It can be really difficult for the first time home sellers to understand how the real estate market works. Hence, if you are looking forward to sell your home quickly, you need to be first aware of some common myths. Find out details here.
Planning to sell your home?
Certainly, it is not as easy as it appears to be. With home sales likely continue to struggle in 2018, it can be challenging for homeowners to sell their house fast and at the best possible price. However, if you really wish to go ahead and end up with a lucrative deal, you need to beware of some home selling myth.
Home selling will be an exciting period, bringing forth a large list of tasks to accomplish. But the problem here is that there are good chances of you to be meeting up with some bad advices. And the tip is simple- ignore them completely!
To help you, here are listed 5 common home selling misconceptions which needs to be debunked straight away.
#Myth 1: The cost should have a room to negotiate
Sellers always wish to get top dollar for their homes. However, overpricing it just because you wish to accept a lower offer later is not a fair thing. In fact, this might just leave you empty handed in the long run. Reason being, when you drop the prices multiple times, it make buyers skeptical, leaving them wondering what’s wrong with the place!
#Myth 2: Keep waiting for a better to come
Receive an offer from the first showing? You might be skeptical or hesitant to accept it, just because you think that the other prospective buyers would be inclined to pay more. It is here when you get wrong!
It is often seen that thoughts of potential bidding wars make owners wait and see who else pay more. This usually ends them up losing a good price as there’s no guarantee other would-be buyers is waiting around the corner, or he will be ready to pay more.
#Myth 3: Add renovation costs to the asking price
Of course, the improvements and renovations you have made will be adored by the sellers. But don’t think you can add in those costs to the asking price. This also means that not every change is going to proffer a huge return on investment. Hence, if you are looking forward to make some changes, you must know what kind of fixes will give you good returns.
#Myth 4: Getting an offer right away means your home is priced too low
Another problem arises when sellers receive an offer early in the process. The thought coming to their mind is that their agent priced it too cheaply, and they should have asked for more money. It’s natural to be a little greedy. But receiving an offer on the early end of the spectrum doesn’t mean your home was not priced accurately. Even if you have hired an agent, you must trust him as they don’t pick a number out of the sky. It is after extensive market research that they price your home.
So relax and be glad that your sale is moving in the right direction!
#Myth 5: Dropping the price is a sign of weakness
For a homeowner it is important to know when to drop the listing price. While it is never advised to be too eager to reduce the cost, but if time is passing and you are fetching little interest, it can be considered. It makes no sense waiting for someone to meet your price for longer, and keep paying the taxes, mortgage, utilities, or insurance price for an unwanted home.
So, these were some of the myths which separate fact from fiction. As you are now known to these, make sure you keep them in mind while selling your house.