Selling your home is a big decision, as it will affect you in many ways regarding your personal life and finances.
While selling your home sounds simple enough, there are potential challenges lurking around every corner. Here are five pitfalls to avoid when selling your home:
- Going at it alone: Yes, you have the opportunity to sell your home by owner, but doing so puts every decision squarely on your shoulders. And since you don’t have advanced knowledge of the real estate market and real estate laws, you’re at risk of making mistakes along the way.
- Overpricing your home: There is nothing wrong with wanting to get as much money as possible from the sale of your home. However, if you actually want to sell your home in a timely manner, you need to price it accordingly. A deep dive into the state of the market in your area will help you understand where to price your property.
- Neglecting to prepare it: You want your home to show well, so you should prepare it accordingly. For example, you could hire a professional staging company to get the interior of your property up to par. And when it comes to the exterior of your home, do whatever you can to enhance its curb appeal.
- Forgetting about closing costs: Remember, the amount of money you sell your home for isn’t the amount you’ll actually net. There are a variety of closing costs that’ll come into play, including real estate agent commissions.
- Ignoring simple repairs: If you know of anything in need of repair, consider tackling the job before selling your home. This makes the property much more desirable to buyers, as they won’t have to manage the repair process upon moving in.
When you avoid these pitfalls, you’ll find it easier and more enjoyable to sell your home. You could still run into a roadblock every now and again, but there’s nothing you can’t overcome.
Should you come face to face with a legal setback, such as one related to a contract or disclosure, learn more about your legal rights and the steps you can take to protect them.