Selling a home on your own can be an exciting proposition. But selling it successfully in a dynamic real estate market can be quite challenging. If you are new to the property market and are attempting to sell your home for the first time, it is beneficial for you to have an idea of some common mistakes sellers make. You can avoid these mistakes to avail the benefits of private selling of property.
1. Sellers tend to be emotionally attached to their homes
It helps to be detached from your property and look at it as merely a financial deal. This will help you look at your property in a more practical manner. You can look at the house from a buyer’s angle. This will help you set a realistic price. You will be able to stage it better. This is because you will now see what the buyer expects from the house.
2. There is a tendency to overprice the house
Most sellers expect a lot from the sale because of their emotional attachment to the house. Both overpricing and underpricing have a negative impact on the sale. A practical approach to pricing the house accurately is by studying the market trends; finding the prevailing prices of similar properties on the net, etc.
3. Many times sellers do not give due importance to presentation of the house
Sale of the house is directly dependent on its approval. For a home to be approved by a buyer, its presentation is important. In a hurry to sell the house, the seller may not spend enough time in cleaning and organising it. This will give a bad impression about the house to the seller.
4. Neglecting necessary repairs of the house
If the condition of the house is such that repairs have not been done, it will dissuade the prospects. For improving the chances of a sale, the homeowner should take care of all the minor repairs. As far as the major faults are concerned, the seller should check whether he can recover the expenses incurred towards their repairs in the sale. If he can, then it would be a good idea to go ahead with the repairs. On the other hand, if he can’t, he could consider reducing the price of the house to compensate for it.
5. Not uploading good pictures
Most buyers select a house by seeing its photographs and videos uploaded on the net. Therefore, if the quality of pictures is not good enough potential buyers will not be attracted towards the home.
6. Hiding facts about the house
There might be certain defects in the house such as a leaky roof or broken tile, etc. Owners tend to hide these facts and push the property for sale. But it is better, to be honest about such defects.This is because the buyer and his inspector will eventually discover them. This will put the seller on a backfoot during negotiations.
These are some common mistakes which if avoided can make your home selling experience an enjoyable one.