Are you planning to sell your house? The first thing you will probably look into is repairs. In order to make the house representable for the buyers, this is necessary. However, when you go aboard and start making renovations, things don’t seem to turn out the way you expected.
Why is that?
Well, renovations can affect the house in two ways: it will be either sold at your preferred asking price or you will receive no offer at all! You are probably thinking objectively rather than subjectively, which is what’s causing the problem.
There are a few other things that homeowners look over such as a home inspection, pest control, and staging. You probably get the idea now. The safe thing to do would be to make a checklist and then tick off each item one by one. To prevent you from encountering any house-selling pitfalls, we will discuss five mistakes that every homeowner falls for.
Mistake #1
Setting the Asking Price without Any Research or Forethought
Ask any Orlando realtor and they will tell you that the first thing you need to do before setting the asking price is to browse the real estate market online. You need to make sure that your house is close to the comps so that the asking price can be justified. If you are setting a high asking price because you did some costly renovations, then be prepared for the wait because it will be a long time before your house is actually sold.
Mistake #2
Investing in Costly Renovations
Just because you think that a swimming pool in the backyard will add an extra feature to your house, it doesn’t mean that people will be willing to spend more than the market price for it. Renovations such as re-insulating the attic and installing skylight make much more sense than changing the countertops in the kitchen.
Mistake #3
Not Hiring a Downtown Orland Realtor
If you are browsing Orlando real estate, then make sure that you have backing from a real estate agent. Just to save on the commission, homeowners often take the FSBO route, which brings in less money. Then there are the legal complications that will make you run around in circles. An Orlando realtor has connections with many people who aid in the house selling process. So, don’t make the mistake of tackling this process on your own because you will end up losing thousands of dollars.
Mistake #4
Discarding Expert Advice
Whatever advice your Orlando realtor is giving you, follow it! The realtor is a professional and has probably sold hundreds of homes, so naturally, he/she knows better.
Mistake #5
Fibbing on the Seller Disclosure
The seller disclosure is a document that informs the buyer that everything is right with the house. If you lie on this document, then the buyer will have the right to take legal action against you. Once negative word spreads about your house, it will become even more difficult to sell your house.
These five mistakes can decrease your house value by a big margin. Don’t feel humiliated when a low ball offer comes in. Ask the buyer about the reasons why he/she came up with this counter offer. Do your research, collect the necessary documents, and then send in your final offer. Looking for a licensed Downtown Orlando realtor? Visit Megan Dowdy Realty to hand over your house’s sale process to a professional. To get in touch with them, call at 407-509-9279.
