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 reputable lender and study the housing market in the area that you want to live to get a good idea of 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 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 "looky-loos", people who want to look at your home yet are not able, ready, or willing to buy. Agents do not waste time showing homes to unqualified home shoppers.
“Hovering”
Leave the property when your house is being shown. This is impossible or impractical if you are selling it yourself. If you have a real estate agent, don't be home when the house is shown.
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