Ready to sell your home? Get started on the right foot. Check out these 7 common pitfalls to avoid when selling your home!
Selling your home is an exciting time in your life. It marks the end of one chapter and the beginning of another. However, selling your home is a process with multiple steps involved. A misstep during the process can significantly prolong the time it takes to find a buyer and the closing process. Also, a mistake during the selling process can negatively affect your end profit. Let’s take a look at 7 pitfalls to avoid when selling your home.
1. Unaware of the True Cost of Selling
Before you settle on an initial listing price for your home, be sure that you understand the true cost of selling. Your Realtor can ensure you are aware of all costs associated with selling your home. Here are the most common costs:
- Realtor commission
- Home repairs
- Staging costs
- Property taxes
- Full or partial closing costs
2. Setting Your Listing Price Too High or Too Low
The sentimental value your home holds can cause you to have an inflated sense of its worth. This is understandable. After all, your house holds invaluable memories with your family and friends. Unfortunately, the sentimental value cannot be calculated into the listing value. The key is to find the price that the market is willing to pay without asking too much or too little. A high listing price means your home may sit on the market for a long period of time. On the other hand, you will sell your home quickly if you set the price too low. However, you will also leave money on the table. Want to know what your home is worth? Find out with our Instant Home Value Calculator!
3. Failing to Consider All Offers
Many sellers fall into the trap of only considering the highest offer on the table. The highest offer is the best. This is not always the case. Oftentimes, the highest offer comes with contingencies that may prolong closing or cost you even more money. For example, the sale may be contingent on certain home repairs being made, or the buyer’s current home must sell first. It is in your best interest to consider all offers, as lower offers may come without contingencies that put more money in your pocket and shorten the closing process.
4. Overlooking Home Repairs
The majority of home buyers have a home inspection done before closing on a home. Failing to fix major issues before putting your home on the market will cost you. Any issues or needed repairs will be found during a home inspection. More than likely, the sale will then become contingent on the needed repairs taking place (at the seller’s cost), or the buyer may choose to pull out of the sale altogether.
5. Not Allowing Access to the Home
Homebuyers will not make an offer on your home without seeing it first. Make sure your home is as accessible. Work with your real estate agent to coordinate as many showings as possible. Be willing to make yourself scarce for a few hours for impromptu showings or entire weekends for open houses. The bottom line is that if potential buyers cannot see your home, it will not sell.
6. Failing to Stage Your Home
Many sellers choose to forego staging their home because they do not want the added expense. However, this is a costly mistake. Staging your home allows potential buyers to visualize your home as their home. In fact, taking the time to stage can not only help your home sell faster but for more money. The best news is that you do not have to pay for staging your home. Gitta is a certified home stager, and when you choose to list with Gitta Sells, you will receive complimentary staging of your home.
7. Selling Without a Realtor
It is never advisable to sell your home without a trusted Realtor. A reputable Realtor will advise you on things you can do to make sure your home is in tip-top shape to sell. He or she will help you set a price that will help you sell your home in the shortest amount of time possible for the most amount of money.
A Realtor can also successfully negotiate deals and navigate any legal issues that may crop up along the way.
These are the most crucial pitfalls to avoid when selling your home. When you partner with the most trusted Realtor in Lake Mary, you can rest assured that the Gitta Sells team will handle all of the leg-work so that you have a seamless and enjoyable experience. Feel free to contact us at firstname.lastname@example.org or 407-330-2181 with any questions you may have!