Expensive Home-Selling Mistakes And How To Avoid Them

With the mountain of paperwork you need to crunch through, and the perpetually uncertain future of the American housing market, selling your home can feel stressful before you’ve even begun! Your nerves are going to be under a lot of pressure between now and the closing, but it’s essential to keep your head, and do everything you can to maximize equity. Here, we’ll look at some of the most expensive home-selling mistakes people make, and some tips on avoiding them.

Mis-Pricing.  While you might be able to get by with pricing a little over or a little under the market value of your home, over and under pricing can be a massively expensive mistake. It’s absolutely essential to know your market, and become familiar with the comparisons of similar homes that are up for sale in your area (along with ones that have just been sold). This will help you narrow down on the exact price tag your home should enter the market with. Check out a guide to comparable sales, and make sure you understand them thoroughly before pricing.

Neglecting the Necessary Improvements Before the Sale.  No one wants to lose money on their house sale, and this is exactly what will happen if you neglect the necessary improvements your home needs before entering the market. It’s always going to cost you less to make repairs and additions ahead of time, rather than letting house hunters see your property in a state of disrepair. Does your yard have a peeling white picket fence? Get it replaced. Is your HVAC system on the fritz every other day? Hire a professional to repair it. Is there one patch of a room where mold always seems to develop? Get the walls sealed up. Nothing gets past the home inspectors, so do yourself a favor and get these necessary improvements out of the way!

Selling an Empty House.  Selling your home completely empty will make prospective buyers feel… well, empty! Yes, it’s important to make your interiors fairly neutral, so that prospective buyers can visualize their families living there. However, a home should certainly be staged long before the sale. This doesn’t mean you need to rush out and buy a whole home’s worth of furniture and accessories. You’ve likely got enough as it is. The tricky part is deciding which pieces to leave in the house for the viewings, and which to hide away. Luckily, there’s a lot of information on home staging out there, so do your homework!

Failing to Complete the Disclosures.  There are far too many sellers who have had to pay out massively because they failed to complete the necessary disclosures. Make sure you’re always forthcoming and truthful about any issue present in your home, and you’ll be able to save a lot of time and money. This is especially true if the buyers or home inspectors uncover these kinds of issues later in the process. Again, you might get lucky, but it’s really not worth running the risk.

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