Last Updated on December 20, 2022 by hassan abbas
Selling a house is no easy task and it can take a lot of time for homeowners to find a potential buyer. In order to find the right buyer, there are many mistakes that homeowners should avoid, if these mistakes are not addressed, they can cause homeowners to lose precious money.
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Mistakes Homeowners Should Avoid
- Underpricing the House
while homeowners should benefit from the property’s sale, many sellers overlook the expense of selling the property. For example, sellers should budget some percentage of the house’s total sale price to pay the real estate agents’ charges. Get the idea from the Park View City.
Furthermore, this high price excludes any possible adjustments that BUYERS’ may demand during the negotiating period, such as completing repairs recommended by a house inspection.
- Overlooking Moving Expenditure
Another expense that sellers overlook is moving charges. Most sellers make sure to sell their house at a price that covers moving expenses. However, many sellers make the mistake of overlooking this expense. To avoid this common mistake, homeowners should consider all their expenses and costs before pricing the house.
- Overpricing the House
Another common mistake to avoid when selling a home is overpricing. If the house is overpriced, it will enter the seller’s limbo, where it will remain on the market for eternity. Properties that sit in the sellers’ market for more than a few months lose their market value. In the end, homeowners are forced to sell the property for far less its market value. Underpricing or overpricing the house can both cause problems for the seller. Homeowners can avoid this mistake and properly price their house with the help of a real estate agent.
- Not Paying off Installments Before Selling
One scenario to avoid when selling the house is where homeowners still have installments to pay off. In this situation, it is most likely that sellers use a portion of the sale proceeds of the house to pay them off. Homeowners should wait for the installments to be paid off and then put the house up for sale. This way homeowners can easily sell their house and be able to purchase a new one and not have to pay the installments for two properties.
- Skipping house inspections
Skipping out on getting the house inspected before listing it is yet another mistake homeowners need to avoid. Even if everything goes smoothly, selling a home is stressful enough. However, if a buyer appoints an inspector who discovers a problem such as black mold, termites, or a damaged foundation, there’s a high possibility that the deal is lost right away.
There’s no need to skip house inspections since they’re not that expensive. Getting the property inspected can help homeowners fix the problems before new owners move in
- Not upgrading or maintaining the house
Not maintaining the house before selling it is yet another mistake that homeowners need to avoid. Homeowners should make sure that all the appliances in the house are in working condition. If they are in terrible condition, it’s best to replace them instead of fixing them. Other than upgrading the appliances, sellers should also repaint the interior and exterior walls, refurbish worn-out carpeting, refinish old wooden floors, fix the wirings, replace old power sockets with new ones, get energy savers instead of light bulbs, etc.
- Trying to sell a dirty house
Most homeowners’ do not put too much thought into deeply cleaning their homes before putting them up for sale. This is a major mistake on the seller’s end and should be avoided at all costs.
A filthy house is something that can turn away a majority of potential buyers during a home tour as there is nothing more unsettling. Homeowners don’t have to spend precious money with cleaning firms when they can carry out most of the cleaning themselves. Even though it can take more than a couple of days to get the property spotless, it will increase the chances of the property selling quicker.
If all these mistakes are avoided, not only will the seller benefit greatly when selling the property, but will maintain a good reputation in front of the buyer. This ensures an increased possibility of potential buyers for more properties hat sellers want to list in the market.
Muhammad Junaid is a CEO of VM Sol, senior Analyst, and Search Engine Expert. Extensive experience being an IT Manager in GreyBricks Marketing – Capital Smart City. Work for years with local and international enterprises. Also, represent well-known brands in the UAE.
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