
For home sellers, it is essential to dedicate time and resources to streamlining your property for sale. Prepare for any challenges that you may encounter after you list your home, which can help you avoid costly mistakes.
Here are a few mistakes to avoid during your journey:
1. Under-Budgeting for Closing Costs
Closing costs can be expensive and may put a significant dent in your profits, if not estimated carefully. But good news, you can calculate your closing costs before you sell your home.
Consider all the expenses that your closing costs may include. From your attorney and other professional fees to excise tax expenses, you’ll want to account for all costs that may affect how much you’ll earn for your house.
2. Not Having a Concrete Price for Your Home
While your home may be in great shape, there’s a good chance you won’t get the original amount you paid for it. However, you can consult an appraiser to give you the true value of your home post-depreciation. They may also help you identify problems you can correct before adding your home to the market.
Don’t forget to check out the prices of comparable homes that are available in your area. This will provide you with some market data that you need to price your home with a competitive edge.
3. Falling Prey to Fatigue and Bias
Listing your home can be stressful and tiresome. Don’t give up. There are ways to ease the strain.
Set realistic home selling expectations from the beginning of your journey. Monitor the market, learn the lingo, do your due diligence, remember to take mental breaks here and there and keep your real estate agent close.
They will offer expert tips and recommendations, allowing you to understand the ins and outs of the real estate market. They also negotiate with homebuyers on your behalf, keep you updated on the status of your listing, host open houses and a broad array of other duties, including the paperwork.
Remember, while the process can be tiresome, you have support. Keep these three tips and your agent at the forefront of your mind, and the selling process will smooth itself out.