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Knowing how to sell your house yourself is a critical skill. The sales process is pretty daunting, not to mention an emotional challenge. You’re inviting strangers into your home so they can look around, see everything, and criticize the place you have called home for years. All in the hopes that they will buy it for themselves. Understanding what not to do well selling a home is as important as knowing what to do. There is a difference between selling your house at retail prices and wholesale prices.
Avoid Becoming Emotionally Attached
After deciding you are going to sell your home you may want to think of yourself as a business person and not a homeowner. Look at things from a financial perspective to become emotionally detached from the process. Hallmarks of emotionally driven decisions are influenced by fear, obligation, and guilt. Some buyers will try to use any means possible to influence you in their favor. A savvy realtor can buffer you from many of these tactics.
Think about how you felt when you bought the home. Buyers are going to be just as emotional as you are. Keep in mind that you’re selling more than a home; you’re selling someone’s dream. Take the time to spruce up the house a little to improve the value of the property while also detaching yourself from the home you knew. A house that is clean and organized always sells faster and for more money.
Avoid the Mistake of Not Hiring an Agent
While hiring an agent can add to the cost of selling a house, it is an investment well made. Agents can help to set the right price for the house to boost your chances of selling quickly for a profit. Agents can also deal with buyers for you to help you stay objective. Having them around makes it easier to deal with the emotional aspects of selling a house.
Agents are also better at negotiating a price for houses for sale in Cape Coral FL. They know the market and can help to get more money than you’d expect. They’re also on hand to take care of any potential problems, including filling out paperwork.
Avoid Asking for Too Much
Homes for sale in Cape Coral FL will only sell if the price is right. Perform a comparative market analysis (or get an agent to do it for you) to get a better idea of how much your home is worth. Over the last two decades research shows that sellers consistently undersell their property without professional help, but this is something best discussed with an agent. Your situation may be unique and different.
With that said, overpriced homes rarely sell. It’s always better to have offered to turn down or negotiate rather than down. Setting the price a little too low also increases the potential pool of buyers as people look for properties based on a price range.
Don’t Expect the Asking Price
You shouldn’t simply expect the price you set to be the price you get. You need to be priced competitively for the current market. Competitive tension will allow you to have options in dictating terms. Savvy buyers will always try to negotiate. If you are priced correctly you’ll have the leverage to get the best price and terms. Set a strategic price with the help of an agent – or after hiring an appraiser – and be prepared for the negotiation process.
The kind of market you’re in – a buyer’s or seller’s market – can also influence your ability to walk away with the amount you want. Aim to sell when the time is right if you can.
Have Good Quality Listing Photos
With so many people looking for Homes for sale in Cape Coral FL online you need good quality photos. People need to be able to get a good look at your home online. Having great photos also makes it easier to get more showings and get buyers into your home.
We always hire a professional photographer as an investment in the process. Hiring them means you are more likely to get the outcome you want. So, while they do cost money, they usually pay for themselves in extra interest in the property. Make them want to visit in person by making the property look irresistible online. Unless you have a large parcel of land, I think drones are counterproductive and a waste of money.
Don’t Hide Problems
The buyer is sure to discover any issues with their inspection, so there’s no reason to hide things. Either has the problem fixed before putting it on the market or offer it for under market value as a way to account for it. Don’t try to hide them.
If you are unsure of the condition of your house, it’s worth having an inspection of your own performed before listing the property. That way you can deal with problems and not be surprised when they are uncovered by the buyer. Different states also have their own disclosure rules and will require you to disclose problems to a buyer. In Florida, it is best to disclose all known defects on a property, and as a buyer always do a home inspection.
Don’t Sell to an Unqualified Buyer
Asking a mortgage lender for a pre-approval letter (or asking for proof of funds with a cash purchaser) is a necessary request. These offer proof that the person has the money they say they do and can buy the home. Selling to someone who has to sell their own home to buy yours can also be a mistake if you have to close by a set date. Sometimes the loan officer doesn’t do their due diligence and their letter is a waste of everyone’s time. Asking follow-up questions will help get to the bottom of the credibility of the letter. If you catch them lying, insist on a different mortgage preferably someone that is reliable and operates with integrity.
Final Thoughts
It takes a lot of mental, emotional, and financial preparation to sell a home. The more you understand the process and prepare for it, the easier time you’ll have dealing with it. Avoiding these mistakes will take you a long way towards finding a good quality buyer and selling your home for the right price.