Selling a house is a time-consuming and exhausting process, especially if it’s your first time doing it. If you want to sell quickly, be ready to entertain potential buyers on the weekends as well. People visit the house, open closets, and cabinets, and look around. They will scrutinize the property, negotiate and offer you less money than the home is worth. It can be emotionally tiring and can lead to errors!
You would be thinking- ‘What mistakes should I avoid to sell my house in Baltimore?’ So here we have some tips shared by PSG professionals-
Letting your emotions cloud your judgment
Selling a house you have lived in, especially for first-time sellers, can be emotionally challenging.
Here is what you can do- Once you have decided to put the house on market, think like a businessperson rather than just a homeowner. Consider it a financial step based on your goals, and it will help you keep the emotional aspects of selling the property on the backburner. Also, consider yourself the salesperson for the property, highlighting every plus point.
Should you hire an Agent?
Real estate agents or companies usually take a substantial commission—5% to 6% of the sale price. But they are sure to provide value with their service. A good local agent helps you come up with a fair and competitive selling price. They can also check in with you when emotions interfere in the process. Agents interact with potential buyers and reduce the window shoppers who have no intention of making an offer.
They handle all the paperwork and complexities involved in real estate deals and ensure that the process goes smoothly. But it doesn’t mean you can’t sell on your own! Be sure to do all your research first. Look up all the sold properties in your neighborhood and those on the market—to determine the selling price. Most home prices have an agent’s commission included. Consider that while deciding on the last price.
Put the property on the multiple listing services (MLS) in your location to reach maximum potential buyers. Hire a real estate lawyer to help with the documentation.
Placing an Unrealistic Price
Putting the right asking price is the key! The comparative market analysis you or your agent did, was done on the buyer’s end too. You may expect a higher price considering the real estate market right now, but remember to set a realistic value based on similar properties in the neighborhood.
Any smart buyer will negotiate! Also, there could be showing timings requests from people. Consider being flexible and accommodate reasonable requests during the selling process.
Putting House on Market during Winter Months
Winter and holidays are sluggish times of year for home sales. People tend to be involved in social engagements, and prefer to stay inside during the cold weather. However, do your research first, as many neighborhoods have potential buyers lined up all year round!
Not Having Proper Insurance
You must have a homeowner’s insurance policy before inviting buyers into the property. If someone gets into an accident on the property, you could be charged for damages. Make sure there are no hazards and keep the children of potential buyers away from the pool area.
Do you want to skip all the steps and sell the house quickly?
Many homeowners have a pending foreclosure, a recent divorce or death in the family, or need to downsize to save up during the pandemic. Property Solutions Group is a verified Baltimore cash buyer that can help you settle within 30 days! Get in touch with the PSG team here.