Top 5 Mistakes When Selling Your Home
Selling a property can be consuming of stress and time. It involves a great deal of attention and commitment to get the best possible outcome so it’s natural for vendors to want the process to go well. Ultimately, the main goal is to sell quickly and ensure a high profit, however in some cases, houses can be stuck on the property market for longer than the seller wants and this may be due too lack of knowledge and common mistakes made by the vendor.
Mistake 1- No estate agent
Some sellers think it is best for them financially to choose to sell their own home, hoping to avoid fees with an estate agent. Ironically, this can become a pricey mistake as it can be hard to know where to start without the research and knowledge that an agent can provide. The negotiation can be time consuming and a little too personal for some vendors.
Mistake 2 – Not the right estate agent
Even when choosing to work with an estate agent to sell your home, if you hire one that isn’t delivering, this could hinder your sale just as much as deciding to sell without an agent. Bad pricing, limited marketing and wasting time with uninterested buyers can sabotage the progress of selling your home. Looking at online reviews, comparing options and advice from family or friends that have recently sold property will enhance good recommendations for local estate agents and will hopefully lead you to the right one.
Mistake 3- Overdevelopment
It is vital to speak to your estate agent about whether it is neccessary to upgrade your home as one major consequence could be losing money. Spending too much on home improvements could increase the property value, which sounds positive, however depending on your neighbourhood standards, this could lead to incomparable properties within your area, and buyers not being able to afford your house.
Mistake 4 - House Preparation
Even though house preparation can be seen as an obvious thing to do when going on the market, not preparing your home can reduce your chances of selling and possibly even lead to disappointment from buyers when viewing your home. It’s amazing what tidying, getting rid of clutter and improving your house’s look can do to improve your chances of selling. Staging your house for viewings can go from someone wanting to buy a house, to wanting to buy a lifestyle.
Mistake 5 – The Fine Print
Even after you’ve gone through the journey of preparing, marketing and showing your home to buyers, you may become careless when it comes to the final stage of the sale. If not read properly, you could agree to fund additional repairs or giving up appliances. The best thing to do is to run through the contract with a solicitor before you sign anything.
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