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Mistakes to Avoid When Selling Home - Altius Directory

Mistakes to Avoid When Selling Home

Several people wish to sell their own house due to several reasons – to buy a new home, financial troubles, shifting from the area etc. Whatever the reasons may be, many commit several mistakes while the house is being sold. You need to know them to avoid the troubles if you are about to sell your own house.

1: Estimating the rate of the property yourself

In general, every one of us does have basic idea about the rate of the houses in our locality. But, it doesn’t mean that you can stick with your calculations. It is really important to consult the engineering for the accurate estimation of the value. He calculates the appreciation of the land and the depreciation of the house and gives a figure. Else, the brokers also assist as they continuously stay in the same process. This avoids the disturbances during the negotiations with the buyers. You can have command over your word with the knowledge of issues related to the calculations like the current market rate in the area, the nearby facilities in the area, amenities provided in the house etc. Thus, you can convince your buyer easily with your explanation.

2: Become sentimentally involved at the buyer’s comment

When you build a house and live in the house for a long time, you improve a kind of attachment with the house.  While selling the house, several people come and visit the house. They also peep into the every hook and corner. Some of them may also pass comments on the way of construction or structure of the house. You need not to bother at general comments as the buyer’s point of view would be definitely different from yours. You can just explain them that they could either modify or improve the house after buying.

3: Not making the house ready to sell

Though buyers modify and paint the house after buying, it is the basic responsibility of the seller to keep the house in good condition. Minimum requirements like plumbing works, electric issues, repairs and patch works must be done before setting the house to sell. Buyers would be less attracted by the nasty look of the house. If you are staying in the house, always keep the house clean. Buyers are not bothered with the earlier maintenance but with the current situation. Let the house be ventilated during the visit of the buyers.

4: Hiding the major issues

You must be very clear in informing the reasons of selling and the issues related to the property. Many of the houses may have different kind of legal issues and hiding them may temporarily skip you from the issues but leaves you with major penalty in the future. The properties with joint ownership or property descended from forefathers often have legal impediments. Consulting the legal advisor at the earliest is the basic thing to be done. Either fixing the problem or informing the buyers is highly suggested. If the buyers are able to face the problem, you can mention that in written and sell the property. Reducing the price of the property is also one of the options.

5: Keeping the house in the selling list for a long time

If a house is in the selling list for a long time, the house will be marked with negative comments. This reduces the traffic of buyers. In case of delay, find out the reasons of lacking aspects that are keeping the house out of attraction. Check yourself, whether the price or appearance of the house is any of the reasons. Many people believe in religious things like vastu. Thus, check with the professional person whether your house is vastu compliant.

6: Sticking with the feelings like agent is compulsory or not at all needed

Whether you need an agent to sell the house or not depends on the knowledge you posses at the matter of selling houses. If you feel that you have enough confidence of dealing the matter yourself, you can spare the time to market the property. If you feel that you can’t spare time and don’t possess enough knowledge with the matter, you can consult an agent. There are advantages as well as disadvantages with the involvement of the agent.  You must check yourself whether you really need an agent to process the work or not.

7: Giving vague information in the advertisements

When you are posting an advertisement regarding the sale of the property, clear details with attractive photographs do attract the buyers making them to think about the house. Clear address, nearby facilities in the locality, amenities in the house, facing of the house, total area, carpet area, number of rooms etc would give the buyer a clear idea about the house. Many people mention the rate in the add itself to avoid unnecessary communication. Few others also mention whether negotiations are accepted or not to make the buyer get clear idea about the price of the house.

8: Being negligent with the security aspect

While selling the house, many people visit the house. Due to current crime rates, no one can be negligent with the security aspects. Be confirmed with the people who visit the house asking the buyers to take prior permission to visit the house. Children, female and senior citizens must be more careful while showing the house. Insurance policies that cover the unexpected incidents, is one of the advisable things.

9: Lost the major documents related to the property

In case of losing the major documents of the property, consult the legal advisor immediately. Though the buyer has nothing to do with few of the documents, the banks where the buyer is availing the loan may insist for the minor documents related to the house. Applying for the duplicates, filing a police case etc are few of the remedies that are usually advised by the legal advisors.