Selling your home can be filled with speed bumps and frustrations. The procedure can be both time-consuming and emotionally exhausting. Having strangers tour your home can feel like an invasion of privacy. Not to mention how upsetting it might be to hear criticism of the place you have called home. When the first low offer arrives, the whole experience might become daunting. Liberty House Buying Group is a well-known local house-buying company that buys properties in Florida for cash.
They purchase properties in Florida in any condition or situation and can work around your schedule. They understand the challenges that many of their clients endure, irrespective of market conditions, and promise a stress-free experience so that you can move on to the next chapter of your life with confidence.
Avoiding these ten home selling mistakes will save you the stress of selling a house and a lot of time and money.
1. Be careful when choosing a real estate agent
They’d definitely make your home selling process less stressful but some real estate agents can be difficult to work with. Trying to offer terms that are not particularly achievable considering how volatile the market can be are some of the challenges you might face with a traditional agent.
This is where the liberty house buying group comes in. Enjoy a seamless process when you hire a home-buying company to deal with the stress of selling your house.
Although real estate agents charge a hefty commission—usually 5% to 6% of the sale price of your home—when you hire a real estate agent who enjoys what they do, they will find great satisfaction in making the home selling process a positive experience for you.
They will know how to avoid common mistakes. An agent can also help by connecting with potential buyers and weeding out tire kickers who want to look at your house but do not intend to make an offer.
2. Selling at the wrong time
The best months to sell a house are in the spring and summer. Winter, particularly around the holidays, is often a slow season for home sales. Typically, the home market is not as active as during the spring and summer months.
With fewer buyers, you have a lower chance of receiving numerous bids. So you might actually be better off waiting. Unless special circumstances cause you to sell during the winter or holidays, consider listing when the weather begins to warm up. People are more likely to buy a home when the weather is warmer.
3. Setting an Excessively High Price
One of the biggest home selling mistakes is setting an unrealistic price for your house. Whether you deal with an agency or go alone, setting the correct asking price is critical. You may believe your property is worth more but set a reasonable price based on comparable homes in the neighborhood. It would be best if you also had your agent perform a comparative market analysis.
4. Restricting Access to Showings
It’s usually a deal-breaker if a potential buyer can’t inspect/access the home being sold when needed. You should avoid showing restrictions to prevent losing interested clients.
More importantly, the home should be kept tidy and available for inspection. A buyer won’t notice or care if your house was spotless the week before. It’s a lot of work, but keep your eye on the goal.
5. Deciding to make major repairs or costly renovations
Don’t spend too much money on renovations because you want to raise the valuation of your property. The problem is in finding the right balance between a minor and major fix. For example, trying to renovate your whole kitchen set-up, what if the prospective buyer likes the current arrangement? You could just fix a leaking sink pipe or a broken kitchen cabinet.
When considering selling your house, it is best to perform repairs and quick improvements. This is a significant purchase for the buyer, so minor flaws in your home can raise red flags.
You have three choices for dealing with any problems. You can solve the problem ahead of time, price the property below market value to account for it, or advertise the property at market value and offer the buyer a credit to fix the problem.
6. Are you prepared to move?
You can’t be planning to sell your home and not have immediate relocation plans in place. Information spreads fast and a potential buyer would rather go for an unaccommodated listing after closure rather than one still fully occupied even after the sale. You shouldn’t put your home up for sale if you’re not fully prepared to move out.
From the minute you decide it’s time to move and sell your home, you must have a well-thought-out strategy in place to know what to do after each step, from home preparation to the last box packed. You must vacate your home by the day of closure.
7. Considering the highest price
One common real estate mistake is focusing solely on the highest offer, which, while thrilling, isn’t always the best offer given your demands. Contingencies are common in many traditional sales.
These are the requirements for the sale to be completed. You may include contingencies safeguarding the buyer’s interests, such as a finance or inspection condition.
8. Being emotional
When selling your home, it’s easy to become emotional. You have taken time and effort to select the right one, saved up for the down payment and furniture, and made a lot of memories. Yet, when it comes to saying goodbye, most people struggle to keep their emotions in check.
So, when you decide to sell your property, consider yourself a businessperson and a salesperson rather than just a homeowner. Forget that you are the homeowner.
9. Negotiating a price
Negotiations are generally arduous. All parties involved are hoping to get the best deal possible. The struggle is usually trying to arrive at the right valuation, especially if you’re handling the process yourself. A buyer will try to cut down your asking price. This could be in the form of faults and renovation costs.
It’s advisable to contact a professional realtor to help you manage, negotiate and close. Of course, reaching common ground is the basis of all negotiations. A transaction is defined as giving a little and receiving a little.
10. Having Proper Insurance
With all of the guests who will be on your property for inspection, you should ensure that you are covered in case of an accident. You should also ensure that any obvious property risks are repaired or mitigated.
Now that you are aware of these common mistakes, the plan is to make sure the transaction is as seamless as possible and, of course, prepare you for any speed bumps. In the end, both parties want to reach a mutually beneficial agreement.
You can also avoid mistakes and enjoy a faster and simpler selling experience than listing on the open market. Learn more about how selling your house in Jacksonville, Miami, Orlando, Tampa, and all over Florida directly to Liberty House Buying Group can help you avoid the stress and uncertainty of the traditional process.
