If you are forgoing an agent, consider hiring a real estate lawyer to assist you with the finer points of this trade and escrow. In spite of attorney’s fees, however, selling a home yourself can save you thousands. Bear in mind, however, the buyer’s agent will expect to be compensated, which means you won’t have the ability to save the whole commission, as you will want to cover 1-3% of the property’s sale price to the purchaser’s agent.
Mistake No.4: Putting an Unrealistic Price
Whether you are working with a broker or going it alone, setting the right asking price is essential. Bear in mind the corresponding market analysis you did when you purchased a home to find out a reasonable offering price? Buyers will do this to your house, too, so as a vendor you should be one step ahead of the game.
Absent a housing bubble; overpriced homes don’t sell. Do not worry too much about setting a price that is on the low side since, in theory, this can generate a number of offers and bid the cost up into the home’s true market value. In actuality,underpricing your house a bit can be a strategy to create additional interest on your listing.
Mistake No.5: Expecting To Receive Your Asking Price
Any intelligent buyer will negotiate, and if you would like to complete the sale, you are going to need to play the match. Most men and women wish to record their homes at a price that will attract buyers while still leaving some breathing space for discussions. This will enable the buyer to feel like he or she’s getting a great value and permit you to receive the amount of money you need in the sale. Naturally, if you end up with more or less than your asking price will probably depend on whether you are in a buyer’s market or a seller’s market and how well you’ve staged your dwelling.
Mistake No.6: Selling Winter (When You Have the Choice Not To)
People are busy with social engagements, as well as the cold weather makes it more attractive merely to stay home. Because fewer buyers will likely be looking, it might take longer to sell your house, and you might not get as much cash. But you can take some consolation in knowing that while there might not be too many active buyers, there also will not be as many competing vendors.