Whether this is your first, or second time selling your home, you may be surprised at how time-consuming and challenging the process is. You must prepare your home, choose an asking price, and work with a real estate agent and lawyer to get everything in order for the sale. People will be allowed to schedule time to visit your home and look around, listing the pros and cons in their mind. Without any experience, it’s easy to make a lot of mistakes, but with guidance and the help of a professional, you may be able to make a great sale without losing your mind. Here are some of the most common home-selling mistakes to avoid.
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Over Pricing
Perhaps the biggest mistake you can make when selling your home is listing your home higher than what its market value is. Even a price that is only five percent higher can discourage buyers, because overpriced homes scare away potential buyers who are unsure if they can even afford to browse. Buyers who find overpriced houses know they can get a better deal elsewhere.
Expecting to Get Your Asking Price
When selling your home, you may be hoping to get your asking price, but remember that you must be willing to negotiate a bit. If you want to complete a sale, you will need to leave some breathing room for negotiations—this is still a better option that overpricing and hoping to get haggled for a price close to what your home is really worth. Negotiations allows the buyer to feel as though they are getting a good value, while you can find comfort in getting the amount you need from the sale.
No Curb Appeal
Your home only gets one opportunity to make a good first impression, and curb appeal makes a huge different. Buyers tend to either fall in love with a home at first sight, or not at all. If your home lacks that “wow” factor because there are ungroomed shrubs and grass in your front yard or because your front doors and shutters have chipped paint, you could be turning buyers away. Spruce up your yard, have the fence and shutters repainted, add potted flowers out front, use walkway lighting to illuminate the yard, or anything else to enhance your home’s look.
Not Preparing the Home First
Proper staging and preparing your home are paramount to your ability to make a good sale. Most buyers will hardly consider a home that needs fix ups, especially in today’s competitive market. On the other hand, a beautiful showcased home gets the better prices and offers when all is said and done. Most buyers are looking for homes that are in move-in condition or one that looks like a model home. If you do come across buyers who are willing to do repairs and renovations, you should expect they will want a lower price. Either way, putting off fix ups until your house is already sold (if it gets sold) won’t make sense. Buyers want a home that looks properly staged and ready for living in.
Dreary, Dark Décor
Buyers prefer homes that are bright and light, compared to dark atmospheres. Do not make the mistake of leaving your home looking dreary and dull. Dark carpets, paint, and curtains are often rejected by buyers, who feel it makes the home look cluttered and dark. Update your cabinets, countertops, carpets, and curtains to create a brighter look, and expose windows to bring in light. If there are any offensive smells in your home, be sure to welcome in fresh air and burn lightly scented candles to create pleasant aroma. The rooms you should focus on include the living room, dining room, kitchen, and master bedroom, as these rooms have the greatest impact on atmosphere.
Being Present during Showings
It can be very uncomfortable for visitors to walk into your home to find you watching television or reading a book in the living room. Your presence can make them feel uneasy and you may be tempted to get in the way of their experience of imagining the home as their own. When they are scheduled to come by, go for a drive or take a walk with your family members and pets. Give the agent and their clients the freedom to explore your home and dream of what it would be like to live there. With visitors at ease, they are more likely to take their time going through your home’s features without feeling rushed.
Not Using an Agent
Selling your home on your own could lead to a disaster. You may post your home for a price too high or may forget about important upgrades that affect your ability to sell. A professional real estate agent and lawyer can help you avoid legal mistakes and carefully sell your home because they know more and do more than you may be able to. They are able to help you understand the costs, title transfer, forms and contracts, and any other important aspect of your sale.
Not checking your Mortgage penalties and costs that may apply
Your existing mortgage will most likely have to be closed when you sell. If you will be paying your mortgage off early check with your bank to see what the penalty will be as this can be surprisingly high.
Choose Our Lawyers when Selling Your Home
The lawyer who acts on the sale of the home will be a very important part of the closing process. That lawyer will basically take care of everything needed to legally transfer title to the buyer and to make sure that you get your funds from the buyer certified and without concern. He will make any adjustments for property taxes or maintenance fees as applicable, order the payout statement from the bank, respond to the requisitions and queries of the buyer’s lawyer, and pretty well make sure everything is taken care of for you to receive your funds or to transfer them to your new purchase.
If you are looking for a reliable, trustworthy, educated, and experienced real estate lawyer to help you sell your home, Zinati Kay – Real Estate Lawyers can help. We are a full service residential real estate law firm that provides fixed closing costs to buyers and sellers when they buy, sell, mortgage, or title transfer their property. For over 25 years, we have closed over 21,000 real estate transactions, and helped many clients navigate the often-confusing terms and conditions of their forms. We provide professional service and reasonable real estate lawyer fees and have thousands of satisfied clients to prove it. If you need a lawyer while selling a house, contact us at 416-321-8766 for more information about our services.