The real estate market is constantly changing, which can make the whole selling process a bit intimidating. If you are about to put your home up for sale, you could make a costly mistake that prevents you from making the best deal. In this article, you will learn five of the mistakes you don’t want to make when selling your home, the last thing you want is a house repossession due to a non sale.
Neglecting Major Repairs
Major repairs such as a new roof, energy efficient boiler and thermal windows should happen before you put your home on the market for sale. Letting these major repairs and upgrades slide is a sign of neglect that no prospective buyer wants to deal with. In the end, it will be more expensive not to repair and modernize major items before you sell.
Not Making Minor Repairs
You may be leaving money on the table if you are not at least giving your home a coat of paint, fixing any dings, scratches or marks or even updating light fixtures and flooring. Frankly, most buyers are not looking for a fixer-upper. Having a budget for minor updates and repairs before you list will definitely increase your chances of a quick sale. Doing everything possible to maximize the appearance of your property before you sell is more valuable than you know.
The housing market has highs and lows just like any other business. Spring is the best time to list, with the market flooded with people looking to update their homes. Nobody seems to want to move house in the autumn or winter, so avoid listing during this time of the year. If your own personal timing makes it necessary to list your home during a lull in the market, you may be in for a longer sale time and an unfortunate drop in your asking price.
Your Marketing is Bad
The old saying about a picture being worth a thousand words is still true, even in the digital age. Make sure your marketing has plenty of high-quality photos in the listing information. Without the right photos or enough photos of the property, potential buyers can lose interest. Make sure the photos highlight all the good things about your property, with special attention to lighting and staging to remove clutter and personal items.
Listing with an agent or going it alone, make sure you put your emotional attachment to the property to the side and be realistic about the price you set. Do a comparable analysis of the market value of homes in your neighbourhood, just as if you were in the market to buy yourself. Remember, even during a housing bubble, overpriced homes do not attract buyers.
At the same time, undervaluing your home can make buyers suspicious that you have something to hide. Having the opposite effect of a quick sale, this can lead to your property sitting on the market too long while buyers pass it buy, wondering what could be wrong with it.
An easy, stress free alternative to all this fixing, timing and pricing is to sell to a cash buyer like Speed Property Buyers. A cash buyer does not care what time of year it is or the condition of your property, they will pay you cash for your property right away. Best of all, cash buyers are completely free, with no legal fees or contracts. Before you go through all the hassle of listing your home on the wider market, consider our small, friendly buying team as an alternative. We are founding members of the NAPB and members of The Property Ombudsman, so you can be sure of an honest, transparent process and cash in hand.