Home Business 6 Common Mistakes to Avoid When Selling a Distressed House – 2021 Guide

6 Common Mistakes to Avoid When Selling a Distressed House – 2021 Guide

by William Gist

Sometimes people have to sell their home and move out of their living area, and when the time comes for something like this, it’s pretty safe to say that it’s not an easy thing to do, especially if it’s your first time doing it and you don’t have any previous experience.

Thankfully, we live in the age of information, so even if you don’t have any clue about making a transaction on the real estate market, all it takes is just one click to raise your skill level from beginner to expert.

In today’s article, we’re going to help you acknowledge some of the most common mistakes that people do when they’re selling a distressed house. This way you can learn without having to make your own mistakes which can cost you a lot. We all know that selling homes is a process that includes larger sums of money, so one mistake can be equal to thousands of dollars, and that is something that none of us wants.

Besides, not everybody gets to sell more than one home in their life because it’s a pretty rare thing to do, so you should be careful how you approach the entire thing. Our goal is to help you, so let’s take a look at the things that you should know about.

source:unsplash.com

Not putting enough effort in the listing

As we mentioned above, we live in the digital age where people use phone apps and websites to do their daily tasks, and even to buy homes when the time comes for it. This means that the listing that you will create for your property will be the main representation and also the deciding factor for the number of interested customers that you are going to get.

A lot of people disregard the importance of the listing, so they either post it without all the required details or with photos that don’t represent the home in the best light. If you want to have the best possible selling experience, we advise you to not rush your listing and spend a lot of time and effort making it as perfect as possible.

Pricing higher than expected

source:kiplinger.com

Setting unrealistic prices is a mistake that a lot of beginner home sellers do. We are quite aware of the fact that money is very important nowadays, and that your home is very dear to you so you’d like to get the most out of it since you finally decided to sell it.

However, pricing higher than expected is going to be counterproductive, and it can result in not selling it at all which is the exact opposite of making a profit.

There is no denying that being proficient in the real estate market requires a lot of research and knowledge, which is why a lot of people decide to hire an agent to do this part of the process for them. Make sure that you spend some time researching the prices and the current condition of the real estate market in your living area. You can list just slightly over the average, but not too much because that’s going to be counterproductive.

source:unsplash.com

Not finding a reliable selling place

Another common mistake that a lot of people do is not spending enough time searching for a reliable selling platform. If you want to sell for a good price, and you want to do it quickly, you should get familiar with all reliable services, applications, and websites that are reputable and have a lot of visitors daily.

If you post your listing on an inactive site, chances are that it will take a lot longer to sell your home, if you even manage to sell it in the first place. If you’re not sure where to start, and you’re looking for a place where the listing is done in just a few seconds, you’re more than welcome to visit cash4homes-us.com and see what they have to offer.

Not asking for advice

Nowadays it’s really rare to find someone who can professionally help you without charging you, which is why a lot of people are not even considering the option of hiring a real estate consultant. However, when you look at it economically-wise, you can lose more money by making a bad sale than by hiring someone who can help you make the perfect transaction.

If you happen to have a friend or a family member who can help you for free, don’t be afraid to ask for advice. After all, not everybody gets the chance to sell a home in their life, and there are a lot of first-timers out there, so there’s nothing to be ashamed or afraid of.  

Rushing the sale

source:businessinsider.com

Yes, sometimes life is complicated and we’re required to make fast decisions with all that pressure sitting on our shoulders. But, when it comes to selling a home, rushing is simply not a good option, no matter what type of situation you’re in.

You never know if waiting two more hours can be the difference between finding the perfect buyer and selling for a price that’s heavily undercut considering the current market state. Take your time as much as you can, it can be worth it in the end.

source:recbc.ca

Choosing the wrong agent

Just as we mentioned above, not asking for any advice and help with the selling process is bad, but choosing the wrong agent can be even worse. If you decide to hire an agent to take care of the selling process for you, make sure that you’re making the right decision, or else you end up losing even more money.

You should always hire either very reputable solo agents, or speak with companies that have a lot of experience and are well-known for their professional service. It’s equally as important to take your time when it comes to finding the right agent, as it is to take your time when choosing the offers and finalizing the transaction. Patience will go a long way when you’re selling a distressed house.