Major Mistakes Home Sellers Make That Cost Them Money
Trying to sell a house can feel like a high wire act, especially if the home sellers are going to live in the house until the sale is complete. There is a lot of time and effort that needs to be put into selling a house. Otherwise, it may stay on the market for a long time. Or, and even worse outcome, the house might end up getting taken off the market by a frustrated homeowner who is tired of waiting for a buyer to come along that will overlook all of the mistakes they are making in the process.
There are many mistakes that home sellers make during a sale. For this reason, make you avoid the following missteps.
Starting Repairs After Buyers Find a Problem
Anything that needs to be repaired should be repaired before the house is on the market. If a buyer suggests a repair they are likely to want a lower price on the house or even a credit to complete the repair themselves.
Any repairs completed, and done well, before a sale begins will not be noticed by a buyer. This means there is less room for negotiation in price. Even small items that need to be repaired will make a buyer nervous that there are repairs needed but are being concealed.
Not Being Flexible
This is a hard fact to deal with if there is a family living in the house. Buyers will want to come look at a house at the drop of a hat. That means everyone in the house needs to be cleared out very quickly.
If home sellers tell too many buyers “no,” they are passing on opportunities to sell the house. Many housing markets have multiple houses for sale at a time. That buyer may not schedule a showing and move on to the next house available.
Slacking on Cleaning
Most homeowners do a great job cleaning, at least for the first showing. After that initial open house the coffee table starts to collect random items from pockets, the kitchen has dishes piling up, and there is laundry laying around waiting to be washed or folded.
Since buyers will likely want to view the house without much notice, it must always be showcase ready. That means constant cleaning, even when there is not time to clean.
Not Leaving the House
Buyers do not want to see a homeowner present at a showing. They already feel like they are intruding on the homeowner and their presence is going to make them uncomfortable.
With a homeowner hovering they are unlikely to fully explore the house or ask questions. Most likely they will try to rush through the walk-through and never think about the house again.
Keeping Pets in the House During Showings
There are two problems with keeping pets in the home during a showing. The first is some people are scared of pets or even allergic. They may not want to risk walking through a house with a large dog barking in a kennel. If the pets are agitated and the buyers are agitated.
The second problem is the smell. No home with pets is without a slight smell that says there are pets living there. Regardless of how often they get a bath or if the house is clean, it is typically easy to tell if an animal is in the house. Especially if there are multiple pets living in the house.
Not Negotiating
While it can be hard to take an offer that is lower than expected, it is sometimes necessary. Leaving a bit of room for negotiating will help home sellers and buyers find a good middle ground. A seller that will not budge in price at all is likely to lose out on any sale that could have happened.
Refusing to Repair
Even with a homeowner doing their due diligence and making necessary repairs beforehand, it is likely the inspector will find an issue. If it is a simple repair and does not cost a lot, fork over the cash. Losing out of a sale because of a couple hundred dollars is not worth it.
Not Factoring in Closing Costs
Selling a house does cost money. Many home sellers fail to realize that they will need to spend money on closing the sale. This money can be a large amount and can take someone by surprise if they did not budget for the cost.
Do not make these mistakes while selling a house. These mistakes will slow down the sale process, potentially cost more money in the long run, and lead to frustration. Preparing for the sale, keeping up with the maintenance of the house, and being flexible is going to help a seller close a deal at a price point that makes everyone happy.