Top 5 Home Selling Mistakes That Can Cost You

Mistake # 1. Overpricing:

You obviously want to get the highest possible price for your home, but you won't be doing yourself any favors if you price your home higher than your competition. Buyers will instantly dismiss your property if they believe it's overpriced.

Instead, pricing your home lower than similar homes in your area will spark lots of interest in your home and could lead to multiple offers.

 

Mistake # 2. Not Prepping Your Home For Sale:

With the large inventory of homes on the market, today's homebuyer can afford to be choosy. That means you have a lot of competition and limited attention, so a clean, uncluttered and updated home is a must. You can do this by repairing things that are broken, giving the walls a fresh coat of paint, or invest in large upgrades. After you have done this, you should make sure your house is spotless. Dirty homes get lowball offers or none at all.

 

Mistake # 3. Sabotaging The Showing:

When touring a house for sale, buyers need to be able to focus, evaluate and determine if the home is right for them. The last thing they need is an overeager seller following them around and pointing out new kitchen appliances and recently renovated bathrooms. So give buyers some space! During an open house or home tour, take a drive or a walk around the neighborhood, or confine yourself to one room if you absolutely have to stay home.

Mistake # 4. Not understanding the terms of your real estate contract:

Real estate contracts can be complex and confusing, but don't let the fine print scare you. Before accepting a buyer's offer and entering into a formal agreement, review the contract carefully with your real estate agent or attorney.

Mistake # 5. Waiting Until Spring to Sell:

Sure, spring is traditionally the busiest time for real estate sales, but people buy homes 365 days a year. Plus, off-peak season buyers tend to be more serious, and fewer homes on the market means less competition for sellers.