Real Estate Investment 101: Getting Started

Don't Make These Mistakes When Selling Your Property

When you put your house up on the market, it's important for you to avoid making mistakes that can cost you an offer. Here are three mistakes you want to make sure you don't make when you are selling your home:

Don't get it in your head that you aren't going to negotiate

When you come up with the asking price for your home, you don't want to go into the home selling process with the frame of mind that you are not going to negotiate. In fact, it may be better to price your home a little higher than what you really want to get for it and then almost plan on allowing someone to then take you down to the original price you wanted. When it comes to real estate, most buyers go into it with their own frame of mind and that is that they can ask the seller to come down a bit. You may find you sell your home much faster if you are willing to bend a little.

Don't be dishonest about your house

When you are selling your home, it's important for you to make sure you are honest and that you disclose all the issues you know that your home has. It can be tempting to some people to try to cover up things like foundation issues, problems with the plumbing or even an issue with mold. However, not being upfront about issues such as these, or even others, will more than likely be found out during the inspection process. When they come to light, the buyer will either back out of the sale altogether, or ask for you to pay for the repairs. If you are able to get the sale to go through and the problems are noticed soon after, then you may find yourself being called into court over the issue.

Don't only have a plan A

While you would like to imagine everything going well with the sale of your home and all your timeframes and deadlines matching up perfectly, this is usually not the case. It's very important for you to be in a stable place through the whole process. You want to ensure you will have a place to live, you will have a place to keep your belongings and you will be able to carry that extra mortgage while your home is on the market.

For more tips, be sure to speak with a real estate professional in your area.