Avoiding Common Mistakes Homeowners Make When Selling Their Homes

A house
  • By mytennessee_
  • 18 Feb, 2022

Selling Your Home

Selling your home is a big investment in both time and money. The last thing anyone wants when selling their home would be to make mistakes which could waste these resources.

The Biggest Mistake a Seller can Make

You’re more likely to sell your home as-is, without paying for repairs or renovations, when you’re upfront about its condition. (1)

The biggest mistake any seller can make is trying to sell their home without additional assistance. Many people fall into this trap believing it will save them money or avoid paying certain fees, but for what little money you save you will pay back with your own time ten fold.

When you are trying to sell your home every offer you will try to negotiate with you to try and obtain a lower price. Especially since you are not affiliated with a real estate company, people will send you lowball offers for the chance to buy the house for far less than it is worth. These continued messages and emails will greatly eat away at your time, and this process will become like a second job for you. 

Also you will lack any exposure. Real estate companies are able to promote your house among a wide spectrum of buyers and help bring people into your house. However, if you are trying to sell your house on your own, you will have to advertise your house on your own, and how many people do you know of that are truly interested in buying your house.  This makes the process of selling your house reliant on word of mouth overall making the process much more luck dependent.

Why would you try to sell your home through such a frustrating process when you can easily talk to a qualified sales agent from My Tennessee Home Solution and get an honest price for your home today?

The Three Most Common Mistakes to Avoid when Selling your Home

When selling a home there are three mistakes which are commonly found among new home sellers. Understanding these common mistakes can help you succeed in selling your estate.

Pricing your Home to High:

When you are looking to sell your house you must be realistic about what your estate is worth. Many people when they are trying to sell let an emotional connection to the house affect how they value the home. This makes it very important to try and talk to your sales agent about why your home is valued at what it is and trying to understand why your home should be valued at what it is valued at.

Hiding Problems:

When you are trying to sell your home it can be very tempting to simply hide the problems which aren’t noticeable, especially if you are unable to repair the issue. Sellers are required to note all recent repairs, updates, and problems to all potential buyers.  If this information is not provided the buyer can back out of the deal when finding out or even take a lawsuit against the buyer.

Being Unwilling to Negotiate:

When you receive an offer it will never be quite what you hoped for. While you believe your asking price is more than fair it is only natural for the buyer to also decide what to get a deal which they think is fair as well. Try to keep both parties in mind while trying to sell your house.

Is it hard to sell a house you never lived in?

Selling a house which you have never lived in has inherent advantages and disadvantages. For example, a house which you have lived in for many years becomes a staple to the family who dwelled in it. So, for this family, selling the house feels like losing a part of the family making it much harder for them to let go.  If you never lived in the residence you will not have these burdens, but you may have trouble answering select questions due to you being less knowledgeable of the house.

What happens if you move into a new house before selling?

If you move into a new home before selling your old house there isn’t much which will change. You will have to pay more expenses, such as mortgages for both prosperity, utilities, HOA dues, taxes, and any storage fees you might have to pay during the moving process. Other than the additional monthly charges the process of selling your house changes very little.

What happens to your mortgage when you sell your house?

If your mortgage is paid off when you sell your house you will get to keep all of the money made when you sell the house. You can either use the money to reinvest in a new home or use it on other expenses. 

If your mortgage is not paid off you need to take the money earned from the sale and pay off the mortgage that has yet to be paid off. After doing this the excess money earned from the sale is yours. It is highly recommended that you talk to a trusted broker about any other concerns you may have.

What to do before selling a house?

Before selling your house it is important that you try to present your house in the best way possible. Repairing any property damage, loose doorknobs, and touching up any marks can help raise your property value.

In Conclusion

Selling your home is a hard process. It has many varying factors and many mistakes which sellers often fall into. Remember To be willing to negotiate, to be honest, to be reasonable, and to seek help while selling your home. Remembering these things will greatly help you in the process. When you are ready to start to sell your home contact My Tennessee Home Solution. We will provide you with a friendly and professional service today, allowing you to sell your house in minutes.