Price competitively from the beginning. Do not hesitate to reevaluate your local market. Work with your real estate agent to determine the fair market value of your home. OTHER SELLERS’ MISTAKES Here’s a list of “Don’ts” to help people avoid the pitfalls of an otherwise-successful sale: Selling Before Getting Qualified Yourself Entering a contract to sell your home before you get qualified to buy another home is problematic. Your financial circumstances may have changed since your last purchase, and you might not be able to qualify for a loan, or you might not be able to sell at a price that allows you to buy the type of replacement house you want. You could end up renting or buying something that was far from ideal. Before you decide to sell, get pre-approved by a lender you trust and research the housing market in the area where you wish to live so that you have a good idea how much it will take to buy a replacement. Make plans in case you need to move right away. Wasting Time on Unqualified Buyers It is wasted effort to show your home to someone who cannot buy it. An example is the seller who spent two weeks preparing his home for an acquaintance who wanted to buy his home. The seller spent $1,000 removing an old shed and met with the prospect several times to discuss price and terms. It was well into the process when the seller found out the prospect could not qualify for a loan. Real estate agents spend considerable effort weeding out showing to non-qualified and unqualified home shoppers.
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