Four Beginner Mistakes to Avoid When Selling Your Home
When selling your home for the first time, you’ll want to make sure you do everything right. Selling your home is a big decision, and it can be a complex process when you consider all the steps involved, from preparing and listing, making repairs, finding a buyer, the closing process and finally moving out.
The consequences of mistakes in the selling process can cost you a lot of money and cause unnecessary stress. It can be overwhelming, and we don’t blame you for being stressed out, that’s why we’ve compiled a list of mistakes you can avoid making when you decide to sell your home.
1. Underestimating the Costs of Selling
It’s imortant to be well aware of the additional costs that are associated with selling your home. If you have not done your research, it may come as a surprise. Be prepared to pay around five to six percent in agent comissions and real estate fees.
When you account for closing costs, repairs, and concessions for the buyer, the total cost of selling your home can go up to ten percent of the sale price. Furthermore, if your home ends up being on the market much longer than you anticipate, your move-in date with your new home may not match up.
If you have to move out before you are able to close a sale on your home, you’ll need to continue covering the costs until you are able to find a buyer. This means the mortgage payments, utilities, and property taxes will continue to come out of your pocket.
2. Not Choosing the Right Real Estate Agent
If you choose to sell your home with a real estate agent, it’s important you do your research and find one who will have your best interests in mind and will dedicate the time needed to get your home sold.
Take the time to interview potential real estate agents, do your research and look into their licenses, credentials, and ensure they have sufficient experience selling homes of your kind. You may want to ask the real estate agent a list of questions such as:
- Whether they require a contract with clients and for how long.
- Their marketing plan for your home.
- Associated fees and whether or not they charge a flat fee or commission.
3. Setting an Unrealistic Listing Price
Pricing a home can be tricky, you want to make sure you’re not pricing it too low or too high. By making the wrong decision, you could miss out on thousands of dollars in profit. A home priced too high could turn away potential buyers or you may end up having your home sit on the market for weeks to months until you are forced to lower the price yourself.
Setting the right price from the very beginning can make a big difference in how quickly you sell your home and how much money you end up getting for it.
4. Neglecting Repairs
Some homeowners choose to skimp out on repairs or choose to hide them entirely. Hiding problems like plumbing, leaks,and faulty appliances can end up backfiring on the seller and will end up leading to a stalled sale.
Be honest and transparent with potential buyers about what needs repairs. However, preparing your home for sale means ensuring you take care of necessary repairs, doing so will increase the chances of getting an offer or multiple for your home.
Sell Your House Fast With Opening Door Properties
If you’ve been thinking; I need to sell my house fast in Charlotte, NC, then you need to reach out to Opening Door Properties. We are an experienced and reliable home buying company and we buy houses, and provide free, no-obligation cash offers for your home.
If you are looking to sell your house fast and avoid the hassle and costs associated with selling the traditional way, we’re here to make your life easier. With a simple four-step process, we can get you a cash offer for your home in as little as seven days.
When you work with us, you don’t have to worry about paying for closing costs, commissions or spending money on repairs and renonvations. We will purchase your home no matter what condition its in.