Whether your team won or lost in the Super Bowl, one thing is generally known to be true: the weeks following the Super Bowl are traditionally considered the “kickoff” for the spring real estate season. If you are looking to make a move, now is a great time! Daunted by that thought? Don’t be!
Traditions Realty’s Vince Salvitti shares 12 things to avoid when selling your home to make the process stress-free AND realize your home’s maximum sales price.
- OVER-PRICING – Naturally, most homeowners want to maximize the profits on the sale of their home. Research shows over-pricing your home often results in a lower net price than you would have received if it had been listed at the appropriate price from the beginning.
- EXPECTING SAVINGS BY LISTING YOUR HOME “FOR SALE BY OWNER” OR WITH A “DISCOUNT” BROKER – Simply put, it is difficult to compete with the professionals. Saving money by listing FSBO is a fallacy.
- LISTING WITH FRIENDS OR FAMILY – Listing your home out of a sense of obligation will almost certainly be detrimental to the sale.
- GOING TO MARKET IN THE WRONG SEASON – Timing is everything. Determine the peak season for your area and list your home while the market is hot.
- DEMANDING A SHORT LISTING PERIOD – Is it a buyer’s market? Give them time. Listing periods that are too short often result in a lower sales price for your home.
- FAILING TO SHOWCASE YOUR HOME OR MAKE NEEDED REPAIRS – First impressions mean everything. Properly staging your home is vital. Ignoring this fact can cost you thousands!
- HIRING A PART-TIME OR INEXPERIENCED REALTOR – Any agent can show enthusiasm at the listing appointment. But, a truly experienced agent can add value to your home!
- HARD-SELLING A POTENTIAL BUYER – Buyers typically have a low comfort level when inspecting a potential home while the owner is present. Go to the movies! And, never negotiate directly with the buyer. Show your home often, but be scarce.
- FAILURE TO DISCLOSE – Knowledge is power. Educate yourself about the law and the obligation of a seller to disclose. Knowing the facts will save you money in the end.
- FAILING TO PROPERLY QUALIFY BUYER & THE LENDER CHOSEN – Too often, unqualified buyers enter into contracts without the appropriate support of a reputable lender. Do your homework. Unqualified buyers and disreputable lenders can delay and even cancel a transaction.
- IGNORANCE OF THE RIGHTS, RESPONSIBILITIES AND OBLIGATIONS OF A BINDING CONTRACT – Again, do your homework. Being uninformed about these often complex and confusing factors could cost you a considerable sum of money.
- IGNORANCE OF TITLE, TAX, PAY-OFF AND LOCAL GOVERNMENT ENFORCEMENT ISSUES – Know the law. Once your home is under agreement, a process begins. Avoid surprises that can cause unexpected expenses or stop a settlement at the last minute!
Traditions Realty has assisted over 1,200 customers since 2008. Its unique services are offered with each sale, whether you are purchasing contingent on selling your existing home or purchasing non-contingent. It’s simply a matter of which program works best for you, HomeFree or HomeAssist. These programs provide an array of services and benefits, all designed with one goal in mind: maximizing the sale price on your existing home & minimizing risk. Visit our website to learn more.