Erickson Tribune

Brooksby

UPDATED: Thursday, October 12, 2006

Selling Your Home?

Posted on Friday, September 01, 2006
 

Avoid These Five Mistakes

1)  Overpricing your home.
The best chance to get the best price for your house is within the first few weeks on the market. it is overpriced, you will miss out on this critical time and will most likely end up with a lower price than you would have gotten had you priced it correctly to begin with.

If the home is priced too high, the people who can afford that price will look for something bigger and better. And, potential buyers who would be able to afford it if it were priced correctly will overlook it because it is priced beyond their means.

Inevitably, the price will have to be reduced. Then you will be in the unenviable position of having a house that’s been on the market for months, and now with a reduced price. Buyers think, "There must be something wrong with it," and they seek out other options.

2)  Failing to prepare the home properly.
A new coat of paint, freshly shampooed carpet, sparkling tile—all these things send a message to the buyer; the home has been well-maintained. your home doesn’t look good, a buyer may wonder if there are hidden problems they’ll have to deal with later.

In fact, some experts suggest hiring a home inspector to uncover any potential problems and then have the problems fixed before you put the house on the market. Buyers tend to over-estimate the cost of repairs, so if something comes up during their inspection, you will probably have to allow more money for them to make the repair than if you paid to fix it ahead of time.

3)  Making the wrong improvements.
Some home- owners spend thousands of dollars on home improvements in the belief that they will recover the cost, but often this is not the case. Talk to a real estate professional before you start upgrading; otherwise, you could be throwing your money away.


Brooksby
Image
More Brooksby

Election time at Brooksby

Volunteers make magic

Team Trivia takes off

Recycling efforts reenergize

Read or Add a Comment?

A call to end Erie Pa.'s relationship with "sister city" Zibo, China, and all Chinese imports.

No URL for Riderwood Blog

Laughter Yoga

Happy hour hot spots?

Model yacht clubs

Your thoughts on Reflexology

Tools

Write a Comment on Story

Print

Email Story

Add to Favorites

4)  Don’t push too hard.
Avoid the temptation of following a buyer around the house pointing out every feature. those features are not important to the buyer, they may come to believe they will be paying for a lot of "extras" they really don’t need or want. They may decide to look for a less expensive house without all the frills. you have a good agent who is in tune with the buyer’s desires, they can point out only the things that will be of interest to the buyer.

5)  Not understanding the contract.
A contract is a legally binding document. is important that you fully understand your rights and obligations as outlined in the contract. An experienced real estate agent and/or a real estate lawyer should go over the document with you before you sign it.

—Mary Thayer Haugen

 

 

 



 Other Community News

    

'); } -->
Click Here to Order Now!