16 Jun Avoid These Common Mistakes When Selling Your Home
The size and scope of a real estate transaction should not be underestimated. As we’ve noted before, buying or selling a home is one of the most consequential decisions you’ll make in your life, so getting it right is critical. When you sell, the goal is all about maximizing your return on your investment from when you originally bought your home, plus any improvements you’ve made to it.
Not Engaging a Real Estate Attorney Right Away
We’ve written about it previously, but it always bears repeating: hire a real estate attorney the moment you’re ready to put your home on the market. Want to know from the start what you can expect to net from the sale of your home? Do you want to understand the closing process from contract to closing? Of course you do! This, among other things, is the value-add of your real estate attorney.
Under-Valuing Your Home
You don’t want to sell yourself (or your house) short when listing it for sale by asking for less than your home is worth. On the other hand, a list price that’s too high may keep potential buyers away. Your real estate agent will help you price the home right, and secure the fair market value of your home.
Ignoring Necessary Repairs
No one wants to shell out money for repairs on a home they are about to sell. However, investing in a few simple repairs may help your chances of selling your home for the best possible price, and walking away with a bigger profit and more money in your pocket!
Fix the small things first like broken appliances, leaky faucets and dead electrical outlets. Then, you may wish to have your home inspector do a deeper dive to rule out bigger ticket items like foundational or sewer issues.
Leaving Your Home a Mess
Don’t forget to clean up after yourself! A deep cleaning and even purging some of your furniture and larger items (perhaps renting a storage unit), can make your home look more spacious and help potential buyers picture their own furniture filling the space. Fast-forward to the closing. You are required to leave the home in broom-clean condition — free of any of your personal items and debris. Be sure to sweep and vacuum — before the buyer’s final walk through!
Your real estate team will be there when you need them, but they can’t do it alone. By following these tips, you’ll avoid the pitfalls and increase your chances of a smooth selling process.