You’ve heard of the various benefits of selling a house without a real estate agent. Maybe your friends and relatives have tried it and are satisfied with the process. The thought of saving money and avoiding the lengthy process of a traditional transaction is enticing. Eventually, you decide to sell home privately. There are a few things you should be aware of before doing that. One of them is having your documents in order. Without the proper preparation, you might find the process quite intimidating. It is also crucial to avoid some mistakes while selling your home on your own. What are those? Read on.
1. Not Pricing Your Property Correctly
It is natural for you to overestimate the price of your property since you’ve lived in it ever since you can remember. However, setting too high a price will deter the buyers at first glance. On the other hand, undervaluing is also wrong. You might feel that a low price will attract buyers rapidly and speed up the process. However, if you later realize that you could’ve gotten much more than what you did, you would be upset with yourself. It’s better to do your research by visiting real estate websites, exploring the neighborhood to check out similar properties for sale, and hiring a professional appraiser.
2. Keeping Your House Untidy
Even though this seems obvious, it needs to be said. Wouldn’t it be off-putting to visit someone’s house and find it untidy? Dirty carpets, unimpressive light fixtures, scattered clothes, and a messy kitchen will leave a less than a favorable impression on the buyers. Before you decide to have open houses, make an effort to clean up the house. Get rid of unwanted laundry, clean the windows, put fresh curtains, and ensure the rooms have a pleasant smell. You might also want to give equal importance to curb appeal. It refers to how attractive a house is when seen from the street. A greater curb appeal will lead to faster selling. Some ways to do that are mowing the lawn, painting the front door, placing a few potted plants, adding window shutters, and replacing the mailbox.
3. Avoiding Disclosures
Disclosures are taken care of by agents during real estate transactions. However, while selling a house privately, you should inform the buyer about any defects. If you’ve got a flooded basement, faulty electric wiring, basement cracks, or leaks on the roof, you are required to mention them in the disclosure form. The buyer could sue you later on if they find out that you’ve hidden any defects from them. You might even face a lawsuit for the recovery of damages because of misrepresentation.
4. Posting Unattractive Pictures
Although many buyers will turn up at the open house, they will probably first find out about your property online. It is a good idea to post excellent and visually appealing pictures of your property on websites to catch the buyers’ attention. Bad lighting, lack of focus, and hazy images will lead to your listing being ignored. Try to post pictures of those parts of the property that you think are the most attractive.
5. Being Unavailable at Showings
Selling your house should be your priority, and showings or open houses are the roads to that. If you’ve got a full-time job, reserve your weekends exclusively for this purpose. When the buyers explore the place, ensure you can answer any doubts or questions if they have any. Your potential buyers will not treat you seriously if you aren’t available at the showings. However, provide them ample space and let them feel comfortable by keeping a reasonable distance at all times. You can also arrange some cookies around and local magazines covering neighborhood news. Those will have a positive impact.
These are a few mistakes that you should avoid when you sell your home privately. Selling a house is a serious business, and you should treat it as such. If it’s your first experience with private home selling, you can never be too cautious.