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If You Are Selling Your Home, Don’t Make These 5 Mistakes

indexEveryday we help people all over Middle Tennessee buy and sell homes.  We have the privilege to educate these buyers and sellers on best practices when it comes to positioning themselves to make a deal.  Unfortunately when it comes to selling a home, we’ve seen far too many sellers do things that end up costing them precious time and money in the long run.  Here are five things you should be aware of when it comes to selling your home.

1. Testing the market without preparation

Many sellers, especially in a hot seller’s market, are tempted to put their house on the market to see what it might fetch.  If you aren’t serious about selling your home, this isn’t always a good move.  If your home isn’t properly prepared with fresh paint, neutral colors, repairs made, etc then it can quickly get a reputation for a “problem” house.  This could lead to your home sitting on the market for longer than expected and damage the public’s perception of your house.  Your best bet is to prepare your home for selling, even if you are going to test the market and then be prepared for the next steps in case you do receive a favorable offer.

2. Not being honest

When it comes to selling your home, honesty definitely is the best policy.  You know your home better than anyone else, including inspectors who can possibly miss something during the inspection process.  If you know of a problem or potential problem such as mold, termites, leaky faucets, etc – it is in your best interest to make these things known.  Withholding information could not only cause your deal to fall through, but if it did go through and it was determined you knew of a problem beforehand you could face a potential lawsuit.

3. Setting the wrong price

Many times it’s tough to negotiate pricing when it comes to the place where your children took their first steps or the place where you hosted numerous backyard barbeques.  With that being said, you should try and put your emotion aside.  Ask your trained realtor to help you determine a price that will bring you the best results.  Setting an unrealistic price will lengthen the selling process and could end up costing you money in the long run from multiple price drops.

4. Forgetting about the outside

Have you ever heard the expression, “can’t judge a book by it’s cover”?  While that maybe true for people and books, it’s not necessarily true for houses.  You’d be surprised at how many window shoppers pass by when a home goes on the market.  If the outside of your house looks unkept, it can put off a negative vibe to would be buyers.

5. Not thinking about the buyer

If you have kids and or pets, you have to keep in mind that potential buyers may not.  While Sally’s room is cute with the pink and white stripes, this would not be appealing to a retired couple looking to downsize.  Likewise, Fido’s favorite rug in the play room could produce an unpleasant smell that could be a turn off to would be buyers.  Changing rooms to a neutral look as well as keeping pets away during showings are things that will be in your favor.

If you are thinking about selling your home, feel free to let one of our qualified realtors help you develop a strategy that will get buyers lining up at your door.

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Our agents write often to give you the latest insights on owning a home or property in the local area.