One of the best ways of winning a home selling battle is to anticipate the problems before they come. Considering the steps involved in selling a home, it can be such a complex process. It involves finding the appropriate buyer, making repairs, navigating the process and then moving to the other place. Making the wrong decision can cost you dearly and your peace of mind.
That is why reading this article will help you notice some mistakes that can land you in problems and how to avoid them.
Table of Contents
Underestimating the costs involved in selling
When you are selling your home, you have agents and their cost ranges from five to six percent in commissions. Besides, there are closing costs, repairs and other costs that could bring things to 10% of the sale price. If you are moving to a far location, you may have to rent some space temporarily and other utilities and this is an extra cost.
Get a home sale calculator and do an estimate of the amount of money you need to take home after selling your home. With these details before listing your house, you are better placed to choose the best way to sell and you have an idea of how much you need to spend in the process.
When you don’t do enough research on the real estate market, you are most likely going to set a price that may be too high or too low. The most important thing is to get the cost involved in selling, the buying price, tax, agent’s commission, and other costs. With that in mind, you can set the price for your home which should be in tandem with the market. If you set a price that is too high compared to equivalent houses, your potential clients may keep off and you end up getting frustrated. Again, you may set too low a price so that you get a small margin after selling or even sell at a loss. Get a valuation report which gives you the ‘fair market price’. This is the sweet spot that where you can ask too little or too much both of which have consequences.
Considering only the highest bidder
Imagine you have advertised the sale of your home and someone throws in an amount of money that puts others off. This can easily pull you toward settling on a deal with them and end up losing a lot of money in the end. In many traditional sales, some contingencies are conditions that protect buyers. For instance, there is financing or inspection contingency. One may give you a very pleasant offer when they’re supposed to be financed through a mortgage. This is a process that takes much time and may inconvenience you. Before you accept any offer, find out the mode of financing that they intend to use.
You probably have been in this home for more than twenty years. That is quite a long time and the roof could be leaking and generally, the house cannot be in that good shape. Thus selling it as it is could deny you lots of money. If it needs repairs and some renovations, then don’t advertise it- you will lose thousands of dollars for no reason. Get a professional to do the repairs, renovate the house, make it look new; this would improve the value of the house.
Do you want to sell your house fast in Jacksonville, you must consider every detail, no matter how negligent it may seem. Consider things you can do or avoid to get the most out of your home sale in the shortest time possible.