Friday, September 30, 2022 / by Jake Uriegas
Selling a property can be just as stressful as buying one. Your home is where your treasured memories—and probably your largest financial investment—reside.
You want every part of the sale to go smoothly. So don’t let incorrect or outdated ideas influence your transaction!
Avoid these 5 myths when you put your house on the market
MYTH 1 - REMODELING PROJECTS ALWAYS YIELD DIVIDENDS WHEN YOU SELL
Your renovation could pay off when it’s time to sell, but many don’t. Some updates may make your property more attractive to buyers, and others do raise appraisal values and sale prices, but don’t count on getting back dollar-for-dollar what you spent.
MYTH 2 - YOUR HOUSE IS WORTH WHAT YOUR FRIEND’S OR NEIGHBOR’S HOUSE SOLD FOR
Many factors determine your home’s value, including property condition and nearby comparable sales. Appraisals aren’t the same as sale prices, either. Just because your neighbor sold her home for $50,000 over asking price doesn’t mean yours will. Every situation is different.
MYTH 3 - YOU’LL SAVE MONEY BY SELLING THE HOME YOURSELF
A REALTOR® is a trusted professional who can guide you through each step of the transaction, including pricing your home and assessing offers. A REALTOR® can help you avoid missing important deadlines or making costly mistakes that could threaten the entire sale. Your REALTOR® also may be able to help you attract more and better offers.
MYTH 4 - THE HIGHEST OFFER IS ALWAYS THE BEST
Money is important but other factors matter, too. The best offer also works with your timetable and terms. Your REALTOR® can help you navigate multiple offers.
MYTH 5 - DON’T ACCEPT THE FIRST OFFER
Sometimes the first offer is the best offer. Don’t disregard it just because it arrived first. Consider whether it meets your goals and what might happen if you reject it without having other offers in hand.
Source: Texas REALTORS®
Photo by Nick Youngson