Many sellers only consider the money they are selling their home for. They don’t appropriately calculate all the costs associated with the sale. A conscientious agent can provide you a preliminary net sheet. Consider these items: • Real estate commission, if you use an agency to sell. • Advertising costs, signs, other fees, if you plan to sell by owner. • Attorney, title company and other professional fees. • Prorated property tax. • Prorated costs for your share of other annual expenses such as homeowner association fees or special assessments. • Any other fees sometimes paid by the seller (home warranty, possible repair requests, buyer’s closing costs, etc.).
Forgetting to Cancel/Switch Utilities and Insurance
Many sellers overlook notifying utilities that they are moving or applying for utility service at their new home. Call the utilities and your insurance company as soon as a contract is signed. Find out how many days’ lead time they need to switch or cancel, then get back with them when you have a firm closing date.
Letting Emotions Take Over
Keep calm throughout the selling process, especially during and after a house inspection. Be practical and presume that issues will arise. It’s not uncommon to have to pay for some repairs. Don’t let the buyer’s request to complete a minor repair kill the deal. On the other hand, don’t commit to fixing anything in advance (e.g., “Sure, we can put on a new roof ”), unless you are sure you
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