3 expensive mistakes to avoid when selling your home

3:44 PM, Sep 23, 2020

When selling a home, you want the best price but may not know the best way to get it. For example, should you skip doing minor maintenance projects to save money, or will you end up delaying your closing date because the buyer requests repairs?

While some mistakes are nuisances, others cost a lot of money and could even make a sale fall through. Here are three expensive mistakes to avoid when selling your home

Not hiring a realtor

Realtors help you avoid hidden costs by, for example, advising you when to make concessions on the sale price instead of repairing something. They know about options like putting repair funds in an escrow account for the buyer or raising the price to pay for necessary fixes.

Realtors are also experienced at vetting potential buyers and know how different loans will affect you. They can tell you any benefits of accepting an offer with a loan connected to the Department of Veterans Affairs, the Federal Housing Administration, or the United States Department of Agriculture.

Without a realtor, you’ll be on your own when dealing with every request from potential buyers and their agents, the title company, and loan officers.

Trying to do all the work yourself

Taking on the task of selling your home is committing yourself to an extra job for several months, as you answer calls, schedule showings, follow up on potential leads, and do a mountain of paperwork.

“Can you rush home from work every time someone wants to see your home?” Investopedia asks. “Can you excuse yourself from a meeting every time your phone rings with a potential buyer?”

Paperwork can also quickly become overwhelming, as you deal with potential buyers’ offers, contract addendums, loan information, a title deed and report, property tax information, the final sale agreement, lead-based paint disclosures, and other documents specific to your home. Failure to include or complete necessary documents could mean losing a sale.

Missing out on marketing

Simply listing your home on a website isn’t enough. It’s important to highlight the most marketable features compared to others for sale and to choose the right photos. You also need to know where to list your home and follow up on any leads. And sharing listings with more than just friends and family is essential to avoid missing out on potential buyers who don’t have a connection to someone you know.

“Even if you have a large personal or professional network, those people will likely have little interest in spreading the word that your house is for sale,” Investopedia says. “You don’t have relationships with clients, other agents, or a real-estate agency to bring the largest pool of potential buyers to your home.”

Fortunately, realtors are up to date on the latest trends when it comes to highlighting features in your house and listing in the best places. They also have many contacts and, when emails or calls come in, they can quickly weed through potential buyers to determine who’s qualified.

Avoid making expensive mistakes by working with an AZ Flat Fee realtor. No matter the sales price of your home, AZ Flat Fee provides all the benefits of a full-service realtor for a flat fee of $3,000. Your agent will take care of listing your home, vetting potential buyers, filling out necessary paperwork, and marketing your home in a way that works. Visit AZFlatFee.com for more information and to get started

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