to other properties. As your home sits on the market, buyers will wonder why the home has not sold and conclude that it’s undesirable in some way. When you price your home correctly from the start, you generate strong interest and attract serious buyers right away. 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 are always looking for new listings—not ones that have been languishing on the market. Thinking that the market will turn in your favor may not be reliable, either. If the market in your area is declining, you may be forced to reduce the price even more drastically to catch up to the falling market. Price competitively from the beginning. Do not hesitate to reevaluate your local market with your real estate agent to determine the fair market value of your home. Set a price that reflects current market conditions to improve your chances of a quicker sale and a stronger return—before prices drop further.
OTHER SELLERS’ MISTAKES
Selling Before You're Ready
Signing a contract to sell your home before getting qualified to purchase your next one can create significant challenges. Your financial circumstances may have changed since your last home purchase, potentially impacting your ability to qualify for a new loan. Additionally, the proceeds from your current home’s sale may not match the cost of the replacement home you’re hoping to purchase. Taking the time to understand your buying power can help you navigate the transition more smoothly and make choices that truly support your goals.
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