Top 5 Mistakes Home Sellers Make

When it comes to selling a home, most can get a little emotional. It’s no wonder though! Most people have lived in their homes for a decade or more, making memories that you can’t put a price on. Although a home may seem more valuable to the owner who is trying to sell it, there is a point where it’s time to be realistic about what the homes value really is.

Letting emotions get in the way of making smart choices when it comes to selling your home could be the brink between selling fast or letting it sit on the market for a long time. If your home is sitting on the market for 30 days or more, it usually indicates that your price is too steep.

House For Sale Edmonton
Photo Credit: Sam ling on flickr

So to help you sell your home quickly and at a good fair price, we have compiled a list of the top 5 mistakes most home sellers make.

1. Not Maintaining Good Aesthetic

Curb appeal is way more important that most believe. Professionally staged homes with new paint (neutral colors are best), good landscaping, new furniture and ridding clutter will in turn sell your home five to seven times faster than a home that is not staged well.

2. Being Unrealistic

Unfortunately not many people will care much for what YOU paid originally for your home. So buying a home at $325,000 and adding $150,000 in renovations isn’t going to mean your home is going to sell for $475,000. Make sure that you are being realistic about the total value of your home. This includes the value of surrounding homes, cause that can either help or hurt the total value of your home.

3. Being “Dishonest”

A house is not a small investment in any way, shape or form. Buyers who are interested in a house are going to make sure they have inspectors come and bid on any damages, mold, etc. So make sure you are up front about any issues right off the bat if you are not planning on spending money to repair those issues. Otherwise, after the inspector comes, you can be sure that the buyer interested will want you to either cover the cost of repair. Or you will find yourself in a nasty legal battle if you sell the home and they find all those issues after purchasing.

4. Being Stubborn

Start with setting your home at a fair and reasonable price, and make sure you allow some wiggle room. Many buyers are going to start with a price that is well below your asking price. So to make everyone happy including yourself, be sure that you are able to negotiate and possible accept a price that is a little less than your asking price.

5. Back-Up Plans

Be sure that you know what you are going to do once the house is sold. This is so important. Many times sellers are so caught up in selling their current home and jumping into buying a new one that they do not take into consideration that some deals may fall through. Some people put clauses into their contracts disclaiming that they will not sell their home until a new one is purchased. Many good sellers will have contingency plans to keep them safe from having two mortgages and etc.

Above all it is most important to prepare for all aspects of what could go wrong or right, be negotiable and stay flexible.

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