There’s no sugar-coating that selling a home is time-consuming, daunting, and stressful. One day you’re optimistic because you met a seemingly committed buyer at the open house or showing, and the next day you’re frustrated because they changed their mind or didn’t follow through. Plus, there’s the stress involved in preparing your house, not to mention the sadness you might be feeling from selling a home that you’re emotionally attached to.
In all this chaos, it’s easy to make expensive home-selling mistakes if you’re not careful. Being aware of these common mistakes can help you become more conscious of the steps you take throughout the process.
Mistake #1: Over- or under – pricing
If you price your home incorrectly, your home may become less attractive to potential buyers. It will likely stay on the market for longer, which can result in additional carrying costs, such as mortgage payments, property taxes, and maintenance expenses. You might even end up selling your home for less than its true value just to get it over with, which means you lose out financially.
To avoid these issues, hire an appraisal company to accurately determine your home’s value. This will help you set a competitive price that reflects its true worth and attracts interested buyers.
Mistake #2: Forgetting to factor in the selling costs
Most first-time home sellers think they don’t have to worry about additional expenses when selling a house, only to be surprised by closing costs, agent commissions, home inspection repairs, and staging costs.
Mistake #3: Not having a professional home appraisal
Appraisal firms can determine your property’s real market value. A professional appraiser in Toronto can provide custom appraisal services to provide a specific market price or a realistic range, depending on the type of property you are selling. Additionally, an appraisal can help you identify any problems you can fix before you sell your home to make it more attractive to buyers.
Mistake #4: Failing to disclose issues with a buyer
If a home appraisal and inspection reveals some problems, you are legally obligated to inform the buyer about them through real estate disclosures. Otherwise, the buyer could sue you if they discover the defects and issues after buying the house and moving in.
Mistake #5: Hiring inexperienced professionals for help
Always verify that you’re hiring certified and licensed real estate agents and appraisal firms to help sell your home. Make sure they have extensive experience in providing their services in Toronto.
Get help from the expert appraisers
Appraisal Hub is an appraisal company you can rely on for complete appraisals and consultancy services. This reputable firm offers a wide range of appraisal services in Toronto, such as property, mortgage, commercial, and divorce appraisals. Call 1-888-728-8482 to schedule your home appraisal or to get an estimate.