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Common Selling Mistakes
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So much is involved in selling your home, it is important that you are fully aware of the costs, factors, and ways of measuring results. Some serious delays and issues can be avoided by simply avoiding a few key mistakes. For more information, see also the Sellers Corner at HomeSalesRI.com for Rhode Island properties and at Homes-in-MA.com for Massachusetts properties. Especially, read the reports here, take your time, and feel free to ask any questions you might have.
Mistake #1 -- Placing the Wrong Price on Your Property
Every seller obviously wants to get the most money for his or her product. Ironically, the best way to do this is NOT to list your product at an excessively high price! A high listing price will cause some prospective buyers to lose interest before even seeing your property. Also, it may lead other buyers to expect more than what you have to offer. As a result, overpriced properties tend to take an unusually long time to sell, and they end up being sold at a lower price.
Mistake #2 -- Mistaking Re-finance Appraisals for the Market Value
Unfortunately, a re-finance appraisal may have been stated at an untruthfully high price. Often, lenders estimate the value of your property to be higher than it actually is in order to encourage re-financing. The market value of your home could actually be lower. Your best bet is to ask your realtor for the most recent information regarding property sales in your community. This will give you an up-to-date and factually accurate estimate of your property value.
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