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6 Common Mistakes made when selling you home

Selling a home can be quite the involved and complicated process. To keep it hassle-free from “for-sale” to “sold”, consider avoiding common mistakes others have made when selling their home.

Skimping on necessary repairs

Ignoring major repairs can halt or even cause the deal to fall through. If the home inspector spots detrimental damage, it will likely freeze the sale until the repairs are taken care of or an agreement with the purchaser can be made. In return, this can cost more time and money for the seller.

To save yourself some pennies and the hassle of a potential hold up, assess any serious repairs before listing your home. It may feel unnecessary to repair a home you’re soon to leave, but it could help you pass inspection and streamline the selling process while possibly receiving top dollar on your property.

Not prepping the house for showings

Your home is bound to be filled with mementos, photographs, kitchen magnets and all of the wonderful details that make it unique to you. However, an important part of preparing your home for showings is to minimize knick-knacks.

Store away any clutter that would distract an interested homebuyer when they enter a room or open a closet or cabinet. Clean up all surfaces, including bookshelves, end tables and kitchen countertops. By tidying up around the house, you’ll help rooms appear larger and buyers will be able to envision their own belongings in the space.

Don’t forget about curb appeal! Buyers will likely form an opinion of your home before they step through the front door. When you are cleaning up and staging the interior of the home, be sure to head outside and give a bit of love and care to the exterior too. Depending on the season, this could include anything from weeding mulch beds, putting out planters or touching up chipped paint on the house’s exterior.

Using inadequate listing photos

Pictures speak a thousand words, right? Well listing photos deliver a message when attracting homebuyers and can make all the difference in the earlier stages of the process online. Digital listings for the most luxurious homes with low-quality will receive less clicks.

Photos with ample lighting can help a room appear spacious. Prepping the home by cleaning and decorating before listing it helps ensure that photos capture each room looking subtle yet sophisticated.

Listing it FSBO

Interested in receiving significantly less money in return for your listing? List it as a “for sale by owner” or FSBO.

Sellers who list their homes as a FSBO could face major setbacks along the way. To ensure the sale is legally sound and that you’re receiving competitive offers, it’s important to hire a real estate agent. As your representative in the sale, your real estate agent will offer guidance and make sure the process goes smoothly.

Why attempt it alone? Experienced agents dedicate their lives to helping people navigate the buying or selling process – use them and save yourself the headaches.

Setting an inflated price

Selling in a seller’s market – the type of market we are in currently – may mean that you list your home for sale at a higher price to account for the increased demand. But it isn’t always that way. Read up on your local housing market to learn the current trends of buyers and sellers.

Then be realistic and timely when setting an initial listing price. Hiring a real estate agent can help guide you to a fair listing price.

Setting the price to be inconsistent to the value of the property means that the home can possibly sit on the market for days on end. And according to buyers, when they see a home day after day on the market, without any movement, may question the integrity of the home.

Underestimating costs associated with the process

Make sure you’re aware of the costs associated with the process – whether it be listed with a professional or a FSBO. Your initial investment may be some routine repair, staging and professional listing photos. As the sale progresses, it could (and will likely) turn into paying for closing costs, moving expenses and fees associated with hiring a real estate agent.

That being said, don’t miss out on a higher return on your home by not planning accordingly. And don’t be surprised by the additional costs associated with the selling process.

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