(Newswire.net — February 2, 2021) — The battle begins when you have decided to sell your house. Too many problems come your way, and one who handles them successfully is the ultimate winner. Selling your property can be a tricky affair once you get yourself involved in it. However, you can avoid the common mistakes that a property owner usually commits. You can always learn more about common mistakes a property owner often makes.
1. Misjudgments about Selling Costs
A majority of home sellers find that the total cost of selling a home has actually risen beyond their expectations due to the 5% to 6% escalation in brokerage. Further, if you estimate miscellaneous costs like renovations, closing costs, and unforeseen expenses (concessions), it may increase over 10% to 15% and can eat away your profit margin.
You should calculate the net proceeds estimates, namely the amount that goes to your wallet after considering the selling costs.
2. Non-Viable Price Commitment
There is a wide gap between the selling price that you have tagged and what is prevalent in the real estate marketing domains. The element of fair market value always becomes a significant factor during price determination. From the seller’s point of view, the onus, therefore, lies on him to quote the most justified price bid for an amicable property deal!
3. Selecting the So-Called Best Offer
One may think that the highest buying offer is the best thing in his life, and he should close the deal, expecting a substantial profit. However, there are much more considerations that must be taken care of before the ultimate transfer of property. There is an inspection and other financial costs involved. Hence, the seller must foresee the contingencies that may come his way before arriving at a saleable cost.
4. Ignoring Major Repairs
When the buyer comes across a long list of repairs during the home inspection, he may feel awkward and stay away from the property deal. It is a negative situation at the buyer’s end, which should always be avoided as it potentially undervalues the subject property. Your house should always match what you have advertised. There should not be any breach of trust because the buyer will always stress on pre-inspection of the property in question.
5. Showing the Place Around Without Planning
It is a big challenge during home listings that may become a major obstacle in materializing the property sale. The less cluttered, well decorated and a cleaner ambiance will definitely attract prospective buyers to have a look at your property for sale. Besides, curb appeal may also be a deciding factor.
6. Wrong Selection of Real Estate Agents
90% of sellers prefer intermediaries to sell their property. One needs to choose the best agent in the business. Some agents may charge a flat fee, and others may prefer a proportionate share in the selling price, which is 5% at the most. Thus, sellers must take the time to interview the agents and go through the licenses and credentials before arriving at a proper decision.
Concluding Words
Now that you are aware of the common mistakes, you need to search for remedies that are authentic and practical. However, if something does not go as per plan, you can always refer to Cashmyre for the home selling process solutions. We do have the best real estate expertise to resolve any type of mix-up.