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4 Expensive First-Time Home Seller Mistakes

If you are thinking about selling your home for the first time, you are most likely excited about relocating to a new place. When you are a first-time seller, many important things might slip your mind in the excitement of the whole selling process after finally getting a deal. But then, in order to get a profitable, easier and less stressful selling process, here are some common mistakes you should avoid making.

1. Setting an incorrect price (higher or lower)

All first-time buyers tend to think that starting with a higher price is good and if the house doesn’t sell, they can lower the price later on. Setting the price too high will, in turn, make your house stay longer on the market, and finally bring out a very low-end selling price. The other side of the coin is setting a low price and losing a lot of money on the table. Look for an experienced real estate agent and ask them to help you determine the correct market value estimate of your home. A real estate agent has more experience when it comes to correct pricing and also knows the current updates and trends in the real estate market.

 

2. Getting Emotionally Involved

Of course, you will have memories attached to the house. But remember that you are selling a building and not your life or identity. If you made up your mind to sell the house, then emotionally detach yourself from it. This will be very useful when negotiating any possible deals. Look at it as a long term goal that you are finally achieving. The new house you will buy will give you a better chance to build many more happy memories. When buyers offer below the price you had set, avoid getting emotional. No matter how low the offer is, don’t react negatively. This is just a baby step in the selling process. Also, make the house ready for the next buyer and remove anything personal from the house. You can even repaint it and use neutral colors.

 

3. Opting Not to Stage

First-time buyers need to understand the importance of staging. Home shopping online has become more trendy and widespread than ever, therefore you will need to have very attractive photos taken of your house as well. This will help with the online marketing of your home. Hiring a professional real estate photographer is the best option, since they will know the best places to capture to show the value of your house. Doing some repairs is part of home staging. No buyer wants to incur additional costs in a new home. Organize a pre-listing inspection for areas that need improvement and repairs that can be identified on time. The repairs should be made early enough so that you don’t discourage any potential buyers by having small setbacks.

 

4.Overlooking the Important Details

Selling a house can be very time consuming and crazy, therefore you might find yourself overlooking some important details. Legal details and financial information can prove to be very useful and should always be given utmost priority. Check if the house is still insured and if the buyer has received approval for financing. If not, you should confirm if they are paying in cash.  Signing a contract with a buyer who doesn’t have approved financing options can lead to possible delays and more time and money wasted. Get acquainted with all the expenses, fees and the closing costs before you sign the sales contract.

Are you thinking about selling your home? Click here to contact Desert North Realty today!