Finally, it’s time to put up the for sale sign, get offers and sell your house in South Carolina. If only it were that easy. While it may not sound complicated at first, the process of selling a home has several aspects that sellers must consider to get top dollar for their home.
As difficult as it may be to believe, a slight misstep could end up costing you thousands of dollars and frustrations. Read on to discover the top five mistakes South Carolina home sellers make.
It Takes Money to Make Money
Underestimating your costs to list and wait for a sale is a common mistake South Carolina home sellers make. Naturally, there are costs involved in with updating the home and adding curb appeal.
While real estate agent commissions, which hover around five or six percent of the final sale price, are typically the largest of the expenses, it may be wise to have an inspection completed to allow you to be in the driver’s seat when it comes to any necessary repairs. When you list your property for sale, there is no guaranteed closing date. Utilities and other monthly expenses will continue until closing. You may also be required to pay any property taxes that are still due and possibly capital gains tax.
Marketing has risen to new heights in real estate, and the first walk through is usually virtual, which requires professional services. Considering the focus on the property is in high definition, staging has also become a standard expense for all home sales, rather than just model homes.
Priced Out of Comparable Range
Overpricing your home through emotionally driven pricing, is another mistake South Carolina home sellers make. Likewise, homeowners involved in their negotiations may become visibly upset, insulted by offers lower than their asking price, losing a suitable buyer.
Another way overpricing occurs is when sellers set an extra high price, assuming lower offers will come. Buyers seek homes by price range, and they can quickly assess your property, knowing that they can get more property from another seller for the same money. The properties most like yours and nearest your home that have recently sold will provide a more realistic price range. You’ll see that overpriced homes linger on the market which ends up costing you more money in holding costs.
Disclose, Disclose, Disclose
The potential to be the costliest of mistakes South Carolina home sellers make is the information they disclose about the property, and legal ramifications could run into the thousands.
First, disclose any issue in the past that you corrected. Next, you’ll want to provide permitting paperwork, if any. If you performed unpermitted work, you must provide the details you do have. Including any problems or repair work from previous owners is another must. Along with everything else, you should also have any previous inspection reports. Finally, if there are any issues based on the water working its way into the home’s structure, from roof to foundation, leaking, rotting wood, or flooding of any type, be sure to include this in your disclosure.
The staging a home during a sale has become common for many reasons. The major one is increased final price with faster results without paying for a complete property update. Professional stagers create a neutral background and add a fresh look and smell with paint on every wall so that potential buyers get that new home feeling, easily envisioning themselves living in the home.
However, stagers avoid absolute blandness by adding interest with pops of color through careful selections. Your belongings may go into storage in some cases, and the house refurnished to showcase the space’s full potential, including letting in the light through window dressings or lighting design. Not taking advantage of this sales tactic is a huge mistake South Carolina home sellers make.
Wrong Sales Method
Without reviewing all of your options, you’re likely to make one of the most costly mistakes South Carolina home sellers make, the wrong selling option. While real estate agents quickly come to mind when homeowners discuss selling, it can pay to take the time to explore all of the home selling methods that exist, including the costs, any projected timelines, and the stresses that may accompany the processes involved with each. Set out on paper the pros and cons of each technique, considering your specific circumstances, such as personal issues like a new job or family illness, facing heavy repairs, or financial complications causing pressure to sell quickly.
House Hub Real Estate Solutions can help you avoid these and other mistakes. At House Hub Real Estate Solutions, making the process easier is our job, outlining each sales method to help you make the best choice to sell your home. Working with House Hub Real Estate Solutions means guaranteed fast cash closings, usually as-is. Call House Hub Real Estate Solutions at 864-272-5400 or send us a message to learn more about saving time and money.