Mistake #1:
Basing price on needs or emotion rather than market value.
Many times, people make their pricing decisions based on how much they paid for or invested into their home. This can be an expensive mistake.
Overpriced homes take longer to sell and eventually net the seller less money. Consult with a professional real estate agent.
A good agent can assist you in pricing your home correctly from the beginning.
Mistake #2:
Failing to "Show-Case" their home.
First impressions are the most important. Experience shows that for every $100 in repairs that your home needs, a buyer will deduct $300-$500 from their offer. Thoroughly clean and prepare your home before you put it on the market if you want top dollar.
Mistake #3:
Signing a listing contract with no way out.
Most traditional real estate agents want you to sign a
long-term listing contract with no way out. When you list your home with me, you can cancel your listing agreement at any time, no questions asked.
Mistake #4:
Choosing the wrong agent for the wrong reasons.
Many homeowners list their home with the agent who tells them the highest price.
Or they list with the agent they like
most. Or they list with the agent who works for the biggest
company. And beware of agents with
fancy presentations but little track
record to back it up. You need to choose the agent with the
track record and written guarantees to sell your home.
Mistake #5:
Not knowing all of their legal rights and obligations.
Real estate law is complex. The contract that you will sign when selling your home is legally binding. Small items that are neglected in a contract can wind up costing you thousands of dollars. You need to consult a knowledgeable professional who understands the in's and out's of a real estate transaction.
Here
are 5 Expensive Mistakes Home Buyers
Make...
Mistake
#1:
Not
knowing how much mortgage they can
afford before they make an offer.
The easiest way to avoid this mistake is
to get pre-approved for a mortgage by a
lender so you know in advance exactly how
much you can afford. Most pre-approvals
are free and it will give you a basis to
make a more informed purchasing decision
when you find the house you like.
Mistake
#2:
Not
realizing in advance who the real estate
agent represents. Most people think
that the agent they are working with is
working for them. But unless they
are working as your buyer representative,
they represent the seller. There are
different types of agency relationships
you can have with a Realtor, make sure
that you are clear on your options.
Mistake
#3:
Not
realizing that the wrong mortgage can
cost thousands of dollars in needless
interest and taxes. Check with your
accountant before you make your final
decision on which mortgage you are going
to choose. Your CPA will be able to tell
you what the long term effects will be on
your income, your taxes, and the equity
you build in your home over time.
Most people aren't aware that with a
standard 30 year mortgage they will be
paying two and a half times the amount of
the mortgage in payments. With some
planning in advance and a simple strategy
they can cut the amount of interest they
pay dramatically and own their homes
sooner.
Mistake
#4:
Not
discovering hidden defects before they
buy a home. One of the most
expensive mistakes is also one of the
easiest to avoid, by having a
professional pre-purchase home
inspection. Don't get stuck with a money
pit. The cost of a professional home
inspection is usually a few hundred
dollars, but the peace of mind it can
give you and the expense you can avoid
needlessly is in the thousands of
dollars.
Mistake
#5:
Not
knowing that one or two of the top
Realtors and their teams have access to
more homes through all their connections
and marketing. Sure, every agent
can find a home in the "Multiple
Listing Service," or the well-known
internet sites. But the very top
Realtor Teams have many more ways to find
your dream home. Be sure to seek
out a top Realtor so you have access to
more homes.
