casual statement about the house “really being too small for a growing family,” or “the schools are going through some changes” might be enough innocent chatter to squash their interest.
Underestimating Closing Costs
Many sellers only consider the money they are selling their home for. They don’t appropriately calculate all the costs associated with the sale. Zillow lays out the following list of expenses: • Real estate commission, if you use an agency to sell. • Advertising costs, signs, other fees, if you plan to sell by owner. • Attorney, closing agent and other professional fees. • Excise/Gains tax for the sale, if applicable. • Prorated costs for your share of annual expenses, such as property taxes, homeowner association fees, and utilities. • Any other fees sometimes paid by the seller (appraisals, inspections, buyer’s closing costs, etc.).
Forgetting to Cancel/Switch Utilities and Insurance
Many sellers overlook notifying utilities that they are moving or applying for utility service at their new home. For buyers, you can normally check the Sellers Disclosure for utitilty names & numbers to contact. For sellers, please allow time for the buyers to get the utilities switched into thier name.
Letting Emotions Take Over
Keep calm throughout the selling process, especially during and after a house inspection. Be practical and presume that issues will arise. It’s not uncommon to have to pay for some repairs. Don’t let the buyer’s request to complete a minor repair kill the deal. 63
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