For most American families, their house is their most valuable asset. However, recouping that value by selling the home is a challenging endeavor. One of the benefits of working with an experienced realtor like Copeland & Co. is getting expert advice on how to get the best deal when selling your house. Selling a home is difficult on its own, but homeowners often increase the challenge by making common mistakes. Here are four common mistakes homeowners make when selling a house.
Only Looking at the Largest Offers
Naturally, homeowners want to get as much as possible for their house, but other factors need to be considered. The highest offer may not be the best offer if time is a factor. Top offers may come with contingency conditions that must be satisfied for the sale to close. For example, there may be contingencies that protect the buyer’s interests like a financing contingency or an inspection contingency. These contingencies can make a sale take longer or affect the certainty of the sale. For some sellers, it may be worth it to take a lower offer with fewer contingencies. For example, it’s better to sell at a lower price to someone who wants to buy the house as-is rather than get a higher price from someone that wants a credit for any repairs. Homeowners need to consider every offer and not just look at dollar amounts.
Neglecting Major Repairs While Making Costly Renovations
Most home buyers are mindful of any maintenance issues in a home for sale. Many banks require inspections before approving a home loan. Maintenance issues will decrease the value of your home on the market, and these issues will turn off some buyers entirely. Before putting a house on the market, homeowners should prioritize repairing problems that are likely to turn up during a home inspection. Repairs are more important than renovations. Also, homeowners need to think carefully before spending a lot of money on renovations. They may not recoup the cost of the upgrades when the house sells. Furthermore, some buyers prefer to make their own renovations to personalize the space. Speaking to an experienced real estate agent from Copeland & Co. can help you decide which repairs need to be made and which renovations will have the best effect on a house’s sale price.
Setting the Price Too High
Selling a home is the one chance a homeowner gets to recoup the value of their investment in a house. Understandably, sellers want to get as much as possible for their home, but it’s essential to set a realistic price. Because emotions and wishful thinking can influence sellers, it’s essential to have an experienced, expert valuation of the home. Copeland & Co. has years of experience in the Florida market and knows what comparable homes in your area have sold for. An overpriced home takes longer to sell because it scares away buyers. Selling your house at the right price range will help it get noticed by agents and house hunters. With the right price, you’ll get more legitimate offers, and it’s more likely that the house will sell near the asking price.
Too Many Personal Items in the House
Part of the process of selling a home is getting buyers to see themselves living in that house. While you want the house to look natural, having too many personal items can make it harder for the buyer to picture the house as theirs. To make that personal connection easier to make, homeowners need to depersonalize their home. Sellers need to remember that psychology is as much of a factor in home sales as proper pricing and marketing. Many factors go into staging a home to make it easier to sell. Copeland & Co. can help homeowners create a living space that’s more attractive to shoppers.
If you’re looking to buy or sell a home in West Palm Beach, Copeland & Co. can help. We have a different approach to buying and selling that helps our clients get the best value from any transaction. Send us a message online to discuss your real estate needs.