Holicent
VIP Contributor
You think about selling your home, you’re probably thinking about making money. There are plenty of ways to make money from selling your home, but it’s important to understand that there are also many ways to lose money.
Here are some of the most common mistakes that people make when selling their homes:
1. They underprice their property and end up losing money on the sale. You want to price your home correctly so that it sells quickly, but you also want to be realistic about what it should sell for in order to cover closing costs and other expenses. If your home is priced too low, then any potential buyer will pass on seeing it — and they might even try to buy it at a lower price later on after they’ve decided not to purchase it at all.
2. They overprice their property and end up paying more for a house than they should have paid for one with similar characteristics nearby in the same area (i.e., the competition). When you overprice your property, buyers may feel like they’re getting a great deal because they feel like they’re getting an amazing deal; however, buyers might be dicouraged when they discover the price is not worth it, thereby leaving bad reviews leading to the property sale lingering for long.
Here are some of the most common mistakes that people make when selling their homes:
1. They underprice their property and end up losing money on the sale. You want to price your home correctly so that it sells quickly, but you also want to be realistic about what it should sell for in order to cover closing costs and other expenses. If your home is priced too low, then any potential buyer will pass on seeing it — and they might even try to buy it at a lower price later on after they’ve decided not to purchase it at all.
2. They overprice their property and end up paying more for a house than they should have paid for one with similar characteristics nearby in the same area (i.e., the competition). When you overprice your property, buyers may feel like they’re getting a great deal because they feel like they’re getting an amazing deal; however, buyers might be dicouraged when they discover the price is not worth it, thereby leaving bad reviews leading to the property sale lingering for long.