These pricing errors do not just delay your sale; they fundamentally weaken your negotiating position, often resulting in outcomes far worse than would have been possible with strategic pricing from the start.
OTHER SELLERS' MIS ELLERS' MISTAKES
Selling Before Getting Pre- Qualified Yourself
Entering a contract to sell your property before you are pre- qualified to buy another can be problematic. Your financial situation might have shifted since your last purchase. You might not meet the requirements for a loan, or you might not be able to sell at a price that enables you to buy the kind of replacement property you desire. You might have to rent or buy another house that is far from ideal. Before you decide to sell, get pre-approved by a competent lender and study the housing market in the area in which you want to live. Make appropriate plans should you have to move quicker with to accept an exceptional offer.
Wasting Time on Unqualified Buyers
It is a wasted effort to show your property 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 it. 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 discovered that the prospect could not qualify for a loan. Real estate professionals employ considerable efforts screening and pre-qualifying potential buyers. This is a priceless value when time and presentation quality are critical to your outcome.
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