Even if you’re not in a hurry to sell, it’s not a wise move to test the market by listing your home at a high price to “see how it goes.” Serious home shoppers may take months to find a new home. They are continually looking for new listings, not ones that have been sitting on the market. Thinking that the market will turn in your favor may not be reliable, either. By pricing your home based on current market values, you can sell your home more quickly and for more money.
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 into a contract to sell your home before you get qualified to buy another is problematic. Your financial situation may have shifted since your current home 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. Before you decide to sell your house, get preapproved by a lender 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 afford to 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
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