Mistakes To Avoid When Pricing Your House To Sell!

Selling a home can be very stressful and difficult, but it does not have to be impossible. In fact, it can actually be fairly easy if you avoid some very common mistakes.  The most common mistake that is made by home sellers is incorrectly pricing their home.  The listing price of a home normally determines whether a home will be sold quickly or if it will sit on the market for long periods of time and become stale.

Quite simply, if a home is overpriced, it really won’t matter if a seller hires the best real estate agent in the area, who also has the best marketing plan, it just will not sell!  

But, listing a home at the correct price will almost guarantee that a buyer will write an offer in a short amount of time. Unfortunately, determining the correct listing price is not as easy as it seems.

Here are a few mistakes to make sure you avoid:

Listing high to leave room to negotiate!

A high number of home sellers believe that it is a good idea to price their home higher because they think that most buyers will offer significantly less than the listing price. In most cases, this is just not true!

Buyers today are very savvy and knowledgeable; the internet has made it extremely easy for them to obtain information. Plus they are very likely working with a real estate professional who is looking out for their best interests and will let them know if a property is overpriced.

So a home seller, who prices their home high to leave room to negotiate, will not have anything to negotiate as buyers will not even look at it.

Listing  your home at market value and not listing it high to leave room for negotiating, will more often than not, get you more money in a shorter amount of time!

Listing your home with the real estate agent that tells you the highest listing price!

In most local real estate markets there is anywhere from several hundred to thousand’s of real estate agents.

For instance, the number of real estate agents in the Marion County, FL area is around 1,800.

And much like any other industry there are professionals who are very good at what they do, and some who are terrible at what they do.

In every market there are the real estate agents who buy listings. They will tell a seller their home is worth more than it really is, just to get the listing.

And by doing this they are doing a huge disservice to the seller and themselves!  

A seller who interviews three or four real estate agents and selects the agent because they said their home was worth much more than the other agents did, and doesn’t have evidence of comparable sales to back it up, is making a huge mistake!

What is the Final Walk-through?

So you are under contract and are only a few days away from the closing and there is still one more important task to complete before you close and receive the keys……

 The final walk-through.

Weeks or maybe even months may have passed since the last time when you were inside the house, the final walk-through is to check that the seller has met the maintenance and other requirements of the sales contract with regards to the property condition. It is usually scheduled for the day before or day of closing.

Take your time with the final walk-through, give yourself time to look at the home completely to make sure everything is as expected. The house should be totally empty at this point. If there is any trash or other belongings still in the house at this point, they need to be removed by the seller or at their expense. It is also important to look for things that may be missing that you and the seller agreed they should leave in the house in the sales contract, such as appliances, fixtures, drapes etc.

While inspecting the interior and exterior of the house, you should make sure to look for any damages that were not present during the previous home inspection. You also want to make sure that any agreed upon repairs have been made by the seller.

The two most common issues that appear during the final walk-through is the home has been left unclean with or the seller failing to make agreed upon repairs according to the contract.

If the seller has not made the repairs as agreed, first consult with your realtor so they can open-up communications with the seller or sellers realtor, as it may just be a simple oversight.

If however, the seller is refusing to make the agreed upon repairs, then your best option may be to seek legal advice.

Simple Kitchen Remodels under $600!

Numerous homeowners would like to redesign, or upgrade their kitchens. A kitchen is the focal point in numerous homes, one where family assembles to discuss their day, where kids chip away at homework while guardians cook, and where companions accumulate for social affairs and gatherings. Numerous kitchen redesigns are costly and you can without much of a stretch burn through a huge number of dollars updating a kitchen, yet you don't need to. In the event that you don't have a huge budget  yet at the same time need to overhaul and redesign your kitchen, you can! We've gathered a few thoughts for straightforward, brisk and simple kitchen redesigns and updates….. and the best part is that they are all under $600 each! Work towards the kitchen you had always wanted!

Start with the walls

 New paint, whether in the same, or an alternate shading, can thoroughly invigorate and redesign a room. Lighter shaded paints can likewise make littler rooms seem bigger, which is incredible for a maller kitchen. For a few hundred dollars, you can purchase new paint, tape, rollers and brushes and this undertaking can be effortlessly finished in a day or so.

Upgrade the Lighting Fixtures

 Is your kitchen dim, or are your lighting apparatuses revolting or dated looking? Assuming this is the case, changing the lighting fixtures can be a speedy and simple upgrade that can take years off the look of your kitchen. Swapping out existing installations is a really simple DIY with bunches of instructional exercises accessible on the web.  If you hire someone to do the job, it's a simple task for an electrician, it shouldn't cost you more than around $150 in labor costs, in addition to the expense of your new lighting installation.

Cupboard  hardware

 This fast and simple redesign is one of the least expensive and speediest approaches to give your cupboards new life. Equipment, cupboards and drawer pulls can be bought from home change stores, from old fashioned shops and even from domain and carport deals. There are numerous exquisite looking alternatives that will cost you just a couple of dollars for each piece.

Refurbish your cupboards

Buying altogether new cupboards is liable to be a costly move up to your kitchen, yet all cupboards, including overlay ones, can be painted the length of you utilize the right paint and prep coating. Also, there are alternatives like dab board backdrop which connected to base cupboards and given a crisp layer of white paint will change the look and surface of your cupboards totally – without costing you more than a few hundred bucks  for the paper, groundwork and paint. 

What is an Earnest Money Deposit?

If you are planning to purchase a home somewhere in the near future, one of the more proactive steps you can take is to calculate out what money you will need for the home buying process so that you are not surprised with unexpected expenses down the line. Some of the expenses and fees that are charged during the home buying process can be rolled into your mortgage, but one that can't is what’s called the earnest money deposit.

The earnest money deposit is a deposit given by a prospective home buyer in order to show that they are serious about purchasing the home and showing good faith.  Earnest money deposits are generally submitted at the time you submit your offer or within a set time frame agreed upon in the contract. 

Earnest money deposits act as kind of a barrier to buyers who are not serious or who write frivolous offers on homes. Your deposit does not go to the seller themselves, but instead to an escrow company who then hold the deposit securely until the sale of the home is finalized.