Wednesday, February 06, 2019 / by Holly Northup
It’s only natural to want to sell your house for as much money and as little as possible. However, there are certain actions you should be cautious of doing which can be detrimental to your deal. Here is a list of six things you should avoid doing to ensure a successful sale of your house!
- Avoid Bidding Wars
It is easy to want to encourage a bidding war. People love your house and so you believe they should pay as much as they can afford. That sounds peachy in theory, however, in practice you can end up losing out on your highest offer and end up having to settle for whichever bid didn’t walk away.
- Don’t Haggle on Repairs
Is your buyer asking for a long list of repairs? Consider what they are offering before accepting or refusing to take care of the repairs. If the buyer is paying above list price but you refuse to do repairs, it may cause your buyer to feel they are being taken advantage of. In that case, buyers will back out of the deal, leaving you with no offer.
- No Bullying
Are negotiations going the wrong way? While it might be tempting to threaten putting your house back on the market, it’s a dangerous move. There is a stigma associated with houses that are put back on the market. What about other prospective buyers who were interested? Chances are they have moved on to other houses and there might be no one interested in your back-on-the-market listing.
- Try Not to be Stubborn on Closing Date
This transaction is taking place between two separate entities. You have scheduling conflicts, and so does the other party. It is best to be considerate and mindful of each other’s schedules. Communicating needs to your agent and having both parties represented can make the process smooth.
- Beware of Greed
Is there a gorgeous chandelier in your dining room that has belonged in your family for generations? That chandelier will be going with you, but does everyone know that? Consider replacing it before showing the house to convey what the buyer will be receiving. If that isn’t possible, make certain your listing emphasizes what items are not included in the sale. Your agent will know how to do this, but you have to tell them it won’t be leaving. Otherwise, the deal may fall through due to a simple misunderstanding.
- Refusal of Costs
Has your buyer offered $4,000 over the asking price but asks you to cover the $4,000 closing costs? Before you say no, do the math and consider whether anyone else will pay your asking price. Put yourself in their shoes, as one day you will be, and give them the same amount of compassion you would want in this position.
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