Ready to sell your house in Raleigh Durham NC? The home selling process is much more complex than it looks. There are a lot of decisions that have to be made a long the way. Some decisions can cost you tens of thousands of dollars. Learn more about mistakes home sellers can avoid before selling their house in Raleigh Durham NC!
I’ve talked to many home sellers over the years and I have noticed many homeowners make decisions that cost them money in the end. These patterns of behavior become very predictable after a whole. Below are some of the most common mistakes I have seen in the Raleigh Durham real estate market.
#1 – Not Exploring Options
You don’t have to list your house in order to sell it. You can choose to sell it yourself either on the market to traditional buyers or directly to an investor or professional property buyer such as Otranto Real Estate Co - Mike Buys Houses . What works for one property seller may not work for you. As of this writing, we are in a seller market, so this one of the best opportunities to try selling by owner. But markets change, and when they do, exploring as many options as possible is even more important.
Before you call an agent, take a look at what is available to you! Learn about what we can offer you for your Raleigh Durham NC property! There is never any obligation.
#2 – Pricing It Incorrectly
This is where most homeowners go wrong. I have had many friends, and neighbors, make this mistake. I was able to witness a home for sale in my area that was listed for 20% over market value. I watched that house sit on the market from April 2017 until Thanksgiving. There were several price drops and they eventually let it go for less than it was worth–don’t let this happen to you!
Many sellers have an over-inflated price in their head, trying to get as much as possible, without comparing their homes to similar sales in the area to determine an objective sales price.
Some agents will advise you to list high so they can convince you to sign with them, while they take a shot at scoring a higher commission.
#3 – Not Clearing Out Personal Items
Imagine if it were you viewing a property. You wouldn’t want to see someone’s vitamins on the table, family photos everywhere or their stack of mail on the counter. Seeing personal items strewn about can make people feel very uncomfortable. They need to be able to imagine themselves in the house, not feel as if they are intruding on someone’s space. Many people will pack up everything but the necessities and put it all in storage until the house has sold.
#4 – Not Considering All Costs
If you decide to list your Raleigh Durham NC house, there are all sorts of costs to consider. Not only are there agent commissions, but also agent fees, administrative costs, marketing costs, listing fees, closing costs and more. All of which can be avoided with a direct sale to Otranto Real Estate Co - Mike Buys Houses .
#5 – Not Making The Needed Repairs
When selling to a new homeowner you should not expect them to see past necessary repairs and improvements. Remember that you are competing with new construction homes as well. Buying a home is just as stressful as selling one. Few buyers want to move in and start making repairs.
Once your buyer does an inspection, they will often ask for a number of things to be fixed. You might be blindsided by the number of repairs your house needs. Some sellers choose to have their own inspection done before listing so they have an idea of what they are in for. Taking care of the problems up front will save you time and money down the road.
Or simply sell to Otranto Real Estate Co - Mike Buys Houses as-is.
#6 – Not Disclosing Items Upfront
You need to fill out the NC Residential Property Disclosure Form and disclose the relevant information on the property, including the defects. These are the items that will come back to bite you. Either in the inspection or when the new owner sues you.
#7 – Not Cleaning Up Pet & Kid Stuff
Some people will feel a little uncomfortable if there are chew toys on the couch or legos all over the floor. I’m always picking up dog toys from around my house so I know how much of a hassle it is. Remember, the experience is about the buyer, they are the ones who will be spending several hundred thousand dollars. Make the areas feel as welcoming as possible. Remember your competition, All the new home builders in the area, are expert home-stagers.
#8 – Not Knowing The Cost of Sale
You need to be able to estimate what it will cost you to sell your house. How much do you owe on your mortgage? What will the real estate commisions be? What about the closing costs that are split between buyer and seller? Don’t leave this research to the last minute, especially if you bought your home in the last five years with a small, or no downpayment.
#9 – Hiring A Bad Agent
It can be easy to hire the wrong agent. Some are full of charm and are great at sales. This is great when they are trying to sell your house, but they also use this charm to get you to sign with them. Make sure they aren’t making false promises or are only worried about their commission. You can look at reviews, but it is best to hear first-hand experience from people you know and trust. You simply aren’t going to click with everyone either. You might find the top agent in town can be incredibly stressful to work with.
#10 – Not Calling Otranto Real Estate Co - Mike Buys Houses First
Otranto Real Estate Co - Mike Buys Houses will provide you with the information you need to help you decide how to sell your house. There is never any pressure to sell or obligation when you give us a call. As professional Raleigh investors, we want to work with you to help you make smart decisions about how to sell!