FORGETTING TO CANCEL/SWITCH UTILITIES AND INSURANCE
Many sellers overlook notifying utilities that they’re moving or applying for utility service at their new home. Call your utility and insurance companies as soon as a contract is signed. Find out how many days’ notice they need to switch or cancel service, then let them know when you have a firm closing date.
LETTING EMOTIONS TAKE OVER
Keep calm throughout the home-selling process, especially during the inspection. Be realistic and understand that there will be issues. It’s not uncommon to have to pay for some repairs. Don’t let the buyer’s demand for you to complete a small repair kill the deal. On the other hand, don’t commit to fixing anything in advance (“Sure, we can put on a new roof ”), unless you’re committed to handling it emotionally and financially. Decide what types of repairs you can realistically complete. Repairs can end up costing more money than anticipated.
POINTS TO REMEMBER:
• Many seller mistakes involve pricing—setting the initial price too high or too low, pricing subjectively without research, or turning down reasonable offers. • Get clear estimates before making—or promising to make—repairs. • Pay attention to your legal obligations in handling earnest money, adhering to timelines, and disclosing conditions. • Don’t let emotions or friendship with the buyer cloud your judgment.
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