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Preparing for a Home Sale: Mistakes to Avoid

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Ideally, every house for sale would sell quickly and at a price close to the original asking price. That’s a seller’s dream. Unfortunately, houses often take months to sell, and sometimes they don’t sell at all. Avoiding some common home sale mistakes can help you sell your house quickly and get a good price for it.

Home Sale Mistake #1: Asking Too Much

It’s not easy to put a reasonable asking price on your home. After all, you want to get the best price possible for it. And since you’re likely emotionally attached to your home, it’s easy to see it as being worth more than its current market value. Unfortunately, if you price your home too high, some buyers will never even look at it.

An overpriced home for sale often sits on the market for months, forcing the owner to eventually lower the price anyway. And the longer a home is on the market without being sold, the more wary buyers are going to be.

To establish a fair asking price, research the selling (not asking) price of similar homes for sale in your neighborhood that have recently been sold. Your real estate agent can also provide an unbiased evaluation of your home and suggest a realistic asking price.

Home Sale Mistake #2: Failing to Stage and Show Your Home

Some sellers can lose thousands of dollars because they don’t take the time to stage a home for sale. With the possible exception of the most expensive houses for sale on the market, most houses don’t need a professional home stager. Most homes for sale just need a few simple cosmetic changes to get into marketable condition.

Thoroughly clean and organize each room, as well as the front and back yards. If they need it, paint the walls in a neutral color, and put any extra furniture in storage. Take family photos off the walls and pack away any other personal mementos, such as trophies.

If your home needs minor repairs, take care of those before you put your home on the market. You don’t need to completely remodel the bathroom and kitchen, but smaller cracks, leaks and faulty appliances are easily fixable and can drive down the value of the home if they’re not repaired.

Along the same lines, make sure your home is available for viewings at times convenient to the buyer. The easiest way to do this is to give your real estate agent a lock box so buyers can make appointments at any time. If you’re overly restrictive about the times available for viewings, you could lose the interest of potential buyers.

Home Sale Mistake #3: Rejecting the First Offer

Many home sellers reject their first offer immediately, thinking they should hold out for more money, keeping their house for sale on the market. But there’s no guarantee that another offer will come along in a timely fashion. Thoroughly evaluate each offer on your home for sale, especially the first one. If the offer is too low, suggest a counteroffer and see if you and the buyer can reach a price that satisfies you both.

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  • House Sale Staging
  • Preparing to Sell a Home
  • Agent or FSBO
  • The Selling Process