Selling or buying a home can sometimes be as easy as cash and carry; other times, it could be as complicated a process as you can imagine. This is one reason why you need to be in proper shape to ensure that every stage of the buying or selling process is done properly to avoid undue loss or a mistake that could prove
costly. Here are some of the most common pitfalls when selling a home:
Hiring the wrong Realtor: Selling your home is something that generally needs a certain level of experience and skill to get you the best deal, hence, having a Realtor who can deliver on these is of utmost importance. Ensure to engage the services of a good Realtor when you want to sell your home and rest easy that you have a better chance of selling.
Overpricing: As much as you want to make some reasonable gain from selling your home, you have to take into consideration the amount of money that your property is actually worth. Overpricing a home will only lessen your chances of selling it as buyers might get discouraged. Check out the prices for which other homes similar to yours were sold or at best, hire a real estate agent to do a market survey for you. Also resist the temptation to make too much gain, as this might backfire in terms of potential buyers getting turned off.
Presenting an unprepared home: When people want to buy a house, they visit and check for cleanliness, and the overall condition of the house. Putting up a damaged or dirty house up for sale is not a good idea to begin with and it will almost always affect the sales process. Get the house prepared for sale by fixing any damages, cleaning up the house and getting it into top shape. Prospective buyers tend to envision themselves living in the space you have shown them; hence, they will always appreciate a clean environment and it might even tip their decision in your favor.
Here are some common pitfalls when buying a home:
Skipping inspection: Some buyers make the mistake of not inspecting the homes they intend to buy and end up with unpleasant surprises. Once a legal document is drawn, it might be really difficult to get a refund on money spent, and so you should inspect the home and be satisfied before making any payments for it.
Being lax on preparations: Making adequate research and preparation isn’t just unique to the seller but also to the buyer. Make market surveys and determine what is important to you -proximity to your frequently visited areas, environment, safety and other necessary considerations.
Ignorance of the running costs for homes: You should also bear in mind the post-purchase stage when you’ll have to once again pay to cover the costs of
maintenance, repairs, design, alterations etc. Knowing that the above-mentioned costs differs from one type of house to another is reason enough to find out just how much they would cost you annually.
For more information contact me, Justin E. Johnson