6 MISTAKES TO AVOID WHEN SELLING YOUR HOME

If you’re thinking about selling your home, there are 6 mistakes you should be aware off that can result in you missing out on great profits when you sell your home. The following are these mistakes:

1. Don’t try to sell your home when it is not ready- You must prepare your house before you offer it to the buyers. This is called “Staging Your Home”. Do whatever is needed to bring your home into good shape. This may mean cleaning, painting, repairing and even remodeling. A little investment here will bring up the value of your home, which will get you a higher price for your home and make you bigger profits!

2. Don’t set an unrealistic price for your house- Whatever you are doing to improve your home, do not set a selling price that is not appropriate for it. A much higher asking price will deter the buyers from offering to buy your home. A right price for your home (or even a slightly higher price than fair market value) will at least send the buyer the message for negotiating about the deal. A realtor can be a great resource for you because they can give you a CMA (Comparative Market Analysis) on your home so that you can price it properly.

3. Don’t overdo while remodeling home- Your home should not look like ‘something out of place’ from your neighborhood. If upgrading your home, do it in such a way that it adds to the beauty of your surroundings and does not turn off the buyers at the very first sight of it.

4. Don’t be emotional while hiring a real estate agent- Hiring a local realtor has     many advantages. First, a local professional real estate agent is familiar with your area         and knows what price range your house can sell for. This way you can get the highest           possible price for your home. Most “For Sale by Owner” homes usually sell for less, and       you could’ve gotten more for your home if you would’ve been represented by a real               estate agent. Second, a local realtor can get you much more marketing exposure (e.g.         MLS Listings) than just a for sale sign on the front lawn and local ad on the newspaper.

5. Don’t try to hide the problem areas- If your basement leaks or the heating               system is not working right, repair them before filling up the property disclaimer form.       Simply filling the form will not prevent the buyer from suing you later when they                 discover problem!

6. Don’t try to sell home fast- Finally, don’t ever try to sell your home quickly or in         a hurry. Homes for sale is something to be well thought out, to be planned, and to be           given time for getting the right price. Being in hurry only means making yourself                 vulnerable for the buyer to take advantage and offering you a lower price for your                 home.

By avoiding these mistakes this should get you on your way to selling your home at a higher price and making bigger profits.

If you’re into commercial properties, I’ll be addressing some pitfalls when investing in these types of properties in a later blog.

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Source: http://www.articlesbase.com/real-estate-articles/mistakes-to-avoid-when-selling-home-2045398.html

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AVOID THESE PITFALLS WHEN SELLING YOUR HOME

When you’ve made the decision to sell your house you’re hoping you can sell it for top dollar, over and above the listing price, the day you list it. That would be SWEET!!!

The truth is, there are a number of factors involved, such as a slow down of the market, more homes going up for sale in your neighborhood, which means more competition, or your heart is broken, because your house didn’t sell at all, due to big mistakes you did without knowing it.

Below are 5 pitfalls you should avoid at all cost, and you’ll have more of a chance of selling your house for top dollar $$$:

Don’t hire the first Real Estate Broker you meet. Selling your home is one of the largest transactions you’ll ever have, so why wouldn’t you interview several applicants to help you? You can ask friends and family for referrals, but there are several questions you should ask. Make sure the agents you interview are experienced selling homes in your neighborhood and the type of home you want to sell. To get the listing, potential agents may employ a number of strategies, including suggesting or agreeing with you to list a high price for your home. Don’t fall for it. Choose the agent who is straight with you, about the market and about your home.

Don’t ignore the market. Every market is different and those differences can impact the sales price of your home, the number of days your home spends on the market, and whether your home sells or not. You have to face the reality of market conditions to influence the success of your home’s sale. If home prices are going up, you’ll do well, but it will be more expensive to purchase your next home, unless you move to a less expensive market or home.

And if prices are going down, you may not net what you were hoping for, but your next purchase may be a bargain, if you stay in the same area.

Don’t hide problems the home may have. If you’ve had a major water leak or had your foundation fixed, you need to disclose that in a formal seller’s disclosure form for all potential buyers to see. While it may be tempting to check the I-don’t-know box, remember that any lie can come undone. You don’t want to face legal problems because you tried to hide the truth. And if your buyer wants to know more, you can show the receipts for what you did to fix the problem.

Don’t overprice the home. When your home is overpriced, it’s underdressed for the party. Everyone notices that it doesn’t quite fit in. Buyers who can afford your home quickly notice that your home doesn’t quite measure up to others in the same price range. Buyers who could afford your home if it were priced correctly are unlikely to make offers because they’ll be searching in a different price range.

Don’t ignore your agent’s advice. A real estate agent is a professional. When she or he tells you that you’ll get a better offer more quickly if you’ll declutter, stage your home, make certain updates or repairs, it’s a proven truth. Buyers are more negative when they see homes that need work, and tend to make offers or withhold offers based on their feelings.

If your agent showed you a comparable market analysis, he or she may have suggested a listing range to price your home. If you go over that, you’re risking a negative response from the marketplace, long days on the market, and probable price reductions.

Do things right from the beginning and you’ll have a smoother, easier, and more profitable transaction!

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