The preparation process for selling a house does not just involve cleaning and renovating. It’s a complicated process, which sellers often take lightly. There are some practical and legal considerations that most sellers don’t know about. These considerations are what lead to simple mistakes. This can sink down the sale and create a bad name for the seller, as well as for the house on the market.
Think about it objectively rather than subjectively. If you get your feelings involved, you might never be able to sell the house. It’s important that you look at all the things strategically and then make a list of repairs that will make a huge difference in the sale price. Following are five mistakes that you need to avoid when selling your house:
1. Setting a Price Higher Than Market Value
The thing with market value is that everybody knows it. By setting it low, you have an element of surprise that will attract buyers towards you. This way you will receive multiple offers. The higher the price, the longer it will be on the market. People won’t even have a look at it if they don’t see something different in it in the first place and that is the price.
2. Overspending on Upgrades before Selling
Just because you upgraded the kitchen with the state of the art appliances and modern designs, does not mean you can sell the house at a higher price. Making significant changes such as insulating the roof, cleaning drain pipes or installing a window or two in the attic are definitely plausible changes. However, renovating the kitchen is a waste of money and it’s a guarantee that you won’t get the entire investment back in the sale price.
3. Fibbing on the Seller Disclosure
A seller disclosure is a document where the owner is asked to complete a checklist about certain aspects of the house. Lying on this can cause problems before and after the sale. It’s possible that when the buyer learns the truth, they will back out of the deal and if they find about the lies after the sale, they will seek restitution.
4. Not Hiring an Agent
Most buyers are reluctant to buy a property if a real estate agent is not involved. Taking everything on your own can be risky and you might miss covering some legal points in the paperwork. You might have to give a small commission to the real estate agent from the sale but it will be safer to have a professional on your team.
5. Discarding Expert Advice
No matter what advice you get from your real estate agent, take it seriously and think about it before making a decision. These people have sold hundreds of houses, and neglecting their advice might put a strain on your sale price.
As mentioned earlier, a list of repairs will give you a good start in the sale process. Do not try to upgrade the house to the point where you can’t think about objectively or subjectively. Want to know the current sale prices of houses in Sandy Springs, GA? Then visit http://www.kstrealty.com/ and check out the listings.