5 Mistakes First Time Sellers Should Avoid While Selling a Home in Nashville

2015/05/house-for-sale-300x300.jpgMany believe that Nashville’s housing market is gradually becoming favorable to sellers. As soon as a house is put on the market in a desirable neighborhood, many buyers come knocking at the seller’s door. Needless to say, the majority of sellers are those who are selling a home for the first time. For them, it’s a win-win situation.
However, many first time home sellers are prone to dropping their guard when they realize that their property is in huge demand. They don’t pay attention to their various obligations. It may prove a very costly mistake because irrespective of the market’s condition, sellers can’t afford to be negligent. It can cost them a huge amount of money and cause unnecessary stress.
If you’re also a first time home seller, here are some common mistakes that you need to avoid in order to get your home sold fast and for top dollar:
Mistake#1: Not thinking what happens after the sell
If you’re planning to buy another house, then you would need to start preparing for the purchase even before you put your home on the market. If you can time both the deals in way that you can move to your new place immediately, it will save you money and time as you don’t moving multiple times. If you have found the home you would like to buy and made an offer, then you can make the purchase contingent on the sale of your existing home. You should also get yourself pre-approved if you think you would need to take out a mortgage for purchasing your new home.
Mistake#2: not hiring an experienced real estate agent
While dealing in a seller’s market, many home owners think that they can handle the sale by themselves. But it can prove a big mistake. Even if your home is in demand, you should hire a real estate agent, so that you have a professional to guide you and inform you about your various obligations. In a multiple offer situation, the agent will help your determine which offer you should accept and which ones you should decline. Many sellers think that they should sell to the buyer offering the highest sales price, but evaluating an offer’s genuineness is not always that simple.
Mistake #3: Not being able to price the home right
One of the most important things for sellers is to price their home right, and you can’t just guess at the right price. Again, a real estate agent would help you put a price tag on your property by conducting a competitive market analysis (CMA) after studying the data related to the recent sales of homes in your neighborhood.
Mistake #4: Not being able to market your home properly
In a seller’s market, it’s wrong to assume that you don’t need to market your home. You run the risk of losing the buyer who could possibly offer you the best deal. For getting top dollar, you need to market your home properly. Some of the marketing tricks that buyers often ignore are getting the house move-in ready, making the house available to prospective buyers when they need to have a look and staging it properly.
Mistake #5: Not knowing how to negotiate with buyers
When you’ve got multiple offers, it becomes quite tricky to decide which offer you should accept. You need to negotiate with all the buyers and sell your home to one who is serious about purchasing your home and offers the best deal.