Selling your house is a major milestone, but it can also be quite complicated. With the complexity of the selling process and the huge emotional transaction you have to go through, home sellers can make mistakes. However, with just a bit of know-how, you can avoid these pitfalls. Here are some common mistakes when selling your house, and how you can avoid them.
Underestimate the Cost of Selling
Selling your house is exciting, but don’t think that the buyer is the only one who has to prepare for expenses. You do too! Don’t let home selling costs catch you by surprise. Here are some to keep in mind:
- Agent commissions: Agents are here to help you out, so when your home sells, they get 5-6% of your home price.
- Closing costs: A seller’s share of the closing costs is usually 1-3% of the home price. The costs could include sales tax, a title transfer fee, and a fee for whoever organizes the final transaction on closing day.
- Home inspection repairs: If you want to be on you’re A-game, spending a few hundred bucks for a home inspection before you even list it is a smart move.
- Moving expenses: Did you forget? You’re moving too! Hiring movers can be costly, and if you’re not moving directly into your new home after selling your old one, you’ll need to account for rental and storage fees.
Pricing your home can be a tricky thing, but it goes without saying that setting the right price is key. If you price low, you might think it will attract multiple buyers and lead to a quick sale. But lowballing your home might mean you get an offer, sign off, and then you’ll have to obligate that price (even if you find out your home is worth $50,000 more). If you think your house is worth a large sum, you could turn away serious buyers or run the risk of wasting months of your time before you reduce the price.
Don’t trust the internet to price your home. Ask a real estate agent for a comparative market analysis. This will show how much homes like yours are selling in the area.
Not Preparing Your Home
A cleaner, clutter-free, well-decorated space is going to appeal more to buyers and help with selling your house faster. In fact, staged homes sell 88% faster than those that aren’t, according to Realtor.com.
You don’t need to hire professionals though. There are many things you can do by yourself. Decluttering, cleaning thoroughly, and putting a fresh coat of paint on the walls help you make a good impression on buyers. And don’t forget, the outside of your home is setting the stage for what’s inside, so don’t forget to show it some love too!
Not Accommodating Buyers
It’s hard to juggle selling your house with other things going on in your life, but if someone wants to view your house, you need to accommodate them. It might be an inconvenience for you, but sacrifices need to be made if you want your home off your hands. And yes, your house needs to be clean and ready to go for every single visit.
It may seem like a lot of work, but keep your eyes on the prize. A real estate agent will have your back if you have a full-time job because they’re available to show the house any time of day.
Choosing the Wrong Agent
When working with an agent, make sure you choose one that has your best interest at heart. Make sure to discuss with them their marketing plan for your home, how they plan to communicate with you, and any specific needs for selling your house.
Finding the right real estate agent can be intimidating, but our agents at Crowe Realty are here to make selling your home easy and worry-free. Based in the Montrose, Colorado area, we’re dedicated to selling your home and are happy to guide you through the entire process.