4 Mistakes to Avoid When Selling a Home in 2020

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The time has come. You’ve either outgrown your home or made the decision to downsize. Whichever it is, It’s exciting to put a house on the market and to start thinking about making new memories in new spaces. It’s those deep sentimental attachments to the homes we’re leaving behind that create growing emotions that can help or hinder a sale, depending on how we manage them.

The bottom line is this: homeowners need to know what it takes to avoid costly mistakes. Being mindful of these things and prepared for the process can help you avoid some of the most common mishaps when selling your house.

1. Overpricing Your Home

When inventory is low, like it is in the current market, it’s common to think buyers will pay whatever we ask for when we price our homes. Believe it or not, that’s far from the truth. Don’t forget that the buyer’s bank will send an appraisal to determine the fair value for your home. The bank will not lend more than what the house is worth, so be mindful that you might need to renegotiate the price after the appraisal. A real estate professional will help you to set the true value of your home.

Curious what your home is worth? Set up a free Predictive Market Analysis with our team to find out.

2. Letting Your Emotions Interfere with the Sale

If it’s the first home you bought after you got married or the house where your children grew up, it very likely means something extra special to you. Every room has memories and it’s hard to detach from the sentimental value.

For some homeowners, that makes it even harder to negotiate, separating the emotional value of the home from the fair market price. That’s why you need a real estate professional to help you with the negotiations in the process.

3. Not Staging Your Home

We’re generally quite proud of our décor and how we’ve customized our houses to make them our own personalized homes, but not all buyers will feel the same way about your design. That’s why it’s so important to make sure you stage your home with the buyer in mind. Buyers want to envision themselves in the space, so it truly feels like their own. They need to see themselves in the space with their furniture and keepsakes – not your pictures and decorations. Stage and declutter your home so they can visualize their own dreams as they walk through your house. Avoid making any major renovations like redoing kitchen cabinets or installing new countertops. These ‘upgrades’ are costly and could potentially just end up being ripped out and replaced with a new buyer.. A real estate professional can help you with tips to get your home ready to stage and sell.

4. Avoiding Major Repairs

A long list of maintenance issues can turn buyers off and potentially decrease the value of your home. More importantly, buyers expect the condition of your home to match the description. Consider prioritizing the most glaring issues, particularly those that are likely to turn up during a home inspection, which many buyers and lenders require before closing.

Bottom Line

Today’s seller’s market might be your best chance to make a move. If you’re considering selling your house, the expert team at BP Realty is here to help you navigate through the process while avoiding common seller mistakes.

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