Outstanding - Pat smoothed the way, was knowledgeable and made sure we felt welcome in the community...All went so well. J. Ouderkirk & R. Lyon
Call or Text (253) 444-7006
patg@windermere.com
Seller Mistakes
Selling your home can be exciting and challenging, especially if it's your first time. Avoid the common pitfalls and make your home selling experience less stressful. Don't inadvertently sabotage your sale! One of the most productive things you can do is connect with Pat to find out more details, let her walk you through the home listing process, set up a complementary seller's consultation or presentation.
Pricing
Price it too low and you could miss out on additional profit. Price it too high and lose serious buyers or waste weeks or months. And then you still have to reduce the price to get legitimate offers. The sooner you adjust your price to reflect the market value, the more likely you are to get maximum proceeds.
Remember what a seller 'needs' to get in order to buy their next home and what their current home is worth are two different and separate things. Don't confuse the two. A house must be price correctly for the neighborhood and current market conditions. The goal is to sell your home quickly at a competitive price .
When you owe on a mortgage a portion of your sale proceeds will pay off the balance of your loan. But what if you owe more than what it’s worth? This is known as being upside-down, underwater or having negative equity on your home. If upside-down, selling your home won't make enough money to pay off your mortgage. Breaking even on your home sale is only slightly better,
If either of this applies it's better not to sell unless you need to avoid bankruptcy or foreclosure. Usually, the best option is to stay in your home and work hard to build more equity before you sell. If you owe more on the house than it’s worth and absolutely must sell then you may need to consider a “short sale.”
Budgeting
Many sellers don’t have a clear picture of their financial situation prior to selling causing unexpected and unpleasant surprises.
Assess your income, debt, and upcoming moving expenses. Contact your bank and mortgage advisor to clearly understand exactly how much you owe on your current home.
Consider your sales price target plus the costs of selling your house to understand how much you will pocket after the sale. Know exactly how much you can afford for your new place and all your monthly expenses (like car payments, student loans, tuition, credit card debt, retirement savings, utilities, etc.)
While selling a home is normally a very profitable experience, many home sellers forget about the costs associated with selling a house.
Some common expenses are agent commissions (6-5%) and closing costs (1-3%) of the total sale price, staging costs, home inspection repairs or repair discounts, any other seller concessions agreed to in the contract, moving expenses, etc.
There can also be unusual expenses to consider. For example, the costs of any special marketing expenses or strategies. Consider cash savings too to cover any unexpected repairs or emergencies that could arise.
Hiring a moving company can be expensive, especially during busy months. Renting a truck or borrowing one from a friend will save money but is a great deal of work.
By hiring a moving company, rather than doing it yourself, you’re getting someone who will insure your belongings, pack and move them , and then unpack them in your new home.
A full-service mover can be well worth it. Especially when you’re preoccupied with all of the other tasks associated with selling your home.
*Disclaimer: Everything shared on any of our websites is for educational purposes only and are never recommendations! You alone are solely responsible for conducting your own independent research and due diligence before taking action. We assume no responsibility or liability for your decisions.
Call or Text (253) 444-7006
patg@windermere.com
