receives a lot of interest from potential buyers in the early stages, giving them confidence that the home will sell quickly and potentially even spark a bidding war. It's like standing over a pond filled with hungry fish where the first bite seems significant, leading you to believe there must be more extensive and juicier fish out there. As a result, you throw the not-so-small fish back in, thinking there are better options. However, this can be a big mistake, as that first prospect is often the most valuable. Sometimes, the first offer can come from the buyer who has been looking the longest, most qualified, and knows exactly what they want.
Do not become Friends with the Buyer.
When selling your home, being friendly to the buyers is essential. However, please do not have too many long discussions with them because personality conflicts can cloud judgments. Also, be careful about what you say when discussing the house and neighborhood, as this could be their new home. Avoid making casual statements that could discourage them, such as "The house is too small for a growing family" or "The schools are going through some changes." Remember that when buying or selling a home, the seller and the buyer have opposing interests. It is good practice in real estate that the buyer and seller have minimal communication or come in contact with one another.
Underestimating Closing Costs
Many sellers only consider the money they are selling their home for. Below is a list of expenses in connection with a home sale that a seller can expect to incur: • Real estate commission, if you use an agency to sell. • If you plan to sell by owner, advertising costs, signs, and other fees. • Attorney, closing agent, and additional professional fees.
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