Over 5500 homes sold for $100,000 the asking price or more in the first couple of months of 2022.

With that kind of success, it seems like you can do no wrong when selling a house. The market is starting to shift because of interest rate increases.

The market is starting to cool off and buyers are waiting out the market for prices to return to normal. That means you can’t afford to make any mistakes when selling your home.

You might not get six figures above the asking price, but if you avoid the most common house selling mistakes, you’ll get a fair house price.

What are the top mistakes when selling your home? Keep reading to learn the top eight mistakes and how you can avoid them.

1. Don’t Know Reasons for Selling

There are thousands of homes for sale across the country right now. Each homeowner has their own motivation to sell.

Some people feel it’s the right time to move on. Others are leaving the country or downsizing because of high costs.

There are homeowners that need to sell because they’re late on payments.

You should get clear on why you’re selling your home. Understanding your motivation to sell helps you find the best house selling strategy.

You’re also aware of how much you’re willing to negotiate down from your asking price.

2. Don’t Look at All of Your Options to Sell

Home sellers assume there’s only one way to sell a house. They hire an agent and let them do the work. That’s certainly not a bad option. The right real estate agent can locate potential house buyers and get a fair house price.

That’s not your only option, though.

Don’t overlook companies that specialize in selling houses for cash. You can also sell the house yourself.

If you need to sell quickly or don’t want to bother with the home selling process, then look at companies like memphis.webuyhouses.com. They specialize in the Memphis area and can get a deal closed in a couple of weeks.

Weigh your motivations for selling and your needs. Consider which option to sell is the best fit for your situation.

3. Sell at the Wrong Time

Putting your house on the market right before Christmas isn’t going to help you sell it quickly. Even in a hot housing market like this one, timing still matters.

Potential house buyers are looking to buy homes in the spring and summer. The market cools off between September and October.

You want to time your home sale with the market. You’re likely to get better offers if you list the home when the weather’s warm and the sun is shining.

4. Don’t Bother With Repairs

Are there minor repairs that you’ve been putting off?

Unless you’re selling the home as-is, you need to take care of these issues immediately. There are a few ways to deal with repairs and make them part of your house selling strategy.

Get an inspection done to know all of the repairs in advance.

You can do the repairs yourself or hire someone to do them for you. An alternative is to acknowledge the repairs that need to happen and give a credit to the buyers.

You could do nothing and wait for the buyers’ inspector to tell you what’s wrong with the home. You’ll then have to renegotiate the contract and delay the home sale.

5. Hide Issues With the Home

You might know about minor things that could impact a buyer’s enjoyment of the home. You don’t want to reveal them because you don’t think they’re important. You don’t want these things to turn into lowball offers, either.

The problem with that is these things are going to come to light. You could get accused of fraud and get sued because you withheld information.

It could be illegal in your state to withhold information about the house.

Don’t hide issues with the home. Reveal what you know in advance. Buyers will trust you and you’ll get a better offer for the home.

6. Cut Costs on Curb Appeal

Curb appeal is the first impression people have of your home. Potential house buyers will decide on the spot how much they’ll offer based on curb appeal.

The real estate agents that specialize in selling houses quickly know that curb appeal is worth it.

Add flowers and colors to the front of the home and repaint the front door. Clean up the yard and clear clutter on the inside of the home.

Spend the money to get professional real estate photos done. Buyers look online first, making your online presence part of curb appeal.

7. Don’t Factor Closing Costs

You go through all of the steps to sell a house. You already have your proceeds from the sale earmarked for special things like a vacation and investments.

Then you realize you have to pay thousands in closing costs. There goes your vacation.

Closing costs vary based on your house selling strategy and your location. Expect to pay between 6% and 10% of the sale price in closing costs.

Commissions, taxes, escrow fees, and title insurance are part of the closing costs.

8. Get Emotional

Selling a house is an emotional process. You’re changing homes and parting with many memories made inside the home.

The mistake that home sellers make is they let their emotions cloud their judgment. They might not be willing to negotiate or set a sales price that’s way above market value.

Don’t make this mistake. Put your emotions aside or get a neutral third party to help you with the sale.

Don’t Make These Common House Selling Mistakes

Selling a house in this real estate market is far from a sure thing. You want to protect your investment by avoiding the mistakes you make when putting your home on the market.

Now that you just learned the most common house selling mistakes, you’ll be able to sell your home quickly. You’ll attract potential house buyers and get a fair house price.

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