Julie Ludovico

6 Costly Mistakes To Avoid When Selling Your Home

When it comes time to putting your home on the market, there are some mistakes to avoid up front so that you will sell your home for the best price possible and hopefully eliminate any legal issues.

Mistake 1: Don't put your home on the market before it's ready.  This can happen if a seller is impatient or is pushed into a moving deadline without getting all the work done before it is ready to list.  If you have plans to replace that worn out carpet or paint, do it all before you list your house.  PRESENTATION is everything!

Mistake 2: Don't OVERIMPROVE your home for the neighborhood.  Instead of being a nice addition to the community, it becomes an anomaly that makes it stick out from the other homes in the neighborhood due to the additions or upgrades. 

Mistake 3: Don't PRICE YOUR HOME BASED ON WHAT THE SELLER WANTS TO NET.   This is the beginning of the end and always ends in failure.  A seller can control the "ASKING" PRICE, BUT CANNOT CONTROL THE "SALES" PRICE...THE MARKET DOES... Unfortunately the price is determined by the reality of the market.

Mistake 4:  Don't COVER UP problems.  The seller disclosure/disclaimer form is used in Florida.. Just because you disclaim doesn't mean you can't be sued down the road for a problem that was pre-existing.

Mistake 5: Don't Get Emotionally Involved In The Sale of Your Home.  I know it is easier said than done, but this is one of the biggest challenges a seller faces.  Potential buyers will come in and maybe feel differently about the condition of your home than you do and you can't get emotional about their lack of appreciation.  It doesn't matter what you "want", only what market prices are.  Once you decide to sell, your house (no longer a home) should be prepared as a commodity, marketed as a commmodity and priced as a commodity.  The seller doesn't SELL the home, the agent doesn't SELL the home, "HOMES SELL HOMES"  

Mistake 6: Don't forget to get your ducks lined up before trying to sell.   Make sure there are no pre-payment penalties on your current mortgage, listen to the particulars of your local market.  If your local market is dictating lower priced homes, then it's better to lower the price early than later, or it will cost you more.  If your always lowering your price after the fact, in this market you will not succeed in selling your home in a timely manner and it will end up costing you more in the long run.  If the local market dictates selling your home first, then buying second, do it in that order.

Remember, the price a buyer pays for a home is dictated by being either a "SELLERS MARKET" OR "BUYERS MARKET.   Have your Realtor show you the most Recently SOLD homes in your immediate area as well as the "Pending" and "Active" so you can price your house accurately the first time.  Right now in Hernando County, it is a VERY STRONG BUYERS MARKET, so SELL WELL.  GOOD LUCK!! 

IF YOU ARE LOOKING FOR AN EXPERIENCED REALTOR TO LIST YOUR HOME, FEEL FREE TO CALL JULIE LUDOVICO 352-442-9386 OR ELSIE KEMPSEY 352-428-5232 TODAY.  WE HAVE A PROVEN TRACK RECORD AND RESULTS. 

We'll Always Keep You Posted!
Have a Great Day and Enjoy!
TEAM TROPIC HERNANDO
Julie & Elsie
"Don't Let The Sun Set On Your Dreams"

Published Tuesday, March 23, 2010 10:10 AM by Julie Ludovico & Elsie Kempsey