Selling a home isn’t always easy or straightforward. Most homeowners learn this the hard way when they place their house on the market and end up waiting months for the sale to finalize. However, there is a myriad of things that can make the home selling process even longer.
Ultimately, it comes down to knowing what to do. Just as importantly, you must learn what not to do. We’re here to talk about the latter.
If selling a house quickly is your top priority, we can help. Keep reading for a quick guide on the top seven home selling mistakes you should avoid at all costs.
1. Not Knowing the Condition of Your Home
Before you sell your home, you need to understand its current condition. Sure, everything might seem fine and dandy on the surface, but do you really know what you’re looking for? After all, if you sell your house traditionally, the buyer’s lender will require a thorough and professional home inspection.
If you want to expedite the home selling process, get your home inspected before you place it on the market. This way, you will know the exact condition of your home and any issues it might have. This option is far better than being surprised by home damages while you’re in the middle of negotiations with a buyer.
2. Over-Pricing and Under-Selling
One of the most common home selling mistakes is pricing your home too high. To avoid this, complete a comparative market analysis to compare your home with the homes that have sold in your neighborhood in the last few months. You need to know what the current real estate market is in your neighborhood.
Based on what the other homes sold for, you identify an accurate price range for your house. Compare and contrast your home with the others based on:
- Property size
- Square footage
- Number of rooms/bathrooms
- Recent updates
However, you must avoid the mistake of undervaluing your home. This might be a good way to sell a house quickly, but it will mitigate your potential earnings.
3. Not Accounting for All of the Home Selling Expenses
If you’re going to sell your house traditionally, you need to go into the process with both eyes open. In other words, you need to understand the true costs of the traditional home selling process.
For example, you’ll want to hire a realtor. Most real estate agents charge a minimum of 3% for their commission. However, sellers often pay for their realtor and the buyer’s realtor. Therefore, if you’re selling your home for $275,000 expect to pay $8,250 to $33,000 just in realtor fees.
Other costs include:
- Renovations and updates
- Professional cleaners
- Home staging fees
- Closing costs
- And more
While you certainly have a choice in how much money you spend preparing your house for the market, it won’t be free, or even cheap. You just need to decide which expenses are worth it and which ones aren’t.
4. Hiding Major Damages and Other Issues
If you decide to save money and forego major renovations and repairs, that’s okay. However, don’t make one of the worst home selling mistakes by trying to hide damages and issues.
This can come back to haunt you in multiple ways.
First, being dishonest is never an admirable approach in any aspect of life. Second, when selling your house, if buyers uncover something you tried to cover up, it will likely scare them away. Even if the damages aren’t severe, it will cause them to wonder what else you might be hiding.
5. Not Thinking About the Buyer
Speaking of the buyer, one of the most important tips for selling a house quickly is putting yourself in their shoes. If you were touring a home, what would make you want to place an offer on it?
If you can’t afford major renovations or repairs, at least take care of aesthetic issues. The more beautiful, clean, and attractive your home is, the more likely it is to motivate a buyer to place an offer. They’ll be able to see the home’s potential, even if it does need work.
Next, spend some time decluttering and depersonalizing your home. The buyer doesn’t need to be reminded of your presence every time they turn around or walk into a new room. Get rid of personal photos, trophies, awards, niche decor, etc.
Additionally, make sure the home is as clean as possible. This might mean hiring a residential cleaning company or spending your weekend doing the work yourself. A clean home makes a buyer feel comfortable and safe while touring your house.
Finally, spend time boosting your curb appeal. The exterior of your home should welcome potential buyers and inspire them to look inside.
6. Not Being Willing to Negotiate or Compromise
If selling a house quickly is your top concern, you’re must embrace the art of negotiation. The buyer is going to want the best deal possible on your home. Making a quick sale might mean meeting them in the middle (or more towards their side).
Thus, you must be willing to compromise. We’re not saying you need to give away the farm, but you can’t afford to be stubborn either.
7. Not Knowing Your Options
Finally, whether your need to sell your house quickly so you can purchase a new home or you’re trying to solve a financial problem, you have multiple options. You don’t have to sell your home traditionally through a real estate agent.
Don’t make the common home selling mistake of turning a blind eye to other viable solutions. For example, if you need to sell a house immediately, a cash home buyer can make it happen.
The cash home buying process is rather simple. All you need to do is contact the cash buyer and request a free cash offer. If you accept their offer, you can close on your home in as little as seven days.
This is far more appealing than spending months waiting on buyers, realtors, appraisers, inspectors, banks, and lenders.
Want to Expedite the Home Selling Process?
Are you trying to sell your house? Would you like to expedite the home selling process?
If so, make sure you avoid the home selling mistakes listed above. And remember, if time is of the essence, you have options. Consider selling to a cash home buyer.
If that’s the way you’re leaning, we can help. Contact us today to get your free cash offer.