7 Expensive Mistakes Made By A Home Seller
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- By Admin
- Feb 21, 2019
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The entire process of buying a property is a crucial one, and same is the case when you sell a property. It takes a good amount of planning and extensive research to make the correct selling decision. Though there is always the likelihood that you are making real estate mistakes, these errors could turn very expensive for you if you are planning on selling a house. So, as a home seller, you must ensure to avoid these mistakes when you decide to sell your property in Chennai, Delhi, or for that matter some other place. Here is a carefully curated list:
1. Taking An Incorrect Pricing Decision
There is a high chance that you may be prompted to sell your property at a price that will provide you huge profits. However, don’t make the mistake of over pricing the property if you do so. Overpricing as well as under-pricing are expensive mistakes which home sellers tend to make. So, before you decide the final selling price of your property, you must make a careful comparison of the properties in your neighbourhood. Plus, do leave scope for negotiation afterwards.
2. Not Being Available To Talk To Potential Buyers
After you have put your property up for sale, you would get many enquiry calls from potential buyers. So, make sure you are available to take those calls. If you are travelling or are not available for some reason, make sure you put an agent or a person in charge to take the calls so that you don’t lose the chance of missing out on the best buyer.
3. Installing Expensive Gadgets Or Fittings
If the property that you are selling has a lot of expensive fittings, the property price would definitely go up when compared to the other properties in the neighbourhood. But, this might come in your way while making a successful sale of your property. For instance, having a sound proof room may be a good idea to you but might seem irrelevant to a lot of buyers who may not want the same.
4. Neglecting Maintenance
After putting the property on sale, many sellers stop to take maintenance measures for the house. This is not right on the part of the seller, because neglecting the maintenance can bring down the property value. Not only this, it affects the overall aesthetic appeal of their property, making the sale of the property all the more difficult.
5. Selling The House At The Wrong Time
For selling homes in Chennai or in any other state for that matter, the current market conditions have a huge impact on their sale. If people can’t buy the property you are selling, then your property demand will automatically decrease, and this in turn would bring the market rate down.
There are different phases in which the market affects the price of a property. Thus, if you choose the wrong time to sell your property, you may lose the chance of losing a great property deal.
6. Complicating The Buyer Viewing Process
When you decide on selling the property, you sometimes do not take the necessary steps to make the buyer viewing process easy. List your property on a useful property listing so that your property gets noted, and interested buyers approach you. The more you tell people you are selling the property, the more chances you have to sell the property sooner.
Plus, to make the buyer viewing process simple and easy, you can get in touch with a real estate aggregator. When the buyer views your property in a property listing with the help of a real estate aggregator, a lot of useful information about the property can be provided to the buyer right there and then.
Important information about the property such as the facilities, amenities, the selling price, etc. is provided to the buyer, which in turn helps him/her in deciding whether to visit the property or not.
7. Not Staging Your Home
Staging your home means preparing your home for sale. The objective of staging a house is to make it appealing to the maximum number of prospective home buyers in order to ease the entire selling process, and get a desirable selling price as well.
If you do not stage your house, buyers will not be able to envision themselves in your home. The purpose of every room should be demonstrated clearly to them. Hence, staging is an important process in selling your house, and is something you should definitely do as a seller.
If you want to sell your property, you must avoid these real estate mistakes before you carry out the required real estate transactions. Try to stay well-updated with the market trends, and have basic knowledge of real estate in order to make a successful property sale.
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