CENTURY 21 Semiao and Associates' Blog

Costly Mistakes to Avoid Before Selling a Home

Costly Mistakes to Avoid Before Selling Your HomeYou've decided to sell your home.  You are ready to accept an offer and sell your home today!  A piece of cake, right?  Not so fast.  

Don't guess on the sale price of your home.

 

Have your real estate agent help determine your home's fair market value.  This is not an appraisal for the purpose of a full loan amount, but an appraisal for the true market value.  There is a difference!  Nothing loses potential buyers faster than an overpriced home.  Then, when you lower the price it makes it look like you are getting desperate to sell.  On the flip side, you don't want to lose money by selling too cheap.  It might get you a fast sale, but you might miss out on several thousand dollars, too.

Get The Home You Want! What Is It That You Want?

When building or buying a home, it helps to decide just exactly what you NEED and what you WANT.  Once you have a price in mind, then start looking.  If you do it the other way around, you can end up falling in love with a house that you can't afford and none in your price range will compare.

Location, Location, Location

Don't you wonder why people always ask about location first?  Well, it is the one thing you cannot change about the house after you buy it.  However, there are things besides the neighborhood that you need to consider.  Things like lot size -- do you really want 5 acres, or is it worth it to be that far from nosy neighbors.

What Is Your Home Worth?

What is your home worth?If you're thinking of selling your home, you may be fantasizing about the profit you'll reap from the sale or calculating exactly how much you'll need to pay off your current mortgage and have enough left over for a down payment on the next house.

Before your fantasies run amok, you need to realize that, while you can estimate the value of your home in a variety of ways, the true value is only what a buyer will pay for it.  

There are several ways to get a strong idea of how much a buyer will pay for the property in current market conditions.