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Selling Your Home by Yourself?
Dated: October 14 2019
Some would think that selling their property by themselves would save them money. That it would save them time, money and effort. They naively think that selling their property on their own would be an easy task. Selling your property not only is a strenuous process but it also requires research and a lot of paperwork to be accomplished. This is why hiring a real estate agent would be the best option. But if you try to sell your home by yourself, what are the possible problems to face?
These are the common problems that home sellers who do it by themselves face:
1. Home Inspection
- Having a home inspection is not just costly, it is accompanied by a lot of data that are regarding the issues of your home that are found out after this inspection. Not only will you need to treat these issues by repairing them but you also need to make sure to repair them with the least costing job order. You see, a home inspection is accompanied by additional costs that are often costly for any home seller.
2. Setting the Price
- Most home sellers think their property still has high value even after a few years just because it is still okay or a bit better compared to others. Little do they know that you must research the market for other properties similar to yours or even personally check them out so that you could set a better price for your house. Having an overpriced house will definitely not even end up selling. This is true even in areas where there is a shortage of properties. People are not willing to spend too much on a property that they could also purchase elsewhere at a cheaper price. Hiring a real estate agent would definitely help you as a home seller since they are well equipped with knowledge regarding every corner of the market. Selling your home without proper research and knowledge of the market would cost you not only money, but also your effort and as well as your time. Wasted time would not just be damaging for you but also for your property because as time goes by, your property’s value will decrease and what’s worse is that when you sell it after a long time, it would be worth even less than your mortgage which normally results to negative equity.
3. Finding Potential Home Buyers
- After listing up your property in the market, a lot of potential home buyers might come and show up at your doorstep but they are not necessarily the home buyer you have been waiting and looking for. They might just be interested in how your property would look like or even just come by thinking they can afford your property even if it is way out of their budget. You as a home seller should know that wanting to buy a home and being able to do so are different points of view.
4. Doing an Open House
- This is one of the oldest marketing strategies since the technology was not yet that advanced before. Yet, even now, some home sellers still apply this thinking that doing an open house would be simple and easy. Little do they know that when the day of the open house comes, most of the participants would be their neighbors who are just there to check out what’s new in your property. Even though you already listed your property in the market and announced an open house, it does not mean that potential home buyers would actually show up there immediately. And then that is when home sellers think, what went wrong?
After trying to sell your property on your own, you will later realize that you have been wasting your time, effort and money. Which in the end, would take a toll not just on you but on your finances. This would be detrimental for you. So, as a word of advice, try to hire a real estate agent to help you. They will not just aid you in listing your property in the market, they will also help you with the necessary paperwork which could also avoid any legal actions in case you would forget some important items.
Are you looking for a realtor who cares more about you than their commission? I became a Realtor because I bought my first house about 7 years ago, and I absolutely loved the process. As a first tim....