Pricing Your Property Too High
|Every seller obviously wants to get the most money for his or her product. Ironically, the best way to do this is NOT to list your product at an excessively high price!
A high listing price will cause some prospective buyers to lose interest before even seeing your property. Also, it may lead other buyers to expect more than what the property has to offer.
As a result, overpriced properties tend to take an unusually long time to sell and this often
|looks bad for the property as people may start to wonder (and imagine) what is “wrong” with the property. You want them to “imagine” living in the home but they instead may suspect the price is too high and also be thinking about what else may be a factor for the long time on the market. If this starts to happen then the property may end up being sold at a lower price than if it had initially been more properly priced.Moose Mountain Realty will work with you to meet your needs of both time-on-market and best possible selling price.
Mistaking Re-finance Appraisals for the Market Value
Unfortunately, a re-finance appraisal may have been stated at an untruthfully high price. It has been known to happen that lenders estimate the value of your property to be higher than it actually is in order to encourage re-financing. The market value of your home could actually be lower. Your best bet is to ask a few real estate agents for their opinion on the value of your property and also for recent information regarding property sales in your community. This will give you an up-to-date and factually accurate estimate of your property value.
Forgetting to “Showcase Your Home”
In spite of how frequently this issue is discussed with the seller by the listing agent, and how simple it is to avoid, its prevalence is still widespread. When attempting to sell your home to prospective buyers, do not forget to make your home look as pleasant as possible. Make necessary repairs. Clean. Make sure everything functions and looks presentable. A poorly kept home in need of repairs will surely lower the selling price of your property and will even turn away some buyers.
A home in poor repair can also lead to a purchase and sale contract with many contingencies. This may result in you having to quickly address issues to make the sale go through. Often this will lead to you to have to pay a high price for standard maintenance or repairs.
At Moose Mountain Realty we can perform an inspection prior to show casing the home to help maximize its market value at an appropriate time on the market. First impressions matter!
Instead, be friendly and hospitable. A good idea would be to point out any subtle amenities and be receptive to questions. We will be present at every showing and you can remain calm and pleasant knowing that all will be handled courteously and professionally.
|Not Knowing Your Rights & Responsibilities
It is extremely important that you are well-informed of the details in your real estate contract. Real estate contracts are legally binding documents, and they can often be complex and confusing.
Not being aware of the terms in your contract could cost you thousands for repairs and inspections. Know what you are responsible for before signing the contract.
|Can the property be sold “as is”? How will deed restrictions and local zoning laws affect your transaction? Not knowing the answers to these kinds of questions could end up costing you a considerable amount of money. It is typical that you will have an attorney help you with this important transaction. This is a wise more and your attorney should answers any questions that you may have in plain English.
We can provide advice on competent real estate attorneys in the area to assist you with this selling of your home.
Limiting the Marketing and Advertising of the Property
Your real estate agent and his/her company should employ a wide variety of marketing techniques. Your real estate agent must be committed to selling your property. He or she should be available for every phone call from a prospective buyer and should be available for every showing. Most calls are received, and open houses are scheduled, during business hours, so make sure that your real estate agent is working on selling your home during these hours. At Moose Mountain Realty we are committed to selling your home and will bring many marketing approaches into play to sell your home at the best possible price.
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