Be wary of these pitfalls if you want to get the most money when selling your home.
When selling your home, it pays to do your research. Best Coast Realty has compiled the top 10 things to avoid when selling your home. Knowledge is Power!
1. Selling your home on your own
Trying to sell your home by yourself is sheer madness. You need the expertise of a REALTOR. And the numbers don’t lie: homes without representation remain on the market longer and end up selling at a lower price than those who utilize a REALTOR.
2. Mispricing your home
Overpricing or underpricing is a huge and costly error. It’s critical to understand your market: become familiar with comparable homes currently for sale and those that have recently sold within past 6 month. This will help to understand the housing market in your area.
3. Neglecting necessary repairs
You will lose money if you don’t remedy repairs before you list your house. It’s less costly to fix things ahead of time, rather than have buyers see all of your home’s faults at the open house.
4. Refusing to tidy up before listing
Create a sense of cleanliness by decluttering. From the kitchen countertops to the overstuffed closets to the trophy-lined shelves in the den. It will reap big rewards when it’s time to sell.
5. Selling a vacant house
Viewing an empty house makes buyers feel the same way: empty. Most real estate pros are firm believers that a home should be “staged” with furniture. A professionally staged home will allow buyers to envision themselves living there.
6. Letting your ego get in the way
Many sellers take negotiating personally and lose out on closing the deal. Remember, this is a business transaction — perhaps the biggest one of your life. Take your ego out of the equation and put your head back into it.
7. Failing to complete a full set of disclosures
Too many sellers lose big bucks because they were afraid to disclose their home’s imperfections. Be upfront and forthcoming about all of your home’s issues.
8. Mistiming the sale
Even a sale that misses its schedule by one day can cost you tens of thousands in extra taxes. Don’t be left a day late and many dollars short. Talk to your accountant well in advance to determine if any long-term capital gains tax breaks apply, and time the sale accordingly.
9. Overlooking extra expenses at closing
Home sellers throw thousands away by not requesting and confirming a list of fees and expenses prior to closing. Review the estimated closing cost statements with your real estate agent well before it’s time to hand over the keys.
10. Using low quality photos
More than 90% of all buyers start their home search online, so make sure your home is ready for those professional photo shoots. You won’t ever get a second chance to make the perfect first impression.
content from: trulia.com