AFY Steven Thomas - Seller Book

either. If prices in your area are dropping, youmay losemoney. By pricing your home based on current market values, you can sell your home more quickly and for more money. Price Dropping Another pricing trap to avoid is listing a price for your home far above other homes in the area with the thought the price can be dropped if it does not sell after three months. That is potentially workable in a stable or increasing market. However, if the market in your area is declining, you may be forced to reduce the price even more to catch up to the falling market. 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 Zillow has compiled 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 is problematic. Your financial situation may have shifted since your last purchase, and you may not meet the requirements for a loan, or you may not be able to sell at a price that enables you to buy the kind of replacement home you desire. You might have to rent or buy another house that is far from ideal. Before you decide to sell the house, get preapproved by a lender you have confidence in and study the housing market in the area that you want to live to get a good idea how much it will realistically cost you to buy a replacement home. Make plans in case you have 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

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