SELLING
Top Five
Home Seller Mistakes
How to avoid potential pitfalls
BY ELAINE CHETTY
W
hen you are selling your home,
you have a certain idea of what
the right price is for the current
market. However, when buyers and agents are
coming through your home, this can be where
distorted perception meets reality.
1
Overpricing your home
If your home is overpriced, two things
will not happen: showings or offers. The
price is what sets the tone for show houses. To
avoid frustration over offers much lower than
your set price, have an open discussion with
your estate agent to set the right price for your
home.
2
Making showings difficult
Restricted showing times or having to be
present for all showings can impact the
amount of traffic through your home. If there
are many instructions or restrictions, buyers will
simply move on to those properties with fewer
rules. Ensure showings are convenient for both
you as the seller, as well as for potential buyers.
3
Not countering an offer
It is too easy to get hung up on the
starting number in an offer, when
the focus must be on what the end result
is. Failure to supply a counter offer sends a
discouraging signal to the buyer that can create
www.reimag.co.za
an uncomfortable situation. Buyers want to
do business with sellers who are eager to do
business with them. You do not have to give
away your home to do so, but responding with
a number in good faith is a good start.
4
Property condition denial
Will you as a buyer pay more for a
home with old systems? In today’s
property climate buyers, lenders, valuators and
inspectors thoroughly scrutinise homes. It is
not only the buyer, but the lender, valuator and
the buyer’s inspection company that can make
the call on your home’s condition. Before you
sell, be realistic about the condition of your
home.
5
Selective memory
Sellers often fear that if they disclose
too much, or provide too many details,
it can affect their ability to sell for the best
price. However, failure to disclose certain
information can open you up to liability after
the sale. If you answer the questions honestly
and fully disclose any known issues or repairs
that were made (with receipts to document),
it will eliminate doubt from potential buyers.
RESOURCES
Seeff, Richard’s Bay
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