for a comparative marketing analysis that would give you the values of houses in your area.
Poor Staging
Part of successful home selling is the attractive staging of the property. In addition, decluttering your home will allow potential buyers to visualize themselves in your home. Putting your extra clutter from the garage, attic, and even some of the main rooms of your home in storage will make your home feel more spacious to the buyer.
Small Upgrades are Necessary for Home Selling
In addition, small upgrades like fresh paint and house repairs are home-selling requirements to secure the best price for your home. The basics of home maintenance give the buyer confidence in your home as their choice. Also, keeping your house picture-perfect and ready at short notice can greatly improve the likelihood of a successful and quick sale. A well-staged house ready to view will get the most potential buyers for your home.
Not having a home inspection
Pricing Your House Too High is a Home-Selling Mistake
Pricing your home too high is one of the costliest and most time-consuming home-selling mistakes. Too high a price can turn off buyers and delay the sale of your home. As a result, each subsequent lowering of your house price will put you in a more vulnerable position in negotiating an optimum sale price.
Not Giving a 90-Day Notice
One of the legal pitfalls that good estate agents can help you avoid is not giving a 90-day notice of cancellation to the bank. This is a costly mistake since it results in a penalty of 1% on the remaining balance on your bond for the full 90 days.
Cancellation Notice of Your Bond – A Home Selling Mistake Often Made
Your bank will freeze your funds once you give a cancellation notice on the bond. Therefore, if you need those funds for a down payment, it could jeopardise the purchase of your new home. The cancelled bond will usually pay out in 10 weeks. Moreover, withdrawing the necessary funds for your purchase before giving a cancellation notice would avoid a costly delay.
In the End
The researched choice of an experienced estate agent will help you avoid critical and costly home-selling mistakes. Therefore, take the time to choose the right agent to give you confidence in their guidance during the sale process. When you’re ready to find your dream home, speak to an experienced agent. Experienced agents will help you sell your current house and move on to your next adventure in life.
Note: Kay Pascale is a real estate writer and will contribute more interesting and informative articles to my blog.
Inspected Once, Inspected Right!®
SEE WHERE I INSPECT IN GAUTENG!
THE HOME DETECTIVE » home inspection blog » Home seller »