Mistakes To Avoid When Selling Your Home
Selling your home is stressful, and can be super complicated. From getting the timing right to balancing financial transactions, moving, and working with all the different players, it's easy to make a mistake. Here are some of the top mistakes real estate industry pros agree can lose you money, time, and patience!
1. Over or Under-Pricing
You'll lose money either way. It's important to be realistic about setting a sale price. Over-pricing can cause your home to sit on the market with no offers, and the longer a home is listed makes potential buyers wonder what's wrong with it. Under-pricing may get you a fast sale but you'll lose the real value of your investment.
2. Minor Repairs or Updates
You'd be surprised the difference a new coat of paint, new carpet- or conversely, stained floors and broken fixtures, will make in the offers you receive. The perceived value to your potential buyers can be double or triple the cost of minor repairs and updates.
3. Staging & Photos
Remember you want potential buyers to be able to picture your home as their new home. You want to create the perfect balance between a blank slate and an example of decor that brings out the best features of your space. This starts with quality photos and continues with thoughtful staging.
Timing is huge, particularly in a competitive market like Dallas. You need to be ready with your ideal timing plans, contingency plans and second contingency plans. In a perfect world, your home sale will be timed perfectly with the purchase of your new home, life events and the tax year. In reality, this may not be the case. Work with your Realtor to plan timing, then account for contingencies.
What they don't know might hurt you. Homeowners often try to glaze over problems with the home in hopes the buyer won't discover them. Honesty really is the best policy with home transactions. Too often, failing to disclose can end up tanking a deal or worse, costing the homeowner more money.