5 Costly Mistakes People Make When Selling Their Home
23rd March 2017
We know that selling a property is not always plain sailing. In fact, there are numerous obstacles along the way that can prove costly for homeowners. As your estate agent, we want the selling process to be as straightforward as possible and we want to help you avoid the stumbling blocks along the way. Read on to expose five costly mistakes people make when selling their home and be sure to avoid them.
Not being ready to sell
Selling your home is a huge decision to make. You might be a growing family searching for more space, or perhaps you’re downsizing now that your kids have flown the nest. Either way, we understand that your house has become much more than just a building. It is your home and you have created memories there. At Hunters, we recognise that some people are simply not emotionally ready to sell their home just yet. If you put your home on the market and you are not 100% emotionally ready, you could, without realising, put obstacles in the way and ultimately sabotage the sale.
According to a recent report by Which? some agents purposefully over-value properties to persuade sellers to choose their agency. We believe this tactic is detrimental to people who are trying to sell their home, as these valuations are often unrealistic and unachievable and not in line with the current property market. This can lead to interest in the property stagnating over time, resulting in a property remaining on the market for long periods. At this point, buyers become understandably frustrated and question why a property isn’t selling. We will only give an honest and accurate valuation based on the current property market. We will then negotiate with buyers to ensure your home sells for the highest possible purchase price.
Failing to do repairs
As a homeowner, you can easily get used to living with peeling wallpaper, scratched walls, broken door handles and leaking taps. We are all guilty of it and after a while, you might not even notice at all. However, we know that prospective buyers have an eye for detail and if they notice that a property needs repairs they will see pound signs and wonder how much more work is needed to bring a property up to scratch. We also know that if repairs are done by a DIY novice rather than a professional, the finish is not always up to the standard that buyers are looking for, resulting in people being turned off.
Not presenting for a viewing
You did a fantastic job getting your house ready for photos for marketing your property and that has got the prospective buyers interested. But don’t forget that you need to put the same effort into each viewing so that your property sells itself. It is a well-known fact that a well presented and staged home can often sell for a higher value than an un-staged property.
Failing to see the bigger picture when an offer has been made
The final stumbling point is when an offer is actually made on your property. Many people would automatically accept the highest offer, failing to take everything into account. Bear in mind that a higher offer made by a potential buyer that has a home to sell and in a chain could ultimately cost you more than a lower offer made by a first-time buyer who already has a mortgage in place and no chain behind them. If a buyer has problems selling their home, this could easily cause delays and result in the chain being broken and your sale falling through.
Selling houses is not a piece of cake for anyone, but with Hunters at your side, we can ensure that the process is as simple as possible. Visit our team in Burgess Hill to find out how we can guide you through the process without hitting the pitfalls along the way.