How You Can Prevent These 7 Home Seller Disasters
When you’re selling your home, the last thing that you could possibly want is a last-minute surprise. You can expect to encounter a few bumps along the way in your home selling experience. Unfortunately, there are some of those bumps that may be worse than others. As a home seller, you want to get the best price possible for your home and a few unexpected surprises can force you to drop your selling price significantly. While some of those surprises may be uncontrollable, many of them are actually preventable! Let’s discuss 7 possible problems that home sellers could face and how you can make sure that they don’t happen throughout your home selling process.
Small, Yet Significant Structural Problems
It’s understandable why so many buyers tend to get nervous when structural problems are identified. Who wants to buy a home that isn’t 100% structurally sound? Things like mold, termite damage, or sub-par support systems can make many buyers skittish. As a home seller, you don’t want the buyer to back out simply because of a few minor structural issues.
Fortunately, there is an easy way to prevent that from happening: Just get a pre-inspection! The inspector will pick up on any structural concerns or minor problems before you take on any potential buyers. With the issues identified, you’ll be able to remedy those problems quickly before any buyers make an offer on your property.
Your Lender Messes Up Big Time
Many home sellers have a lender to help them sell their home faster. However, not all lenders are the same! If you select the wrong lender, you could end up kicking yourself over it for some time. We’ve heard some horror stories where the paperwork of a home seller is completely forgotten by a lender! In other stories we’ve heard, careless mistakes on certain pieces of paperwork ended up derailing the entire transaction. You definitely don’t want to terminate your sale just because of the incompetence of your lender.
You can avoid this problem by conducting thorough research up front on the best lenders for your situation. You should also rely on your real estate agent when deciding on a lender. They’ll be able to facilitate clear communication and check in with the lender often to make sure nothing gets lost in the weeds. Don’t forget to have copies of all the documents! You never know what could go wrong.
A Pre-Qualified Buyer Was NOT Pre-Approved
Believe me: It is not difficult to become pre-qualified as a buyer. The screening process to pre-qualify potential home buyers is not an in-depth analysis. Pre-qualification just requires some simple data entry. Even online calculators can handle it.
Don’t make the rookie mistake of equating pre-qualified to pre-approved! If a home buyer is touring homes with an agent, they might not have any buying power at all. They might only be pre-qualified and nothing more. As a home seller, you need to be very cautious of this mistake. Only serious home buyers will have a pre-approval commitment from an actual lender.
This is where an experienced realtor comes in handy! They can triple-check the qualifications of each potential buyer and ask those pre-qualified ones to get pre-approval from a trusted lender. When they have that pre-approval, their offer on your home is far more legitimate and trust-worthy.
A Concerning Appraisal
If you’re selling your home, then you need to undergo a real estate appraisal of your home. This process influences how much money you can possibly gain from your sale. Unfortunately, the appraisal process can be, on occasion, disappointing. Sometimes an appraiser will struggle to accurately measure the appreciation within your community. They might even have an easier time showing depreciation instead. In other cases, your home could be appraised by an out-of-town representative, which will only hurt the overall value of your home since they are very unfamiliar with the area. You need an accurate appraisal to maximize the listing price for your home, and a poor appraisal process just won't do you any good.
The best way to avoid this potential disaster is to work with a local and trust-worthy appraiser. Yes, we know that you are concerned about money throughout your selling process. You might want to go with the cheapest option for an appraisal now, but that minor price difference won’t be worthwhile later on. As a trusted real estate agent in Denver, I have seen my fair share of appraisals throughout my career. I’ve worked with a number of different appraisers throughout the Denver area over the years, so I can provide you with great recommendations on the best and most respected ones in our great city.
You Took Something In The Move & The Buyer Gets Angry
This happens more often than you think. In many instances within the real estate business, a home seller may remove something that might be seen as a “permanent fixture” when they move out. It could be curtain rods, appliances, chandeliers, or even standard light fixtures. These things may feel like they belong to you, but many of them are generally expected to remain in the home when you move out.
You don’t want to upset the home buyer, so you should try to prevent this kind of confusion from happening. Take the time to review the list of permanent fixtures with your real estate agent after an offer is made. Since your realtor is the real estate agent, they can provide clarity and guidance on what you can take and what needs to stay. Maybe that chandelier has been in the family for years and you absolutely want to take it with you. You might be able to take the fixture, you’ll just need to be completely transparent with the buyer and let them know that they’ll need to buy a new light fixture in that room.
Rushing The Home Repairs
After the home inspection, you were probably given a to-do list of essential repairs that need to be completed before the closing day. Timing is critical throughout the selling process and if you fall behind on your repairs, you’ll be rushing about trying to complete them up till the last minute. Talk about a stressful home seller nightmare!
Since those home repairs have to be finished before the closing day, you shouldn’t rely solely on your own two hands to get them completed. Call in a contractor to handle some of those bigger repairs (and some of the smaller ones too)! Their professional support will make your selling experience much easier and it’ll open up your time to other important tasks (e.g., packing, moving, meeting with your realtor, etc.). Don’t forget the warranty too! Make sure your contractor can offer one of those.
Are you struggling to find a trust-worthy contractor? Don’t worry, we’ve got you covered. Over the years, Grant has slowly developed great relationships with Denver’s best and most professional contractors. We’ll give you great recommendations on the ideal person to finish up your repairs.
A Difficult Real Estate Agent
The worst home seller nightmare is having to work with an increasingly difficult and frustrating real estate agent. Maybe you were just doing a friend a favor and using their cousin as your real estate agent to sell your home. Now you’re full of regret because your home has been sitting on the market for far too long and you’re struggling to deal with your current agent in a professional and friendly manner. Your choice in a real estate agent is a huge decision with drastic impacts. Ideally, you need a professional representative who is approachable, knowledgeable, and above all likable.
If you’ve had a bad or even average experience with your last real estate agent, I have complete confidence that I will exceed your expectations. I couple great service with cutting-edge digital technology to make your home stand out to potential buyers. By leveraging Facebook marketing, email marketing, a beautiful website, HD videos, 3D tours, professional photography, personal connections, and more, I will get your home SOLD to the right buyer in fast manner and for the best possible price!
Have any of these things happened to you when you sold your last home?
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