by Anita Raushel, Broker, Iron Country Realty
Selling your home can be a complicated and stressful process. A lot can go wrong between the time you list your home for sale and the time you go to closing. You can help minimize the stress and increase the odds of selling your home quickly by avoiding the top 5 mistakes that home sellers typically make.
Mistake #1: Choosing your real estate agent for the wrong reasons. Your top priority should be to sell your home for the best price possible as quickly as possible. With that in mind, choosing a Realtor simply because she’s your neighbor or your sister-in-law could be a very bad idea. We recommend that you interview several realtors and ask for references from other homeowners they have helped before deciding who will represent you during this critical time.
Mistake #2: Hiring an agent just because he or she promises to sell your house for more money than other agents. Some agents purposely inflate the projected selling price of your home just to get your listing. An inflated listing price that is out of sync with the current market will only increase the time your house is on the market. Chances are that you will ultimately have to lower your asking price to get your house sold.
Mistake #3: Getting personally attached to the outcome. Once you decide to sell, you need to detach yourself from the house and view the transaction strictly from a business standpoint. Don’t get offended if someone makes a low offer or doesn’t show appreciation for all those special home improvements you’ve made over the years.
Mistake #4: Not disclosing defects. It ís important to be upfront with buyers about defects in the house. Most states have a disclosure form of some kind, and you can avoid a lot of trouble (and lawsuits) down the road if it ís used correctly. Buyers also tend to be more forgiving when defects are disclosed by the seller before they are discovered by their home inspector.
Mistake #5: Signing a contract with an unqualified buyer. Many sellers are overjoyed by the first offer they receive for their home. But, if that buyer hasn’t been properly pre-qualified for a mortgage, you may lose months of valuable time while the buyer tries unsuccessfully to obtain a mortgage. Don’t sign a contract until the buyer has been pre-qualified (including a credit check) by a trustworthy, legitimate lender.
Selling a home is rarely easy and it can be emotionally challenging, but you don’t have to let it make you crazy. By avoiding these common seller mistakes, you can save yourself weeks or months of valuable time and help ensure a smooth transaction and a positive outcome.