Selling Your House 101: Avoid These Mistakes When Selling a House

by Mother Huddle Staff
Selling Your House 101 Avoid These Mistakes When Selling a House

Selling a home can be thrilling and challenging, especially if it’s your first time doing so. However, whatever your reason for selling your house, there are several drawbacks you may likely fall into, making your home sale situation less than ideal. Fortunately, here is a list of the most frequent house selling mistakes individuals make so that you can sell your home knowing you’ve covered all of your concerns.

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Getting Your Emotions on The Way

It is usual for people to be emotional when selling their home, especially their first one. Although your family shared good memories that lingered through every corner of that house, you still have to sell it, whatever the reason may be. 

Trying to sell It on Your Own

This is a significant issue. Going the “For Sale by Owner” (FSBO) route or not hiring a real estate agent is a substantial home-selling disaster. Do you want to save money by not paying an agent’s fee? Sure. However, you may pass up an opportunity to earn far more cash.

 Indeed, according to the most recent data, the average FSBO property sold for roughly $218,000 compared to more than $242,000 when sold through an agent.5 That’s a $24,000 gap!

You are not selling It at a reasonable price.

Pricing a house may be difficult! You might lose hundreds of dollars in profit if you price it too cheap. But, on the other hand, the price is too high, and you risk turning away serious bidders or wasting weeks or months before you have to lower the cost to obtain an offer.

Don’t rely on the internet. Instead, request a comparative market report from a real estate professional, which will show you how many houses similar to yours are selling for in your region so, whether you intend to sell to a cash home buyer like Property Rescue, or go down the more traditional route of selling, you’ll be able to get an idea of what you should be looking to sell for. Choosing the right price from the beginning may make or break how quickly you sell your home or how many dollars you finish up with at the end of the deal.

Selling with Mortgage problems.

If you still owe money on your mortgage, you’ll almost certainly spend a percentage of the profits from the sale of your property to pay it off. So ensure you don’t owe more on your mortgage than your home is worth, or you won’t be able to pay it off with the money from the transaction. 

Almost often, the wisest decision is to hold off on selling your property so that it may gain more equity. This allows you to sell your current house and purchase a new one without worrying about existing mortgages at the same period.

Even if you sell it, you will not pay off the debt. So striking even on your house sale is a step in the right direction, but it’s still not ideal.

Not Repairing Major Issues

Do you believe your buyer won’t notice the water leak? What about the bug issue? Think again. If your bidders are savvy, they will undoubtedly request a house examination after you approve their proposal.

 And if a severe problem with your home is discovered during the inspection, it may cause your deadline to be delayed or possibly the purchase to be terminated entirely. So think about paying for a professional home inspection before listing your house to ensure it is in good condition for your client.

To Wrap It Up

Whatever the reason you’re selling your house, the fact you’ve undoubtedly lived in your home for a long time means you have a lot of solid sentiments about it. So it’s normal to get offended when you receive a huge discount offer.

Rather than walking away, make a counteroffer that you and your real estate agent believe is reasonable. You’ll be pleased you didn’t let your emotions get the best of you if they’re genuinely committed.

“If you’re looking for a swift and relatively fuss-free sale, auctions are a great way to create a competitive bidding environment and still get a decent price. The added benefit is that you’ll get much more security compared to traditional real estate agent sales,” comments Ruban Selvanayagam of Property Solvers.

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