Providing information on Real Estate property

Providing information on Real Estate property

Privately selling your property could be dangerous

If you are thinking of selling your property privately, read this first.

Most private sellers make the following mistakes when trying to sell their property without the help of a real estate professional.

Overvaluing

This is a common mistake. If you think your property is valued more than it actually is you will not sell it at all.

Do your homework, get an estate agent to give you a valuation before you try to sell your property, this way you will know exactly what you should ask for your property.

Undervaluing

This is the worst mistake private sellers make, undervaluing their property.

If you don’t sell houses all day, how will you really know what your property is worth. I once knew a seller that wanted to sell his house for  $350,000 but when, after convincing him to get a valuation done, the property was in fact worth $520,000. That is a difference of $170,000!!!

Unforeseen Costs

If you are not a property professional you might not know all the costs involved when selling your home. Again you should consult people in the industry to make sure you know what selling your house will cost you.

People think they are going to save when selling their property privately, but this is not always the case.

Negotiation

This is where professional buyers walk all over private sellers. Most people do not have the necessary skills to effectively negotiate the sale of their home.

They are too personally involved.

A good estate agent knows how to negotiate and get you the right price, I know there are some “shady” ones out there, but if you use a respectable company you should be fine.

Estate agents spend an average of 7 hours with the seller and up to 32 hours negotiating with the buyer, these people know how to get the deal, so let them.

The most important thing to remember is this, you can sell your home privately, just make sure you have the know how to do so, and be careful, you could ruin your chances to get your new dream home if your current one does not sell.

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