When you decide to sell your home there are many tasks you should complete to enhance the appeal of your house and increase your chances of receiving an offer from an interested buyer. Similarly, you want to avoid certain mistakes or pitfalls many sellers fall victim to.
Follow these tips to ensure you stay on track and complete the sale of your home successfully and without a high level of stress:
Establish a reasonable asking price for your home
While you might feel like your home is unique, wonderful and no one can put a price on its value, buyers certainly can. According to USA Today, asking for too much money can impact whether buyers will make an offer on your home. Many sellers wind up asking for too much and their home sits on the market for an extended period of time because no one is willing to spend that much when they can find more reasonably priced houses in the area.
Additionally, the amount of money you initially paid for the home may not have any effect on the price it should be listed at today. The current housing market conditions and average selling price of similar homes in your neighborhood dictate what a reasonable asking price looks like. Recruit the assistance of a real estate agent to help you decide how much your home is worth in today's market.
Pick the right real estate agent
Hiring the wrong professional to help sell your home might lead to issues down the road, according to Realtor.com. Ensure you meet with your potential agent and ask about experience. It is especially helpful to hire an individual who has experience selling homes in your neighborhood.
Make sure your real estate agent communicates with you and is available to answer questions during the home selling process.
Dress up your home
Not picking up clutter, leaving major repairs for the buyer and not investing any money in improvement is another mistake home sellers commonly commit. Ensure that you hire a home inspection company and address any major concerns before listing your home. Needing to replace the roof, heating and cooling system or having grading issues may keep interested buyers from making an offer on your home. Ensure that your house is in great shape to appeal to the highest volume of prospective buyers.
Realtor.com noted that skipping this part of the process can also cost you a great deal of money. Buyers may wind up with the upper hand during a negotiation if they have an inspection done and find a number of issues present in your home.
Apply a new coat of paint and pump up the curb appeal by doing some landscaping and placing a few plants at the entrance of your home.
In addition, you may want to hire a professional home stager. The Real Estate Staging Association noted that a staged home spends as much as 73 percent less time on the market. Also, homes that are staged professionally may sell for more money due to the move-in ready and esthetically appealing appearance.
Believe it or not, sellers sometimes fib about the condition of their home. Withholding information or attempting to hide an expensive issue can become an expensive and detrimental mistake.
Most of the time, a home inspection financed by the buyer will reveal any structural or other major issues with the home. Negotiating a price with a buyer could turn ugly or he or she may even back out entirely if they feel you are dishonestly representing your property.
Eliminate odors and messes
While Fido and your beautiful baby make you smile from ear to ear, prospective buyers might only see chaos and foul stenches. Ask neighbors, friends or family members to watch your puppy, cat or any other animals you might have when showing your home. Emphasize to your kiddos the importance of keeping their rooms and all other areas of the house neat and clean during this time. Maybe even take them to their favorite restaurant or park if they keep the space clean over the course of the showings and open house.
Negotiate with your buyer
With the help of an experienced real estate agent, you can navigate through the negotiating process a bit easier. Remember that your asking price might not be the best offer your receive. Be willing to negotiate with the individual making the offer on your house. Your agent will also be able to let you know whether an offer is fair or if you should provide a counter offer.
Selling a home can be stressful, but by avoiding common mistakes you can ensure it goes smoothly. Plan ahead and ensure you adequately prepare for the process before listing your property.