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Common Mistakes a seller makes when selling a home

September 11th, 2011 Leave a comment Go to comments

Mistakes a Seller Can Make

It does not matter if the “for sale by owner” home is your first, or one of several, there are mistakes that a seller can make that can be costly to the seller.

• One of the biggest mistake a seller can make is putting their home on the market before it is ready, which happens when the seller procrastinates against a date they have to move, and suddenly that date is only a few month away or the seller is just an impatient person. Make sure that any work that you want to do on the home is done before you put it on the market. Do not put it on the market while you are in the middle of painting the inside.

• Going overboard in improving the home for neighborhood with too many additions, or upgrades that will make the home stick out instead of blending in with the neighborhood. No buyer wants to live in a house that is known for some weird type of upgrade no other house in the neighborhood has.

• Do not put a price on the home based on what the seller want to net because this type of pricing strategy always seems to end in failure. You, as the seller, can control the asking price but you cannot control the sales price because the market does that for you.

• Do not get emotionally involved in the sale of the house because once you put it on the market, it is no longer your house, so to speak, but a commodity. The house needs to prepared, priced, and marketed as a commodity. The seller cannot get emotional if a potential buyer does not appreciate your house the way you do.

• Do not try to cover up or not disclose any problems with the house because state laws state that you must file out a disclosure form and list any type of problems. For example, if your home’s basement leaks and you do not disclose it, you can be sued for it.

• Not getting everything in order before you try to sell your home. Some of these things include making sure that you read the fine print on your current mortgage to make sure that you do not have any pre-payment penalties, not understanding the current market when you are pricing your home, making sure that you have the paperwork you are going to need for the sale, and more.

These are just a few of the mistakes that sellers who are selling their homes without using a real estate agent may mistake. The best solution is to make a list, go online and print out the things that you should do when you are selling your home by owner

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