3 Common Errors Sellers Make When Selling Their House Fast

Written by Posted On Monday, 28 April 2014 18:46

Unless you sell houses everyday, it’s easy to make a mistake when you need to sell your house fast.Of course, everyone makes mistakes, but when it comes to selling your home a mistake might cost you tens of thousands of dollars.

So it’s best to do your research.

Fortunately, many of the most common mistakes that homeowners make can be easily avoided if you know what to look for.

1. The Highest Offer is Not Always the Best Offer

When you need money it can be tempting to just accept the highest bid on your property. However that might be one of the biggest mistakes you can make, especially if you need money quickly.

Many buyers in Austin, TX know that a fast sale means you’re looking for money and so they’ll over-inflate their bid, knowing that they’ll never go through with the sale at that price.

Instead, they wait until after you’ve accepted their offer and find a reason in your contract or after an appraisalto ask for a reduction in price before closing.

That’s because buyers know that once you’ve committed to selling to them, you’re likely to be emotionally invested in the sale and are more likely to agree to their request.

Not only does that net you a lower amount in the end, but it can also result in wasted time while the two of you find a new compromise.

2. Don’t Pay Too Many Real Estate Fees

In the desire to make a sale was quickly as possible, some sellers agree to take on more than their fair share of expenses: transaction fees, closing costs, real estate commissions, appraisals, and/or a list of items that the buyer wants fixed before closing.

Remember that all of these expenses are negotiable. Before agreeing to a deal you should decide which of these fees you’re willing to pay for and which are off the table when it comes to the sale.

Some buyers may even agree to an “as-is” sale, which can decrease your expenses dramatically.

3. Make Sure the Buyer Has the Ability to Close

Before agreeing to a bid make sure your buyer actually has the ability to close. This is especially true if you’re looking at a cash home purchase.

Always ask to see bank statements or other proof of ability to pay. Otherwise, you may get tied up in a contract, just to have the buyer try and assign it to another buyer.

Worse yet, if they can’t assign it to another buyer they may walk away completely and leave you stranded.

So make sure to pick a buyer that is qualified to buy your home and actually has the funds to follow through.

Selling Your Home Quickly and Pain Free

Spend a little bit of extra time making sure your buyer has the funds they promise actually available and evaluate all the offers on the table. The little bit of extra time spent upfront will help you save time in the long run and may help lower your final expenses.

Follow these tips and, before long, you’ll be busy enjoying the money you made from the sale of your home.

Rate this item
(0 votes)
Jerred Morris

When selling a home in Austin or surrounding areas, you need a professional home buyer that is knowledgeable, approachable, and communicates effectively. Jerred Morris, owner of Jerred Buys Austin Houses, consistently delivers results for local families. His skills and enthusiastic attitude have distinguished him as a trusted home buyer in Austin. The local Austin Real Estate market is continually changing, and placing your trust in a home buyer that is knowledgeable, honest and approachable, is imperative to making the right choice when it comes to selling your home.


Agent Resource

Limited time offer - 50% off - click here

Realty Times

From buying and selling advice for consumers to money-making tips for Agents, our content, updated daily, has made Realty Times® a must-read, and see, for anyone involved in Real Estate.