The real estate market is a tricky place to navigate. The buying and selling scene is often a bustling field with constant bidding wars, negotiations, and soaring prices. If you’re planning to put a piece of realty on sale, knowing what to expect, both good and bad, can make the process easier for you.
This guide lists down the things you should avoid when selling your property. Additionally, if you want to ensure a streamlined transaction, it’s always a smart move to have a competent real estate agent in your corner.
Overpricing Your Listing
Right from the start, ensure that your agent is upfront about your property’s value, as overpricing your property can put off many potential buyers. Keep in mind that market interest in new listings peaks after a certain period. Once your realty’s passed over for being too expensive, you may find difficulty selling it even if you eventually lower your asking price.
Waiting To Sell Property
While sellers find the most real estate success during springtime and early fall, you shouldn’t have to wait for said seasons before placing your listing on the market. Any month is an ideal time to sell homes, even August and December, which are the periods that see the least amount of sales. Additionally, most experts cite February as the best month to sell your property.
Ignoring Major Repairs
Fixing major problems can be costly, but they are crucial to your real estate sale. Even if you don’t recoup your expenses through selling, paying for mending services is preferable to buyers asking for a credit for future repair costs. Helming your structural fix-its also gives you control over how much you’d have to spend for the project and which expert will do the job.
Reluctance To Negotiate
One aspect of selling your property is negotiating with a buyer, so always be open to price discussions, even if you feel like your listing has a fair price. Both parties often come to a successful agreement when the deal benefits the buyer. Should you want to drive up the sale price, you can offer to cover part of the closing costs. Or, if your buyer’s inspector finds small damages, agree to credit for minor repairs.
Hiding Structural Problems
It’s a requirement for all realty sellers to disclose any existing issues, recent repairs, and updates to the property they’re selling. Be honest about structural problems instead of hiding them, as inspectors would likely find them even if they’re not immediately apparent. Buyers can sue you if it’s proven that you know of any issues not detected during the inspection, such as leaks, but decided to keep them a secret.
Contact Moss Realty today and get to know our agents. We have been providing our real estate expertise in and around Gastonia for over 30 years. Work with our team and let us help you handle the process of buying or selling your property.