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6 Home Selling Mistakes to Avoid in Sacramento

Steer Clear of These Frequent Mistakes that Home Sellers Make 

Every homeowner who decides to sell their home wants every part of the endeavor to go smoothly. Inevitably, it can prove itself to be a bit expensive and stressful putting one of your greatest investments on the line for someone else to buy now. Common home selling mistakes can make the process more difficult, but knowledge is power. Avoiding these errors by becoming aware of what they are and what you can do to prevent them can leave you satisfied with the sale and bring you the most profit.

1. Miscalculating the numbers

There are quite a bit of numbers involved in selling your home. The expense of getting your home ready to sell, the price you set on the home and the costs involved once sale is in motion (agent commissions, closing, repairs). Sometimes the cost of selling your home can be 15% of the sale price which is a big chunk of change when you see it on paper, however, each home sale is different and there are ways to avoid losing this much of the profit. 

Before you decide to sell your home, complete a net proceeds calculation with the different options of home selling. Each way to sell your home, whether traditional (through a real estate agency) or nontraditional (sell home as-is for cash), comes with its own set of advantages and disadvantages. Calculating which way would cost you the least amount in the long run or seeing that no matter which route you take, you may end up spending the same amount, can clear up the unknowns in the decision-making process. Be sure that you are not lowballing the value of your home and cheating yourself out of profit. On the other hand, if you price your home too high it could sit on the market with no offers for an extended period of time. 
If you decide to go the non-traditional route, off-market buyers who make cash offers for home can free you up on home staging expenses and even commission, closing, and repair costs. House buyers who sell quick homes usually want to buy your home as-is and without the involvement of a real estate agent, this could be a less stressful alternative. By searching for cash home buyers near me, you can see a variety of companies that buys houses and can partner with you to sell your house fast cash quickly if needed.

2. Ignoring Necessary Repairs

When you post your home on the market, not only does it have to pass a potential buyer walk through of the property but even more than that, it has to pass inspection. Even issues that don’t seem major like a broken appliance or faulty bathroom faucet the inspector’s assessment will uncover any hidden wrongs within the home. If there are issues that haven’t been repaired, it could lengthen the time until closing or the buyer could back out altogether. When you do decide to hire someone to complete any home improvement project, be sure to also check the validity of the company by researching the company, the house buyers website and their reviews. Get all the project and repair details in writing so that you are aware of the expense and all of the work going into your home to avoid being scammed. 

If your house stays on the market for too long, other buyers who want to underbid you or even scammers might become interested. If the homebuyer is rushing you to sell your home fast, this could be a sign that they are trying to trick you out of money. 
Selling to an off-market buyer, however, you can skip all the time, money and hassle of preparing your home for a sale. Off-market buyers make up some of the best companies that buy houses for cash. Buying homes as-is means that even major foundational issues like faulty electrical systems, plumbing or roof leaks don’t turn these buyers off from sales. These are businesses which buys houses with intent to flip it either for themselves or to turn around and sell it for profit after investing into upgrades.

3. Failing to Attract Potential Buyers Due to Lack of Staging 

Staging your home or “setting the stage” means making your home ready for potential buyers to see the possibility of what the home has to offer with different styles and layout of furniture/decor etc. 

Decluttering your home can also highlight your home’s strength in the amount of space it provides and can show that your home has been maintained well. Both decluttering and staging take time and help prospective buyers to envision their own furniture and belongings in the home. However, they also need to be accounted for in the expenses of selling your home. Hiring a stager, professional cleaning, painting, or renting furniture can cost between $500-1,800 easily and because of that they can raise the value of your home when compared with homes that have not been staged or decluttered. If your home isn’t in immaculate condition, it could set you up for lower offer prices from potential buyers or prolong the amount of time on the market. 

When you sell your home off-market, you sell your home as-is, meaning there is no need to spend money on staging because it is already assumed that your home will need upgrades. This also means that if your home is outdated, you won’t have to be as concerned about it not selling because it is not meeting modern styles and standards.

4. Unrealistic Expectations of Time

Anyone who posts their home for sale is hoping that it sells quickly, easing any worry that it will sit on the market with no bites. Apart from waiting for an offer (which could take months), another component to keep in mind is holding costs. Holding costs include the expense of property taxes, home insurance, utility bills and maintenance while it is sitting on the market. Obviously the longer it stays on the market, the more money you are still spending to keep it. 

If potential buyers or agents see that your home has been on the market for an extended period of time, they may assume that since no one else has taken your home off the market, assumptions may be made about your home that something is wrong with it. This is true of a lot of things people put on markets to sell including cars.

5. Selling Your Home by Yourself

While skipping the costs of hiring an agent may sound appealing, taking the sale into your own hands comes at a cost of its own. Not having the same opportunities to show your home off the people looking for homes for sale as easily as a realtor and every task involved in the sale is now on your plate of responsibilities for it to be a success. More than one third of sellers who choose the For Sale By Owner route do not actively promote their home at all. This could also lead to you not taking into account the other costs leaving you disappointed when you find out all that the selling process costs without having an agent to guide you through the process. If you price your home below the price that it could potentially go for and handle all the showings, this could quickly become an overwhelming experience for you, resulting in an ugly outcome. 

Hiring an agent comes with many benefits including being able to catch any mistake in the listing, saving the seller from any buyer who tries to sue the seller when/if the description of the home doesn’t match the actual home. Also all of the paperwork involved in selling a home (contracts, property disclosures, etc.) will be on your shoulders if you have no one to help you with the documents.

6. Choosing the Wrong Agent

Unfortunately, there are many opportunities to short-change yourself on the price you set out for your home, and hiring an agent who is maybe inexperienced or who has been unsuccessful at their job is another way to cost you in the long run. Someone who is in a rush to sell your home for their own profit and might even push for a lower sale price so they can get it over with and get their paycheck. If you do decide to hire an agent here are a few things to consider when choosing who to partner with:

  • Ask for referrals– Ask  anyone you know that you trust, family, friends, who they recommend as a realtor or who they have worked with in the past and had a good experience with already.
  • Research Online– Read reviews of realtors you are looking into or are referred to of the agents that you are considering doing business with beforehand.
  • Visit an Open House of the Agent of Your Interest- Watch firsthand how this realtor works with potential buyers and how they interact with the sellers if they are present also. 
  •  Interview Proposed Agents- Meet with your prospective agents and see if they are a good fit for selling your home, meeting your needs and giving them your business. Look for good communication, their approach to marketing, and their knowledge and skill on their profession
  • Thoroughly Read the Contract– Read the fine print before signing any documents and with a realtor. Ask any necessary clarifying questions about their policies and obligations under the real estate listing agreement.

The Choice is Yours, Invesco is Here to Help

It is ultimately up to you whether you should sell through a realtor or a company that buys houses for cash. Make sure you work with a company that matches your schedule, financial situation, and comfort level.

When you make a direct sale to Invesco Property Solutions, you don’t have to worry about cleaning out everything or doing repairs. Invesco Property Solutions buys as-is with guaranteed cash closings in as few as seven days. And if that’s a little fast for your plans, we can schedule the closing date around your move, making the process as easy as possible. 

Let us compare what you’d earn by selling your home via a traditional listing vs. what you’d earn with a direct sale, and you’ll see that our offer is fair. We want you to compare for yourself to help you make an educated decision about the best way to sell.

If you’d like to get a fair cash offer on your house, Invesco Property Solutions buys houses for cash in any condition in Sacramento county. Contact us today at 916-455-8515 to learn more about a different home buying process.