Seling a home can be a complex process. First-time home sellers can make mistakes along the way due to their lack of experience. This is why it is important to be prepared. Continue reading to learn the most common mistakes made when selling a home and how you can avoid them.
What are the most common mistakes to avoid when selling a home for the first time?
- Being Emotionally Involved: It may be difficult, but it is important that you look at selling your home simply as a transaction. It is best to distance yourself from your emotions during this process.
- Not Hiring an Agent: Retaining the services of an agent when you are selling a home when you have no prior experience is beneficial in many ways. Agents can help you set a fair and competitive price, interact with buyers, negotiate sales, and more.
- Setting an Unrealistic Price: A fair offering price can be determined by a comparable market analysis. It is necessary to know what houses in your area are sold and listed for. Skilled buyers will negotiate the price. You must be prepared for this. Most people want to list their homes at an attractive price, however, you should always leave room for negotiations.
- Selling During Winter: The winter season can be slow for home sales due to the holidays and cold weather. It can take much longer to sell a home during this season. You may also risk getting less money as you planned if you do end up selling in the winter.
- Skimping on Listing Photos: Photos must showcase the best assets of your home. It is crucial that your listing photos are straightforward, taken during the day in natural life, and clearly display your home.
- Not Carrying Proper Insurance: You may be required to have homeowners’ insurance when selling a home. Even if you are not required to, it is beneficial to be insured regardless, in case a viewer has an accident on the premises.
- Hiding Major Problems: Any problems with a home will be uncovered during a buyer’s inspection. There is no point in attempting to hide major problems. You must either fix the issues or lower the price of the property.
If you have any additional questions about selling a home for the first time, do not hesitate to contact our New York City real estate attorneys. Give our firm a call today to get started.
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