Selling your house can be an exciting time, but it also requires careful planning and execution. One wrong move can delay the process, reduce your offers, or even scare away potential buyers. Here are 23 crucial things to avoid before listing your home for sale:
Ignoring Market Value
Putting your home on the market is one of your most significant financial transactions. Naturally, you want to get the most out of your investment. However, many sellers get emotionally attached to their homes and set unrealistic asking prices. You should get a comparative market analysis (CMA) from a qualified realtor to determine a realistic listing price.
Pricing Too High
An overpriced home will sit on the market, deterring serious buyers. When buyers see houses that have been listed for extended periods, they assume there might be underlying problems that delay the whole process. Be prepared to be flexible in negotiations and focus on getting as many people as possible to view your property.
Not Factoring in Closing Costs
Closing costs can amount to a significant portion of the sale proceeds, usually between 6% and 10% of the selling price. This can include realtor commissions, loan payoff fees, title insurance, taxes, and other charges. Ignoring these costs can leave you with a much smaller profit than anticipated, so factor these in when crunching the numbers.
Neglecting Your Lawn
First impressions count when selling houses, so ensure your house has curb appeal. A neatly mowed lawn with trimmed edges and landscaping will attract buyers looking for a well-maintained property.
Neglecting Exterior Maintenance
It is not just your lawn that gives your house curb appeal; you should also pay attention to the home’s exterior. To please buyers, fix peeling paint, replace broken gutters, and clean exterior surfaces.
Forgetting the Front Door
A welcoming entrance to your home is essential. If your door looks like it needs a little TLC, a lick of paint, a fresh doormat, and a porch light will go a long way. You may even want to add a seasonal wreath to make your door look extra attractive.
Not Decluttering
Decluttering is essential if you want to sell your home quickly. When potential buyers see your home looking messy, there will seem to be insufficient storage space, which will generally put people off. Pack away personal belongings and knickknacks so buyers can envision themselves living in the space.
Ignoring Deep Cleaning
In addition to tidying up, you should thoroughly clean your home, from top to bottom. Buyers won’t overlook grime or lingering odors, and bad smells are likely to remain in their minds when considering bids for properties.
Depersonalizing
While decluttering and removing some personal items is recommended to sellers, try not to depersonalize too much, as it will make your home feel cold. Try to strike a balance by keeping a few tasteful throws, pillows, or centerpieces to make your house look homely.
Furniture Faux Pas
Cramming too much furniture into rooms will make them look small and overcrowded. Most buyers want to see the amount of space they will be spending their money on, so try to showcase each room’s functionality and flow.
Ignoring Major Issues
If your home has underlying problems such as mold or roof damage, don’t try to hide them. Before putting your home on the market, you should address major issues, and if that is not possible, be upfront about what will need fixing when the sale is completed. Any issues found in the buyer’s survey will affect the asking price, so you will end up losing money anyway.
Neglecting Minor Issues
Minor annoyances like dripping faucets, squeaky doors, or flickering lights should also be seen before you host an open house. These minor problems can create a negative impression and will only take a few hours to fix.
DIY Disasters
Unless you’re a skilled handyman, you should leave repairs to professionals. Shoddy DIY work can backfire and raise red flags for buyers. People want to see a well-looked-after home that looks ready to move into and easy to maintain.
Being Inflexible with Showings
Try to accommodate potential buyers’ schedules as much as possible. The more showings, the higher the chance of a quick sale. People have busy lives and will appreciate your flexibility, potentially leading to a sale.
Leaving Pets Unattended
Pet odors can be a major turn-off for potential buyers. Even if you think your home has minimal pet smells, lingering odors can be noticeable to visitors. It is best to ask a friend or neighbor to watch your dog while you show your home and ensure you carry out a deep clean to eliminate hairs and odors.
Lingering During Showings
Buyers want to feel comfortable exploring the house at their own pace and discussing it openly with their partner or realtor. Your presence can pressure them to rush through the showing or hold back on honest conversations.
Poor Photography
Poor photography will not only limit the number of people booking in to view your property, but it can also devalue your property if it is left on the market too long. It is also important not to make your photographs too unrealistic, as potential buyers may be disappointed that your house differs from the pictures.
Forgetting Legal Requirements
Undisclosed legal issues, like outstanding liens or zoning restrictions, can surface during the inspection or title search, derailing the sale or forcing renegotiations. Discuss the selling process with a real estate lawyer familiar with the legalities involved in your area. They can advise you on specific requirements and potential pitfalls to avoid.
Not Having the Paperwork Ready
If you haven’t gathered all the necessary paperwork beforehand, such as title deeds, property surveys, or permits for renovations, the closing process can grind to a halt. This can frustrate you and the buyer, potentially leading to them walking away from the deal.
Getting Attached to Offers
If you become fixated on the first offer you receive, you might miss out on a potentially better offer from another buyer. It’s important to consider all options on the table before making a decision.
Taking Offers Personally
Negative feedback can sting but try to view it as constructive criticism and make changes if the feedback is consistent. Lowball offers, or negative feedback can sting, especially if you’re emotionally invested in selling your home for a specific price. Reacting defensively or taking offense can make you appear unreasonable to potential buyers.
Rushing the Process
Skipping a proper market analysis to determine the fair market value of your home can lead to underpricing. You might end up leaving money on the table by selling for less than your house is truly worth. Rushing the listing process might mean skimping on marketing efforts. A well-presented property with high-quality photos and virtual tours can attract more qualified buyers and potentially lead to a higher selling price.
Ignoring Negotiation Tactics
Buyers often come in with lower initial offers, expecting negotiation. Ignoring these tactics and refusing to budge on price can lead to missing out on serious buyers who might be willing to pay more with some negotiation.
Hiring the Wrong Estate Agent
The wrong realtor might not have the experience or expertise to create a compelling marketing strategy for your property. This can limit exposure to potential buyers and hinder your chances of getting the best price for your home.