While you’re eager to sell your home quickly and at a high price, it’s easy to make mistakes that can prolong the sale or potentially hinder your ability to sell. Here are the six common mistakes homeowners often make when selling their property and tips to avoid each pitfall.

Overpricing Your House

One of the most common mistakes that cause homes to stay on the market for extended periods without any offers is overpricing. Overpricing can happen for various reasons, such as wanting the most financial gain from your asset, sentimental value clouding judgment, or trying to get a return on any money you may have put into the property. Unfortunately, pricing too high often scares away buyers and leads to your home sitting on the market for a long time, creating additional doubts in future potential buyers. The solution rests in utilizing your real estate agent. Consult with them to conduct a comparative market analysis and think competitively when determining the listing price. You should also research independently, but remember to be realistic.

Refusing to Negotiate When Selling Your Home

You need to remember that selling your home is a negotiation process and that you must be willing to compromise with potential buyers. Refusing to negotiate on price or other terms can upset buyers and prolong the selling process. Expect to negotiate if you receive an offer for your house that is different from what you’d hoped it would be. Sometimes, buyers won’t request a lower blanket price but will negotiate for repair requests or closing cost credits. It’s natural to think your asking price is more than fair, but at the end of the day, the only way to seal the deal is to get the buyer to feel like they are benefitting too.

Not Decluttering or Depersonalizing Your Home

Failing to make your property feel spacious and universally enjoyed by any potential buyers can cost you prime offers and is often the result of not decluttering and de-personalizing your home. When selling your home you need to create a space where buyers can imagine their own lives in your home. They need to be able to paint their future in each room without worrying about how cluttered the space can get. Get rid of items you don’t need anymore, remove oversized couches and other large furniture that crowds the room, clear out closets so they don’t look messy, and put away decor that displays too much personal detail, like family photos or memorabilia.  Empty surfaces don’t always need something on them; you can give your eyes a moment to rest.

Ignoring Repairs and Maintenance Issues

Ignoring maintenance issues and neglecting to make repairs can delay your closing if discovered during the home inspection. Fix any leaks, cracks, stains, or other problems to minimize potential buyers’ worries. A little TLC goes a long way. While you may have grown accustomed to a leaky faucet or a cracked tile floor, potential buyers will certainly notice these flaws. Failing to make repairs can lead to a lower home appraisal or deter potential buyers altogether. You’re better off fixing those cracks in the foundation or replacing the roof beforehand rather than having the buyer ask for credit because then you’ll have more say over who does the job and the total cost of the repair. Plus, newly replaced features become a selling point once the property is listed.

Failing to Disclose Issues When Selling Your Home

Failing to disclose issues or needed repairs can delay closing or cause a lawsuit if the problem isn’t caught before closing. Buyers appreciate transparency and issues addressed pre-sale to avoid future headaches. An inspection contingency can protect all parties if you can’t afford to make repairs before putting it on the market. It’s vital to be honest and upfront about issues, even if they aren’t visible to the naked eye or are minor. Sellers are required to note recent repairs, problems, and updates in the seller’s disclosure.

Let Us Help

Selling your house can be confusing and stressful, but avoiding these common mistakes can increase your chances of a smooth sale. Contact our team if you need a real estate attorney while selling your home; we’d be happy to help.