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Selling Mistakes
1. Putting your home on the market before it's ready
Make sure any necessary home improvements are made before putting your home on the market. You only get one chance to make a first impression, and letting impatience or procrastination get the better of you can get in the way of a successful sale.
2. Over improving for the area
Additions, upgrades, and cosmetic enhancements are typically considered to be a great idea. Where sellers get into trouble is when they do it to the extent that the home sticks out too much from the competition. At that point, the home becomes an anomaly, and may not get as high of an offer as the home deserves (because the comparable homes in the area won't support it).
3. Seller motivated pricing
Pricing a home based on what a seller wants to net versus what the market can reasonably bear is bound to end in disappointment. Sellers may control "asking price", but the "sales price" is controlled by one thing - the market. Aiming for a realistic number can prove to be a more successful strategy.
4. Hiring an agent based on personal reasons
Selling your home is a big financial move, so it only makes sense to hire a qualified professional with a proven track record. Basing your agent choice on personal relationships (like a family relative who just got their license) may seem like a good idea, but make sure that they have a mentor on board to keep the deal on the right path.
5. Getting emotionally involved
A home is large purchase, and unless you make a habit of moving every year, growing attached to the place you call home is a natural occurrence. When selling your home, however, it's best to view it as a commodity, not a place to hang your hat. Potential buyers may come in to "kick the tires" so to speak, and may not fully recognize all of the great features you feel your home provides.
6. Not disclosing problems with your home
Trying to cover up problems with your home during the selling process is not only dishonest, but can be legally disputed. Many states offer a property disclosure form to indicate any issues with the property to the potential buyer - use it wisely, and protect yourself from future problems.
7. Not being prepared
Financing, researching the current market, and going over paperwork are necessary parts of the selling process, and should be treated as such. Not keeping on top of it can lead to costly mistakes and headaches. Consult with qualified professionals and publications to help avoid the pitfalls, and you will be well on your way to selling your home.
