5 Home Selling Mistakes You Must Avoid

If you intend to sell your home now for any reason, you should not only find out the best things to help you sell your home faster, but you should also know the mistakes to avoid. A smart person learns from the mistakes of other people.

In that spirit, here are the most common home selling mistakes that others make, which you should avoid:

1. Going it alone even when it is your first time to sell a home

You think selling a home is as simple as putting up a few signs and listing it on the real estate sites. However, nothing could be further from the truth. Only 10 percent of the homes on For Sale By Owner (FSBO) do actually sell, and most of the time, it is less than 10 percent. So, if you would like yours to be part of this 10 percent, you really have to know how to go about it. This is why it is advisable to involve the services of a real agent.

2. Setting an asking price too much above the market

It is good to think that your home is worth whatever amount you are charging for it. It is your home after all. However, the property will not budge if you over-price it. Other people, sellers as well as buyers know the standard rate of a home like yours. Other home sellers in your neighborhood will use your home as the anchor price if you price it too high and then you will remain with it in your hands.

3. Not knowing the right time to sell

This is your home, you have lived in it all of your life, or for a considerable part of your life and therefore you tend to get a bit emotional when selling the home. However, do not allow that to happen since it can hinder you to think about the home as a business transaction. When you feel you are over the home, when you feel that the home is too large or too small for you, then it is time to sell and move on. However, be smart and time for when the market is right. Depersonalize the home as much as you can so that the buyers can see themselves in the house, rather than see your effects.

4. Sticking with the asking price if the home isn’t selling

You have truly tried to price the home at a very fair price, but the mistake that you did is that you did not leave some room for negotiation. The buyer wants to buy at the lowest price possible, the seller wants to sell at the highest price possible. There in comes some room for negotiation. Always aim to make the buyer happy by taking your last price a notch or two lower. That way, the home sells faster.

5. Non-disclosure of any serious problems

You have to disclose the problems in your house. This is why you need to hire an inspector to comb through the house. List all these problems and either; repair them, or disclose all of them. Failure to disclose them could get you sued in future – you do not want that. If you do not repair them, then the cost for such comes out of the offer that you accept. Fix, or disclose!