Selling your house can be a very complicated process, especially if it is your first time doing it. For those with the experience, you would already know most of the process. Many of those who wish to sell their house would use a real estate agent to help them handle the sale. It could cost quite a lot but it would save so much time and effort because these agents are already well-trained in the process, it would be smooth sailing for most part if you choose to use real estate agents. Through real estate agents, the time it takes for the house to be sold would be lessened and you can get the money faster which can be so important depending on the circumstances. To ensure a better process in selling your house, these are the three mistakes to avoid when selling your house.
1 – Unrealistic Price
Do not set an illogical price for your house. It is crucial to set a suitable asking price to further increase the odds of selling your house. Using the comparative market analysis that you did with your agent when you first bought the house to determine a fair offering price, buyers would do the same for your house and if your house is overpriced, it won’t sell. You would then settle into a long wait whereas if you had sold the house fast, then you can use the money. If you put the house under the fair price, do not worry because there will be multiple offers generated and people will bid the price up. If you are lucky, it would even go above the fair asking price of the house. You can even use this as a strategy to increase the interest on your house.
2 – Only considering the highest offer
Accepting the highest offer given is not always the best option to selling your house. In many traditional sales, you will find contingencies. In other words, you would need to satisfy these conditions for the house sale to close. Some contingencies can be done to protect the buyer’s interests, such as financing contingency and an inspection contingency. These contingencies can affect three factors. The certainty of the sale, the timeline of the sale and the complexity of the sale. If someone offers a high price with the condition that the buyer first sell their existing house, it is important that you consider the added timing and insecurity of that and compare it to a lower offer without that contingency. It can affect the sale of your house greatly, thus, make a wise decision.
3 – Ignore major repairs
You must make sure that your house has as little maintenance issues as possible so that more buyers would be interested in your house. Imagine yourself to be a buyer and there are two houses you are considering buying. One has a long list of maintenance issues and one only has a small number of maintenance issues. It is unavoidable that the house with the long list of maintenance issues would have lesser possible buyers. Hence, make sure your house has the minimum amount of maintenance issues because then you can describe your house with top conditions. This is important especially if your house has major repairs needed to be done so that when the buyers go for a home inspection, they would be satisfied because the house’s condition matches the description. check out this link to find out more about vehicle signage.
These are the top three mistakes to avoid when selling your house. These mistakes are easy to avoid when you have a real estate agent to advise you along the way. Selling a house is not easy but buying is even harder. Real estate prices can be so high nowadays, especially in cities like Johor Bahru so be considerate when you sell and buy.