The Ten Most Common Ways to Throw Away Money When Selling

The real estate game can be a strategic battleground for some, depending on how you look at it. If you have more money than you know what to do with, you probably aren’t worried about saving every dollar you can. For the rest of us who are trying to save where we can, this article is for you.

The real estate market can be quite unforgiving, especially when dealing with buyers. Sellers are quite capable of making mistakes that can cost them thousands, sometimes tens of thousands, of dollars. These mistakes are quite common, so educate yourself on what NOT to do to save yourself some major cash.

Not hiring a professional to sell your house

Unless you are a real estate agent yourself, trying to sell by yourself is insane. You might think you know what you are doing, but you’ll likely miss something. Even if your home is quite awesome and you think it’ll sell fast, you still need the guidance of a real estate agent in order to get the best deal.

Not fixing repairs before you sell

If the buyer has to fix a few parts of the house, that’s often times significant money out of your pocket. It costs much less to fix them yourself, than losing that money on closing day. You will probably know what all is wrong with your house when you get an inspection. So do yourself a favor and fix what you can instead of dealing with it the last minute.

Not moving your junk prior to sale

Your junk can easily derail a deal by lowering your equity. With your stuff in the way, the house isn’t able to be seen for what it is. Get rid of it!

Selling your home completely empty

On the other hand the opposite is true. If you try and sell your home completely empty, buyers feel like they’re walking through a ghost town. Buyers appreciate some stuff in the home to get a picture of what it could be like with their stuff moved in.

Mispricing your home

Pricing too high and too low can cost you big. This is where the professionalism and experience of your agent comes into play. They will tell you the honest, realistic price of what you should expect to get for it. If you misprice it and your house ends up staying on the market too long, buyers might think something is wrong with it.

Not staging for selling day

One important thing to remember is that buyers don’t buy with their heads; they buy with their heart. Make your place stand out to them, and you will see better results.

Letting your ego do the negotiation

Too many times the sellers get emotional about letting go of their house and don’t create a win-win for both parties.

Not completing the full set of disclosures before closing

Just be honest and don’t hide anything, and you won’t have any problems.

Mistiming the sale for best tax benefits

Even one day can make a big difference, possibly even tens of thousands of dollars. Don’t miss the date and save yourself!

Underestimating junk fees and extra expenses on closing day

Home sellers screw this one up all the time by not requesting and confirming a list of fees and expenses before closing day. They assume it will be chump change, but it actually turns out to be a decent size drop in the bucket.

Save yourself some money and follow this list. Educate yourself by keeping these in mind before you sell. 

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