Putting your house up for sale is easily one of the most stressful and cost-inducing periods of people’s lives. Selling a home is a complicated process and it is a difficult task to do well considering that most people only do it a couple of times during their lifetime.
The public’s lack of exposure to this means that it can be all too easy to fall into the many pitfalls that this process incurs, where inexperience tends to lead to expense. Here at Vivo Property Buyers, we’re an experienced, family-run property buying company so we are well versed in the tricky art of house sales. Therefore, to help you out we have put together the seven most common and expensive mistakes people make when selling their homes (and how to avoid them).
1. Neglecting a pre-inspection survey
A professional will be able to spot any outstanding issues with your home
Although you may be eager and excited to start selling your home, your property may not be ready to go on the market. If you have lived in your home for several years, you may have grown accustomed to the faulty aspects of your home. Often these quirks are salient issues that firmly discourage house viewers from putting in an offer, so it is best practice to invest in a professional pre-inspection of your property. It will give you more time to fix any issues that are raised such as seamless gutters issues, resolving them before you put your house up for sale rather than half way through a deal (which will only add to the high stress levels). Furthermore, if a major renovation or roof repair needs to be done to your property, make sure the work is done by a reliable roofing contractor. You can get more information here if you need to hire a professional roofing contractor. It’s best it is done before your house staging process begins as it may be difficult to present your home in an attractive way if repair work is taking place simultaneously. Talk to a few residential roofing contractors to compare their rates, services and even reviews from previous clients. Overall, while the survey does incur a cost, it will save you time and reduce stress later on down the line, whilst also allowing you to get more money for your property.
2. Setting an unrealistic asking price
Avoid putting an off-putting price on your property
The decision to sell your home is undoubtedly an emotional one, however, this can sometimes result in vendors issuing over-ambitious asking prices for their property. It is important to remember that a house is only worth what a person is willing to pay for it and is in no way a reflection of your own self-worth! You deem it wise to be stubborn and proud with your asking price in the hope that you will get the maximum amount of money possible for your property. However, putting your house for sale and holding out for a top-end price will often cost you more in the long run. You may think you are going to receive the highest offer, but it is important to factor in that time is money. If your asking price is causing a drawn out sale, the day-to-day running costs of your property (such as utility bills) will slowly eat into your profit margin. It’s better to set a smart price than a bold one. Buys Houses will pay fair price for your house. In addition, houses that are over-priced instantly tell house buyers that the vendors may be difficult to negotiate with and will put them off taking further interest in your property.
3. Selling at the wrong time of the year
Houses in winter may take a long time to sell
Another expensive house-selling mistake involving the time of year when you decide to place the property on the market. It is important to note that spring is the peak time for property selling as it is when there is the highest number of buyers in the market. However, this activity does not follow into the summer where the market often grinds to a halt. With children off from school and families taking holidays, deals can often stagnate during the sunnier months. Therefore, don’t presuppose that house buyers have more time during June, July and August as they are often busier. The same applies around Christmas periods too!
4. Staging your home for yourself, not potential buyers
Make sure your home is clutter-free and inviting
As mentioned in mistake #1, it is a regular error that vendors place their homes on the market before they are ready. This issue becomes further apparent concerning the decoration and furnishing of the house with homeowners, so proud of their abodes, forgetting that they are meant to stage the property for the viewers. Mostly, vendors frequently try to accentuate what they like about the property rather than consider the opinions of the buyer. It is all too common for viewers to keep their idiosyncratic (often garish) décor and furnishings during the house staging period, thinking that it adds personality and character. However, poorly decorated rooms can put buyers off and overbearing décor can make spaces look dated and cramped. It is vital to remember that you are selling space, so give home buyers a good understanding of your property – one they can determine on their own. In addition, other routine mistakes messy bedroom, broken appliances and lack of kerb appeal (vital for when a buyer first sees the property). If your home is set back from the street and cannot be seen when at the road, consider Greensboro roof replacement to enhance curb appeal, add curb house numbers at the entrance of your driveway.
5. Being ‘too personal’
Not every buyer wants to be welcomed by your adorable pooch
While the thought of strangers viewing and evaluating your property may feel a bit intrusive, it is vital that you stay neutral during the house staging process. The personal nature of house viewing means that you can quickly take things to heart; “this house is good enough for me, why would it not be for anyone else”, right? Unfortunately, house buyers don’t want to get too involved with the people they are buying from. They are looking for a property to make their own, they do not want to feel like they are moving into your home. Therefore, ensure that your décor is neutral and a blank canvas for the prospective buyers. Also make sure that the house viewing is as enjoyable and stress-free experience. Consider what environment house buyers would want to be stepping in to. For example, not everyone wants to be greeted by a barking dog when viewing a property, even if it is loveable! Overall, you want home buyers to feel comfortable in the property and too much information about the current owners may plant seeds of doubt which may lose you the sale.
6. Being dishonest with your buyer
Be open and honest with prospective house buyers
It is natural to want to drive through a quick sale, especially if a buyer seems keen on your property from the offset. In addition, to help drive an offer, it is commonplace to tell a white lie or twist the truth when questioned about the property by the viewer. However, these issues will almost certainly be found out at the property survey stage, putting to an end any chance of a house sale from the viewer. No home is perfect, therefore be honest early on about your property. This can help build trust between you and the buyer, allowing issues with the house to be overcome – this is a much easier path than trying to rectify dishonesty.
7. Not screening your buyer
Screening potential leads is an efficient way to gaining a successful house sale
It can be easy to take the first person that registers an interest in your home too seriously. The fact that someone has expressed interest in buying your home is a natural ego-boost and you may swiftly rearrange your busy schedule and book in a viewing right away! However, even at the initial stage of a house purchase, it is vital that you screen your potential buyer. Ask them pre-qualifying questions such as whether they have already sold their current property and whether they are looking to purchase within the next six months. This will help you filter whether the people in question are serious and in a position to buy rather than ‘lookers’ who are taking a casual interest in potential properties should they ever decide to move. This will help you save valuable time when selling your house as it is better to have a small number of quality potential buyers than a large quantity of ‘browsers’ who will waste your time.
We hope that you have found the following tips helpful when you’re next looking to put your house up for sale. It will save you time and money, helping to reduce on of the most stressful events in your life!
Follow these tips and moving day may be closer than you think!
