There are a number of things that you can do to either improve or limit your selling power. And, the choices you make when listing your home can make a great deal of difference in the price you get. To guarantee you receive a smooth transaction and the best price possible, make sure to avoid these 5 costly mistakes when selling your home.
Selling On Your Own
Trying to sell the home on your own can be a big mistake. Without any formal training, it’s likely that you will struggle to understand the contracts, as well as the market data. And if you don’t know what you’re doing, a few small missteps can turn into big costly mistakes. An agent has the expertise to analyze the market, negotiate on your behalf, and get you a fair price. Plus, they have a wide network of professionals available to assist and support you every step along the way. They can also take care of the showings for you so that you can sit back and relax through the entire process.
Skipping The Home Inspection
No matter what you hear from others, before you list your property you should always have your home inspected. This will help to identify any problems in advance so you can repair them immediately or adjust the price to reflect the problem. Trying to hide significant problems will only lead to unfavourable surprises when the home is under contract.
Setting A Price Based On Emotion
Your home is filled with precious memories, along with some serious sweat and tears. To you, it’s priceless and worth every penny, but it’s unlikely that a potential buyer will see it in the same light. So don’t set a price based on emotion. Instead, do the appropriate market analysis to figure out a fair price.
Forgetting To Stage Your Property
If you want to sell your home quickly and for the highest value, you need to stage your property. Buyers need to envision themselves in the home, but it’s difficult to do this when it’s filled with all of your personal belongings. The best way to entice buyers is to design an experience and a lifestyle that will lure them in. If you skip this step, you’ll quickly see a difference in both the length of selling time and the price you receive.
Not Hiring A Lawyer
Purchase and Sale Agreements are long, complex, binding legal documents. They are filled with complicated legal jargon and wordy real estate clauses that can make your head spin. And remember, your home is the biggest investment you make in your life, so you should take the time to ensure that your rights are protected. That’s why you need an experienced lawyer who can review the agreements, address any problems that arise, and help you walk through the transaction process.
Don’t get stuck with costly errors when selling your home. Have a lawyer on your side to ensure that your interests are protected and that the process runs in your favour.