After spending years in a particular residence, you might find feel the urge to sell it. Whether you’re changing towns or moving to a more spacious house, selling a home isn’t a straightforward process. Besides the logistical issues, you might be sentimental, which gives you second thoughts about your decision.
These challenges usually lead to mistakes that impede the selling process entirely or see you dispose of your property at a throwaway price. Fortunately, most of them are avoidable.
Here are the things to consider when selling a home for the first time.
The most common mistake when selling a home is overpricing. When setting a price, go for an amount that resonates with the local market without compromising your profit.
Overpricing has numerous adverse effects. First, it deters potential buyers from making offers. Second, it makes the property stay longer in the market, increasing buyers’ bargaining power. Eventually, you’re forced to sell the house at an amount lower than your initial target.
The best way to avoid overpricing is by hiring a realtor to do a comparative market analysis. This gives you an approximate value of your property based on its location and condition. Most agents offer this service for free.
Alternatively, you can take the DIY approach. Here, you survey similar properties within your neighbourhood that are recently sold or on sale. Their average value will help you set the right price for yours.
As mentioned earlier, fondness is often a detractor when selling a home. Because of the attachment to your house, your living spaces likely have several photos, decorations, and unique items. While these might appeal to you, potential buyers might not feel the same.
One of the secrets to selling a house faster is making it neutral. Remember that buyers want to envisage the space as theirs, not yours. For this reason, it’s vital to remove any personal items when decluttering your home.
It helps to be honest when selling your home. Sometimes, the house might have issues that aren’t easily noticeable. These include recent repairs and irreparable elements on the property. It’s advisable to add these to the seller’s disclosure.
Failing to indicate the issues can work against you when the buyer reads the inspection report. They might demand you to lower the asking price or cancel the deal entirely. Even worse, you might face a lawsuit if the buyer learns of your dishonesty after moving into the house.
Quality Listing Photos
The busy nature of modern life compels people to do business online, including property searches. If you want to sell your home fast, it’s wise to have high-quality photos. Having zero or low-quality images is a great disservice to your selling plans.
You can make it better by shooting a panoramic video using your smartphone. Ensure that you capture multiple angles of the property’s interior and exterior. Preferably, you should take photos during the day and under well-lit conditions.
Every homeowner desires to get the best possible value when selling their property. Unfortunately, this doesn’t always happen, as some commit the avoidable mistakes mentioned in this post.
It’s advisable to be open for negotiation when selling a home. More importantly, research before setting a value for your home to avoid overpricing. If this seems too challenging, hire a realtor to oversee the process.