What Not to Do When Selling Your Property?
When moving to a different state, the majority of people choose to sell their house and buy a new property in the state they are moving to. As you plan your moving process and consider and compare your options, you must also plan well for the sale of your house in advance.
Selling a house is not an easy job. It is a process that brings a mix of feelings with it as you may feel excited as well as stressed with all that is to do and happening around you. Additionally, there is a range of mistakes that anyone can commit and make their home selling experience bitter. In this post, we have talked about the common pitfalls of the house selling process and how to overcome it.
Incorrectly estimating the value of the property
The most common mistake that the majority of home sellers make is wrongly estimating the value of the property. Setting a beyond reasonable price can cause you a lot of problems, you can easily get yourself into seller's limbo which is a condition when you have to sit in the market forever. On the other hand, pricing the house very low can because you loses. It is recommended to partner with a credible real estate agent and take their help in finding the right value for your property.
However, you can also take a few steps to ensure that you value your property appropriately. Some easy tips for property value evaluation include:
Use an online value calculator.
Check the value of similar properties in your neighborhood as well as in the adjacent areas.
Check the situation in the housing market and accordingly find the value.
Take professional help to have a great pricing strategy.
Incorrectly estimating the value of the property
Wrongly setting the selling cost of the property
Whether you are moving to a new state or selling your house for any other reason, the ultimate goal of the transaction is earning profit. Sadly, it is common for property owners to pay little or no attention to the costs associated with selling a house. For instance, you will have to pay an approx. of 5-6% of the sales to the broker as commission. If you sell your house for a high price, you will have to pay a higher commission to the agent or broker.
Now, another important aspect to consider is the negotiations during the selling process. The bur may ask you to make certain concessions such as repairs and more, which could lower your selling price.
Ignoring the importance of a pre-listing home inspection
It is common practice for homebuyers to hire a home inspector who inspects the property and identify any potential points that help in the negotiation of the cost of the property. Mold, pests, cracked walls, damaged drywall, and several other factors can cost you a big time when selling your house. Not only you will have to sell the house for less money, you may even lose some potential clients.
A pre-listing home inspection saves you big time. They are affordably offered by many reputed companies. You can easily find a credible home inspector and get a pre-listing home inspection done, the report of the inspector would highlight the problems which you can repair before you list your house for sale.
Avoiding home staging
Irrespective of how amazing your house is, if it does not impress potential clients, you are at the losing end of the bargain. The right approach to staging helps you in making your home more attractive and sales-worthy. When you do staging, you must ensure that the house does not has your personal touch.
You must remove all the personal items such as family pictures, family items, and more to make the property look neutral. Also, if there is something that personalizes the space, you must ensure that it is removed. You can always engage with professional home stagers as they offer excellent services that fetch you great sales results.
Ignoring online approach
Many people overlook the online way of selling the house, which in the current Covid-19 situation, is the biggest mistake to commit. People find potential properties on the internet nowadays. You must list your property on the best websites and also on different social media accounts. Take professional pictures of your property and post them on different home selling websites and social media accounts.
Ignoring the energy efficiency of the house
Modern homebuyers are very cautious about their carbon footprints. If you are selling a house that is not energy efficient, you may not get a lucrative price of the property. From home insulation system to the HVAC system, heating system to water system, and more, you must check all the mechanical, plumbing, and electrical systems of the house and ensure that they are working to their full potential.
Ignoring the exterior
If you have a property with a great exterior - a lawn, a garden, or a drive-through, you can sell the property for a higher price. However, when selling a house, people forget to work on their exterior living areas. When you are staging your home, you must pay equal attention to the outdoor area and tweak the shortcomings.
Avoid these mistakes when selling your house and have enough money to buy your dream house in the new state. If you get a good price for the property, you can use the profit to pay for the moving costs and enjoy a smooth moving process.
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