even sparking a bidding war. It’s like standing over a pond full of eager fish. The first offer doesn’t look appealing, and you naturally think there must be larger, tastier fish available. So, you toss the surprisingly sizable fish back in. Big mistake. That “throwback” is often the “catch of the day.”
Becoming Friends with the Buyer
It’s appropriate, even important, to be friendly, but don’t let the personal nature of someone being in your home lead to lengthy discussions with buyers, as personality conflicts can often cloud judgment. Be cautious with comments about items related to the house and neighborhood. Remember, this could be their new home. You’re undoubtedly excited about moving, but buyers may start second-guessing. A casual remark about the house “really being too small for a growing family" or “the schools are going through some changes” might seem like innocent chatter but could dampen their interest. Allow your agent to handle discussions so you don't disclose personal information that could weaken your negotiating position.
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, 61
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