If you thought the home buying process was a complex process, think again! Surprisingly, selling your home in Houston can be equally time-consuming. That’s not all! It can be highly emotionally daunting, especially if this is your first time. For some, it might feel like a privacy invasion since you have to allow strangers in your home, open the closet and cabinets. In simple terms, you have to let them poke around. Not a good feeling, isn’t it? And when they start criticizing your home, its roof, and offer price less than its worth, you begin feeling astray. If you are also new to this home selling process, making mistakes is common. But don’t let that make the home selling process even more emotionally and physically tiring. Read on to find out the common mistakes when selling your home and how to avoid these pitfalls to get the best possible price of your home within a reasonable time.
It’s understandable. You lived in a house for a fair amount of time. You spent a lot of effort to find this one and created a lot of memories. It might be interfering with the home selling process. You might be thinking it’s impossible to say goodbye. But, it’s not!
Once you think of selling your place, treat yourself as a businessman or salesperson rather than just a homeowner. If you start looking at it as a financial transaction alone, you can easily keep your emotions in check when you sell a house in Houston. Doing so will allow you to put in an extra effort when changing the image of your home during staging or carrying out some smaller remodeling to get the best price for your home.
Underestimating The Costs of Selling
There are a lot of factors that hold importance when selling your home. For instance, you’ll have to pay around 5-6% in agent commissions when you want to sell a house. And don’t forget to account for the closing costs, repairs, or other concessions to the buyers.
So, the final price you get is comparatively less than the sale price. For instance, if you have to move into the new home before selling the house, you will have to pay for mortgages for the properties, have to pay for utilities, HOA dues, taxes, and others.
So, make sure you take into account these finances when deciding to move before selling the home.
But here’s the catch! If you opt for homebuyers instead of a listing agent, you can save all these costs when you are looking to sell house in houston. In that case, you won’t have to pay for commissions or the closing prices.
Setting an Unrealistic Price
Whether you are taking the help of a realtor or doing it alone, if you don’t set the right price, your house won’t sell as fast as you anticipate. Remember, the price you wish for and what the market will pay are entirely two different things.
It’s like you’ve to find the sweet spot between asking too and too little. Otherwise, you might risk having your home sit on the market for a more extended period. This is where having a realtor by your side will be great. They will have an idea of how much the house will be worth based on the knowledge of the houses sold near you similar to your home.
Make the adjustments accordingly and set a competitive offer that will help you with your home selling process.
Not Considering Other Terms of Home Selling
Yes, cash is still the king. There is no doubt about that. And why not when it helps you simplify the buying process. You’ll save time and reduce any risks involved. But besides all the good things, if you don’t consider other terms, you might find yourself in a fix later.
You must keep a close eye on the sales contract. If a buyer is building the terms (commonly referred to as contingencies) where the terms are in their favor, you might end up empty-handed.
Remember, the best price won’t always be the best offer. You must evaluate all the terms and then decide whether everything is right for you, including the price offered.
Slacking Off at Staging
Many times everything is fine. But the moment you show your home to prospective buyers, they back out. Well! In that case, it’s not the house, but you are the problem. It is because you are not taking staging seriously when it comes to showing the strengths of your home.
Ideally, keeping your home clean, clutter-free, and aesthetically appealing will be a great way to engage with potential buyers. As per the survey, staged homes sell more than 80% faster than the ones not staged.
Remember, in the real estate world, first impressions matter a lot. So, make sure to present it in the best possible way so that the buyers can visualize it as their future home or a good investment.
Selling to Unqualified Buyers
You can’t stop anyone from seeing your house. Of course, you have to tidy it and all the other things. But make sure to remain focused. Make sure to ask for a preapproval letter from a mortgage lender or any proof of funds in case there is a cash purchase. This is because if you sign a contract and find that the buyer can only pay when they sell their own property, you will be in a serious bind if you need to close the deal by any particular date.
Selling a home is not an easy process. You need to take into account a lot of factors before listing your home. Plus, you need to consider all the potential repairs or damages and then move ahead with the whole process.
It’s natural that you would want to take full advantage of the market, especially in these unprecedented times. But you need to keep a cool head when it comes to pricing your home. Remember, don’t procrastinate when it comes to home showing/staging. That’s the critical factor that will help you sell your home faster.
Work with your agent and set up a substantial opening price, and let the market factors do the rest for you. So, are you all set with your home selling plan? Make sure to avoid the mistakes mentioned above to get the best price for your home.