Time to get offers and sell the home, so put up the sale sign. If only it were that easy. While it might not seem complex at first thought, the process of selling a home has a number of aspects that sellers are required to consider to bring top dollar promptly.
As hard as it might be to believe, a small misstep may just wind up costing you thousands. Read on to discover the top five mistakes Diamond Bar home sellers make.
It Takes Money to Make Money
Underestimating your costs to list and wait for a sale is a common mistake Diamond Bar home sellers make. Naturally, there are actually costs involved in updates and adding curb appeal. Commissions, which hover around five or six percent of the final sale price, while usually the largest of the expenses, it can be advisable to get an inspection completed to enable you to be in the driver’s seat with regards to the needed repairs. When you list, there is no guaranteed closing date. Utilities and various other monthly expenses will continue until closing, a professional service for which sellers pay fees. You might also be asked to pay any property taxes which are nonetheless due and potentially capital gains tax. Marketing has risen to new heights in real estate, and the first walkthrough is usually virtual, which calls for professional services. Considering the emphasis on the property is in high definition, staging has also become a standard expense for all home sales, rather than just model homes.
Priced Out of Comparable Range
Overpricing through emotionally driven pricing, adding the value of your feelings, is another mistake Diamond Bar home sellers make. Furthermore, homeowners interested in their negotiations may become visibly upset, insulted by offers lower than their asking price, losing a suitable buyer. One other way overpricing happens is when sellers set an extra high price, assuming lower offers will come, and this is a costly game to play with pricing your home. Buyers seek homes by price range, and they can quickly assess your property, knowing that they can get more property from another seller for the same money. The properties most like yours and nearest your home that have recently sold will provide a more realistic price range. Note houses sold and the original listing price. You’ll see that overpriced homes linger on the market.
Disclose, Disclose, Disclose
The potential to be the costliest of mistakes Diamond Bar home sellers make is the information they disclose about the property, and legal ramifications could run into the thousands. First, disclose any concerns in the past that you corrected. Then, you’ll want to provide permitting paperwork, if any. In case you performed unpermitted work, you have to supply the details you do have. Including some problems or repair work from previous owners is another must. Together with everything else, you should also have any previous inspection reports. Finally, if there are any issues based on the water working its way into the home’s structure, from roof to foundation, leaking, rotting wood, or flooding of any type, be sure to include this in your disclosure.
The staging strategy has become commonplace for many reasons. The major one is increased final price with faster results without paying for a complete property update. Professional stagers create a neutral background and add a fresh look and smell with paint on every wall so that potential buyers get that new home feeling, easily envisioning themselves living in the home. However, stagers avoid absolute blandness by adding interest with pops of color through careful selections. Your belongings may go into storage in some cases, and the house refurnished to showcase the space’s full potential, including letting in the light through window dressings or lighting design. Not taking advantage of this sales tactic is a huge mistake Diamond Bar home sellers make.
Wrong Sales Method
Without reviewing all of your options, you’re likely to make one of the most costly mistakes Diamond Bar home sellers make, the wrong selling option. While real estate agents quickly come to mind when homeowners discuss selling, it can pay to take the time to explore all of the home selling methods that exist, including the costs, any projected timelines, and the stresses that may accompany the processes involved with each. Set out on paper the pros and cons of each technique, considering your specific circumstances, such as personal issues like a new job or family illness, facing heavy repairs, or financial complications causing pressure to sell quickly.
The professionals at Simplified Offer can help you avoid these and other mistakes. At Simplified Offer, making the process easier is our job, outlining each sales method to help you make the best choice to sell your home. Working with Simplified Offer means guaranteed fast cash closings, usually as-is. Call Simplified Offer at (909) 345-2196 or send us a message to learn more about saving time and money.