Real Estate Blog

Top 5 Mistakes to Avoid When Selling Your Property

Selling a property is not something people look forward to. For most Aussies this can be a costly and stressful affair. When a home owner decides to sell their property they are looking to sell their property at the highest price and wrap up the procedure as fast as they can. Unfortunately not everyone is able to sell their property at a premium price or wrap up the procedure without facing problems. This is because most homeowners can make petty and common mistakes when selling their homes.

This article takes a look at some of the common mistakes that homeowners make when selling their homes, beware.

1.    Not being ready to Negotiate

Selling a property is not like selling a candy bar, while the latter may be available at a fixed price, property prices vary according to the owner’s demands and subsequent negotiations. What most home owners are unable to understand is that a potential buyer will not buy a house unless they have negotiated a price that is lesser than your actual valuation. If you are rigid on the property’s price and are unwilling to negotiate, you might find it hard to sell your property.

2.    Hiding Facts about the property

Unfortunately home owners can often resort to hiding facts about the property from the potential buyers. While this might seem like a good ploy, it is a big mistake. Most buyers are careful when buying the property; they will check the property over and over again to make sure there is no aspect of the property that is hidden from them. If a potential buyer finds out that you have been hiding facts about the property, not only will the deal fall through, but the reputation of your property will take a massive hit.

3.    Leaving the Repairs for the New Owner

Home owners want to get the maximum price for their property. Unfortunately most people are unable to do so because they leave the repairs of their property to the new owner. If a potential buyer visits a property they look for things that need repair, this is then used to drive down the price of the property in subsequent negotiations.

4.    Getting emotionally involved with the property

Yes it is your property, yes it is a place you have lived in for years, but a property is just a property. Letting emotions come in between your property negotiations is a big problem for most home owners looking to sell their homes. Emotions can weaken rational decision making in subsequent negotiations with the property buyers.

5.    Setting the Value of the Property Too high

You may think that your property is worth tons of cash, but that is not the price that you can sell the property for. Home owners often value their property too highly, setting an almost un-matchable price. This can put off potential buyers even before they have viewed your property. If you are looking to sell your property, you need to engage the potential buyer by setting a price that is closer to the market valuation.

Make sure you avoid these common mistakes when selling your home to get the right price for your property.

More to Read: