So you are ready to sell your home. Let’s clean up and put the “for sale” sign outside! Of course, it’s not that simple. While it may not sound too difficult at the beginning, the process of selling a home has several aspects that sellers must consider to get top dollar for the property on a timely manner.
Sometimes, a small mistake can cost you thousands. Keep reading to discover the top five mistakes McAllen home sellers make.
It Will Take Money to Make Money
One common mistake homeowners make is that they don’t include all the costs involved in selling the house and underestimate the time it takes to wait for a sale inMcAllen . Obviously, there are several costs involved in updates and improving the curb appeal. Commissions, which range between five or six percent of the final sale price, while typically the largest of the expenses, it may be wise to have an inspection completed to get a heads up of possible repairs that lenders may request. When you list your house with an agent, there is no guaranteed closing date so you have to keep paying utilities, insurance, and you are still responsible for property taxes until the day of the closing. Marketing costs in real estate have also increased dramatically and the first walkthrough is usually virtual, which will requires using some professional services. Considering the focus on the property is in high definition, staging has also become a standard expense for all home sales, rather than just model homes.
Overpriced Property
Overpricing your house when looking at it with emotional attachment, adding the value of your feelings, is another mistake McAllen home sellers make. Likewise, homeowners involved in their negotiations may become visibly upset, insulted by offers lower than their asking price, losing a potential buyer. Before pricing the house, you should check the current price of similar properties in your neighborhood to get an idea of the market.
Another way overpricing occurs is when sellers set a really high price, assuming they will have to come down during negotiiations with a potential buyer. This can become a costly game to play because if the house is way out of the price range, many people will not even look at the property. Buyers seek homes by price range, and they can quickly assess your property, knowing that they can get more house for their money from another seller . The properties that can be most likely comparable to your home will be located close to your home; you need to find for how much and how fast they sold in the past year and that info will enable you to calculate a more realistic price range. Pay attention to the listing price and days on market. You’ll see that overpriced homes linger on the market.
Disclose, Disclose, Disclose
The potential to be the costliest of all the mistakes McAllen home sellers make is the information they disclose about the property: legal implications when they fail to disclose could run into the thousands. First, disclose any issue in the past that you have worked on. Then, you’ll want to provide permitting paperwork, if any. If you performed unpermitted work, you must provide the details you do have. Including any problems or repair work you are aware of from previous owners. Along with all the info you should have you should also have any previous inspections. Finally, if there are any issues with flooding, water leaks, foundation, molding, rotting wood, be sure to include this in your disclosure.
Staging Tips
Professional staging create a special feeling that make the house more spacious and attractive for potential buyers. It can result in a faster sale but comes at a price. Stagers will often 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 there. Keep in mind, that stagers will want your house clean and declutter, so you will need to find a place to store your personal items and part of your furniture. Not taking advantage of this sales tactic is a huge mistake McAllen home sellers make.
Wrong Sales Method
Without reviewing all of your choices, you’re likely to make one of the most costly mistakes McAllen home sellers make, the wrong selling option. While real estate agents come to mind fast when homeowners discuss selling, it can pay to take your time to explore all the different home selling methods out there, including the costs involved, any projected timelines, and the amount of work and level of stress on you part that may accompany each process. Discuss or maybe make a list of 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.
Dolfin RGV can help you avoid these and other mistakes. We are a family local company that works around the Rio Grande Valley, we have helped homeowners in different cities, all kind of situations sell their houses in McAllen, Edinburg, Hidalgo, Donna, Mission, Pharr, San Juan, Alamo, Weslaco, Mercedes, and around the Valley. At Dolfin RGV, our goal is to make the process easier on the homeowner, we like to speak with you to help you find a solution to your unique situation, outlining each sales method to help you make the best choice to sell your home. Working with Dolfin RGV means guaranteed fast cash closings, usually as-is. Call Dolfin RGV at (956) 904 5234 or send us a message to learn more about saving time and money.