Staying emotionally detached is one of the biggest challenges for any home seller, but necessary if you don’t want to put buyers off and lose the sale.
“Once you sell your property, it’s a mistake to see it as anything more than a commodity to be packaged, priced and marketed,” says Berry Everitt, MD of the Chas Everitt International property group.
“The truth is that potential buyers are going to come in and ‘kick the tyres’ and you can’t afford to get upset if they make negative comments or fail to appreciate all the hard work it has taken to get the property into good condition.”
He says shrewd buyers will often make such observations to try to put sellers on the back foot in price negotiations. “But with the help of a reputable agent, sellers can usually avoid this trap, as well as the four other major mistakes that can scotch a successful sale.”
These are:
* Putting the property on the market before it’s ready. “This often happens when the seller has a relocation deadline and is in a hurry to sell… If there’s a horrible carpet to replace or the house needs painting, do the work before your agent begins marketing,” says Everitt.
* Not having all the financial information. “Home sellers need to know what the outstanding balance is on their own mortgage… and how much notice they need to give the bank to avoid a pre-payment penalty. They also need an agent who will give them the most up-to-date and comprehensive market intelligence on home sales in their area.”
* Pricing the home based on what you want (or need) to net. “The market consists of buyers who are very quick to spot (and avoid) overpriced properties.”
* Trying to cover up problems, or not disclosing them. “The best course of action is to rectify any problems or defects before you put the property on the market (or) you must be frank with your agent and potential buyers and be willing to negotiate a fair price for your home in its true condition. Anything less than such honesty is likely to lead to legal action being taken against you – especially now that the Consumer Protection Act is in force.” – Saturday Star