Selling your home: What to avoid when selling your house
Today I'm going to talk about what not to do when selling your home. And the number one thing is underestimating the cost of selling your home. Now, the first thing that comes into the seller's mind is, Oh my God, what is it going to cost me to pay my realtor? Granted, we will save you quite a bit of money, but our expense is probably one of the largest ones you're going to have. But don't forget, there are other fees besides paying us. You're going to have escrow fees, you're going to have a city and county transfer tax potentially. If you are in an HOA, you are going to have to pay for the HOA transfer fees. And don't forget if your home needs a lot of repairs, there are some repairs that are worthwhile doing in order to get the maximum price for your home.
In terms of repairs and remodels, the question always going to come up, how can I maximize my money? Well, here's the thing, comment below and I will send you a list of statistics as to what will give you your biggest ROI in terms of remodeling and repair costs. Here's the second thing you should avoid when selling your house, is pricing your house too high. I realize as a seller, you want to price your house way up here because you're thinking buyers are going to start negotiating the price and then you're going to end up down here. Well, in real estate world, you really want to price conservatively and hopefully, you'll get multiple buyers interested in your home and then get a multiple offer situation in which you can create a little bidding war. Our market has changed, so don't expect 10 offers on your house unless it's this super great house and it's priced amazingly. But if you're going to overprice your house in our market right now, you will be one of those houses that will be sitting on the market for way too long, and eventually, you're going to start reducing your price and end up way down here.
Number three to consider. Now, if you are lucky to receive multiple offers, you don't want to just look at the purchase price and take the highest offer because there are more things to consider. You have a physical contingency, you have an appraisal contingency, and you have a loan contingency. Your goal should be take the strongest offers so you get this deal done because you don't want to be one of those houses that are back on the market. For example, if you have an all cash offer for $10,000 lower than another offer where the buyer's only putting 5% down, trust me, you may want to seriously consider taking that all cash offer because it is the more secure thing to do. Same with physical inspection period. I consider that the nail biting period, and that's the time for your buyer where they can renegotiate the price. I realize that can sound a little complicated, but hey, that's what you're paying us for, right? We're here to help you navigate through this and help you determine the strongest offer.
Another thing not to do when selling your home is not to get inspections ahead of time. Please dear seller, get your inspections done ahead of time. Your buyers, I can guarantee you will get their inspections done if you don't and that is when they will find out that this house needs all of these repairs and they know that you're already in escrow and they're going to ask you for so much more money off. Let's just keep it simple. Just do your inspections ahead of time. I forgot what number we're on, but here's another point on what you should avoid when selling your home, and that is limiting viewings. I realize it can be a royal pain in the B to have people walk in and out of your home while you're wanting to have dinner or watch TV, and every time you need to clean up your house. But here's the thing, the more eyes that your home gets typically means the higher price offer you're going to get.
And here's the last thing I want to mention to avoid when selling your home, and that is not prepping your home. Now, your agent, if you have one, is going to give you a lot of guidance on what not to do and what to do. But in general, you want to declutter. You want to make sure your home has a nice curve appeal. Ideally, your agent will pre-market your home before it even comes live and make those minor repairs. Paint the house. It may cost you a little bit of money, but some interior paint will do wonders. How about getting your windows cleaned? And while we're at it, why not have the whole house cleaned? And staging your home is amazing, and statistically, you will sell your home a lot faster and to a higher price with a well-staged home.
I realize there are a ton of more things that you should be avoiding when you're a seller, but hey, again, that's what you're paying us for is to guide you through the process. I hope this video helped you a little bit. Please comment below, subscribe, and like, and I hope to see you next time. Take care.