Selling a home can involve a herculean of emotions; it can be exciting and intimidating at the same time. Moving to a new home and earning some extra bucks can fill your heart with excitement. On the other hand, it may be a time-consuming and emotionally challenging experience. Strangers will pop suddenly to check your beloved home that you have become emotionally attached with over the years. They might fill you with rage when they end up criticizing your home and offering much less than what you expected. That’s where we come in! Trust us if you want to buy a house in Corpus Christi, TX.
Whether you are moving to a bigger or smaller home, selling your home can be a big move, especially for first-time sellers. With the emotional turbulence, you can easily make mistakes that could derail your sale. With a little preparation, you can avoid these pitfalls and the unnecessary headache that they can cause. Beware of these common mistakes so that you can get the best deal within a reasonable time frame without any hassles.
We have listed a few mistakes that you must avoid when selling your home:
1. Don’t let your emotions rule over you
Selling your home for the first time can be an emotional turmoil; many people find it difficult to keep their emotions in check when it’s time to say goodbye. Let’s face it! You may have put your heart and soul into buying and keeping your home. You have spent a good part of your life in your home and therefore there are many sentimental values attached to this place. But when you are selling your home, you have to think of it as a piece of property.
Unless you keep your emotions at bay, selling your home can be a difficult task. When staging your home and negotiating the price, you have to forget that you are the homeowner. You have to start thinking from the financial perspective as selling a home is purely business.
The sooner you accept it, the better it is going to be. How did you feel when you were home-hunting? Step into the buyer’s shoes; you will instantly put in more effort in staging your home so that you can get the top price. The efforts you put in minor remodeling will not only revamp the appearance of your home but will also help in detaching you as your home might look less familiar.
2. Not hiring a real estate agent
Homeowners may get tempted to save dollars by not hiring real estate agents. Real estate agents come with a price, which is usually a commission that ranges from 5 to 6% of the price you sell your home. When you see adverts by homeowners online or FSBO signs outside their home, it may tempt you to try out the stint by yourself. Don’t get into this pitfall, especially if you are a first-timer; you may end up spending more in the end. It is observed that agent-listed homes fetch a far higher price than a typical FSBO home.
A good realtor will always have your best interest at heart. Plus they have the right market knowledge that plays a crucial role in setting a competitive selling price and speeding up the sale. Let’s say you don’t hire an agent; in that case, you will have to answer all the calls, stage your home, manage negotiations and answer all mortgage questions.
There are tons of real estate professionals; interview your agent before hiring him. If at all, you feel that the way they are asking you to sell your home doesn’t suit your style or belief, swap them for another option.
3. Under/Overpricing your home
Whether you choose to hire a real estate agent or sell your home alone, setting an unrealistic price can be a huge mistake. A real estate agent will perform a comparative market analysis, comparing the price of homes recently sold in your vicinity. With this information, they will give a realistic value your home should sell for. To be safe, you can even hire a professional appraiser to assess the value of your asset before you decide on your asking price. If you under-price your home, you will end up losing thousands, while overpriced homes generally don’t sell as they scare away potential buyers. Another valid reason for the non-real estate savvy seller to hire an agent! When the seller approaches us saying “I want to sell my house fast in Corpus Christi“, we advise them with the precise market value for their home.
4. Not disclosing major problems
When you put up your home for sale in the market, trying to keep your home’s history a secret could cost you the sale. A fresh coat of paint may elevate the appearance of your home, but a smart buyer will never finalize the deal before getting your home inspected. Inspectors investigate every nook and cranny to uncover any significant problems. It is sensible to get your home inspected before you put it up for sale as once it is on contract, you might be in for some expensive surprises. In addition to this, you may also end up violating the disclosure rule that is followed by many states.
Don’t push any major repairs under the rug; addressing any glaring issues will save you from headaches during negotiations. You have two ways to deal with faults in your home; fix the problem or reduce your property price to account for the problems.
5. Selling your home before it is ready
Home staging is very crucial when it comes to showing off your home’s beauty and charm. A home that is cleaner, decluttered, and well-decorated screams a dream home to potential buyers. Also, pay close attention to the home’s exterior as the curb appeal gives a clear picture of what’s inside. Such homes appeal to the buyer as they can instantly connect with it; staged homes sell much faster than homes that are not.
We know that it can be difficult to manage if you are living in the home that you want to sell. But if your home is disorganized or is not in a well-maintained condition, buyers can get skeptical about their decision. A word of caution: don’t go to the extreme in customizing your home. The amount you spend on renovation does not equate to raising the price you want for your home by the same amount.
You need to accommodate buyers if they want to view your home, although it may be inconvenient for you. So you will have to be prepared all the time; no excuses will work. We know it can be taxing, but keep the reward in mind.
6. Underestimating the selling price
People usually think that they will have to spend around 5-6% on the agent as a commission for selling their home. They forget to add on the closing costs, repairs, and other concessions they will offer the buyer. All these sum up to 10% of the sale price. After you pen down all that you will be spending, estimate your net proceeds. It is the amount you will pocket after the selling costs are deducted. Having a clear idea before the listing can enable you to choose the best alternative to sell your home and can also give you an idea of how much you can afford to spend on your next house.
7. Negligence with photo listing
We are living in a tech-savvy world, where many buyers look for their homes online. Uploading good visuals for your home can help your home to get the spotlight. Poor home photos can be a put-off for buyers; take crisp and clear pictures during daytime with ample natural light. You can entice more buyers to walk through your doors if you showcase your home’s best assets wisely. You can add more value to your home by including a video tour along with photos. If you are relying on this technique to attract sellers, it may be worthwhile to hire a professional real estate photographer.
8. Selling your home during the winter months
During the winter months, people are usually busy with social commitments and the weather makes it more appealing for them to spend time at home. Due to this, there is a drop in home sales and you may not procure the desired price. While there is a dearth of active buyers in the winter months, you will be facing much lesser competition as there are fewer houses for sale in Corpus Christi. It can work in your favor, getting you the best deal.
Barring any dire circumstances, wait to list your home till the weather begins to warm up. For those who want to sell houses for cash, the Grahambelle Group is ready to reciprocate. Contact us to learn how selling a house for cash works.
Do you want the home selling process to be smooth and painless? If you know these home selling mistakes that you must avoid, it can save you from a lot of heartache and headache. Prepare yourself both mentally and financially for this crucial time in your life, for any unexpected scenario that may crop in the process. Put your best foot forward and achieve that seamless, lucrative sale by avoiding these costly mistakes.