Selling a home can be both an emotional and financial process. You’re making a big decision and want to get the best return on your investment. However, it’s important to be aware of common pitfalls that can cost you time, money, or even your desired outcome. We asked an experienced cash home buyer in Kansas City to share some mistakes people tend to make when selling their property.
One of the biggest mistakes people make is trying to sell their own property without the help of a real estate professional. You’ll need an experienced agent who knows the area and can help you navigate the process from start to finish. A professional will do market research, find potential buyers, communicate with all parties involved in the transaction, negotiate on your behalf—the list goes on.
However, it’s worth noting that all real estate professionals don’t have the same knowledge or experience. So take time to do your homework and find someone who is the right fit for you and your home.
Pricing Too High
When pricing your home, it can be tempting to set an aspirational price that reflects what you’re hoping to get from the sale. Though this might seem like a smart move, it typically creates more headaches than anything else.
It’s important to price your home realistically. Do some research in the area and compare similar recently sold homes. That will give you a good idea of what buyers will pay for your property. Always err on the side of caution and price it at or slightly below market value.
Not Preparing Your Home
When preparing your home for sale, you’ll need to take steps that will attract potential buyers and make them want to put in an offer. That means staging it, cleaning it, and making any necessary repairs. You may even want to paint or update certain features.
These can be time-consuming and costly steps, but they’re often necessary to get the best price for your home. Don’t skimp on this part of the process—it will pay off in the long run.
Ignoring Legal Requirements
Every house sale is subject to legal requirements, so it’s important to ensure all the paperwork is in order before you try and sell your home. That includes ensuring that all property documents, including titles, deeds, and any other relevant paperwork, are up-to-date.
It’s also important to familiarize yourself with all applicable laws. Your real estate agent can help you with this part of the process. Failing to do this could lead to costly legal issues down the line. This may include delays in the sale or even loss of your deposit.
Waiting for Home Selling Season
Any shrewd home seller knows that timing is everything. It’s easy to assume that you’ll get the best price if you wait for peak home-selling season, but this can actually be a mistake. Demand and prices may vary throughout the year, so it’s important to do your research and understand the local market. While there may be some advantages to waiting until the spring, don’t be afraid to put your home on the market at any time of the year.
By avoiding these common mistakes and working with an experienced professional, you’ll be well on your way to successfully selling your house at the best price. Good luck!