Jan
21
2020
Real Estate

5 Common Mistakes when Selling a House you should Avoid

David Saba
David Saba
4 minutes to read.

Are you making the right decisions when it comes to selling your home? There are some common mistakes when selling a house that costs you time and money. They’re frustrating because they seem like the right decision when you’re making them. Yet, time and time again, home sellers find themselves stuck. You can avoid that feeling by simply recognizing these mistakes.

Are You Making These Common Mistakes When Selling a House?

1. Sell It Yourself

It seems easy enough to sell your home on your own with all of the tools and resources online. The problem is, you’re not an expert with years of experience. You may not have the time to dedicate to working with home buyers or the data to get the home’s marketing just right for a fast sale. It’s going to cost you significantly upfront to market, stage, and pay for title services. Selling it on the traditional market on your own is one of the biggest mistakes when selling a house as a result.

2. Underestimating the Cost of Selling

Selling a home on the traditional real estate market is expensive. It doesn’t seem like that – after all, you may just be signing a document with an agent. However, you may have to pay for repairs. FHA inspectors, which your home buyer may elect to use, may point out dozens of problems that you’ll have to fix, or you’ll need to walk away from the contract.

You’ll also need to consider staging the home for sale, storing of your belongings while you wait for the home to sell, and more. You’ll also need to continue making mortgage, tax, and insurance payments until the home sells.

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3. Pricing It Wrong

How much is your home really worth? It’s a big question because you’re invested in it. You think your home is worth much more than what the market will pay – in some cases. If that’s the case, you’re missing key buyers outside of that price point. On the other hand, you could be pricing it too low. That’s a surefire way to lose money. Getting just the right pricing is essential.

It’s helpful to work with an agent who can guide you in setting a price. Yet, even in this situation, you’ll likely see price adjustments over the months it’s listed for sale.

4. Not Selling to a Real Estate Investor

Some homeowners don’t recognize there’s another potential buyer in the room – the real estate investor. This is a professional who can step in, provide a fair offer on the home, and get you out of the home fast, often within a matter of weeks. A real estate investor’s goal is to modernize, update, and market your property for a profit. However, you’re saving money, too. There are no costs for:

  • Staging
  • Repairs
  • Marketing
  • Sales agents
  • Insurance
  • Mortgages
  • and so on…

5. Staying in a Home Too Long

Another of the key common mistakes when selling a house you should avoid is this – remaining in a home that’s out of your budget, costing you money, and leading to frustration. You’re listed for sale. It’s taking forever. That whole time, you’re living in a state of stress. You don’t know what’s coming next. That’s a situation you do not have to be in.

Instead, consider the advantages of selling faster, perhaps to an investor who is ready to work with you right away. Don’t sit and wait for the perfect buyer. No one will love your home as much as you do. No one will overpay to buy your home. Sometimes, moving on makes the best financial sense.

You Have Options When It Comes to Selling Your Home

You can request a cash offer from SellHouseFast to find out how much you can sell your house for. Our team is happy to answer all of your questions and make selling your home easier.

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