If something can go wrong,
it will? Well, possibly. But let's be optimistic.
With planning and awareness you can keep the almost inevitable inconveniences
and frustrations associated with a sale and move to a minimum. Relax. And
read on to "break the law".
1.
Understand That Your Home May Not Be Worth What You Think The biggest shock most sellers face is what agents
and buyers think their home is worth. Sometimes sellers can be pleasantly
surprised, but the reality is that markets change, and home values rise
and fall. Many subjective factors such as floor plan, condition, updates
and drive-up appeal affect home values.
The truth is buyers will determine the worth of your home, in this market,
at this particular time, and that has very little to do with what you need
to get out of the home.
2. People Won't Love Your Home
Like You Do You love your home
and expect others to appreciate the same qualities in it that you do, but
buyers have their own lifestyles, preferences, tastes and attitudes. The
chances of finding a buyer who will want your home "as is" are slim to none.
In fact, buyers will look at your home with an eye to how they can make
it suit themselves. They may knock out that wall where you have your prize
fish tank, tear down that designer wallpaper you had imported from England
and gut the kitchen where you spent so many Thanksgivings preparing dinner.
All those changes cost money, so they will value your home less as they
consider remodeling and decorating costs.
Remember, your home is competing against other homes with updates and features
your home may not offer. Your home has to withstand the glare of scrutiny,
so you must make it as competitive as possible within your means. Put it
in good repair, and make sure it is spotless and clutter-free.
3. Sooner Or Later You Will Lose Your
Temper Your relationship with your
buyer will be one of love-hate. The buyer is an adversary because they want
to pay the least for your home, while you want to net the most possible.
The buyer, in order to improve bargaining leverage, may pick your home apart.
Many of the buyer's complaints and requests for repairs will be legitimate,
but some may not. In fact, some requests can be outrageous.
Stay focused on your goal to sell the home, and
keep your cool. Let your agent tell their agent yes, or no. Remember, your
home can't close until everyone is happy, so be flexible and willing to
compromise. Don't let your feelings fester. If you are truly uncomfortable
about anything, inform your agent immediately.
4.
Unexpected Showings Buyers aren't
going to operate on your schedule. They may want to see the home at any
time of the day or evening. Your agent will ask you to keep your home in
show condition. Don't worry that the bed wasn't made. Trust that only serious
buyers will be allowed to see your home.
5. Buyer rudeness Poor manners is rampant in our society. So why
be surprised when buyers visit your home and leave their sweaty McDonald's
cup on your coffee table? Or leave the cabinets and closet doors open wherever
they looked? Or miss their appointment, expecting you to reschedule at a
moment's notice?
As tempting as it may be to play Miss Manners, it's not worth passing up
a good offer because the buyer had to change a dirty diaper and left it
in your trash bin.
6. Inspections
Inspections kill more deals than any other single factor besides overpricing.
All older homes have some minor and some major problems, so address the
problem before it becomes a problem. Get a seller's inspection, and you'll
have advance knowledge of any problems that must be fixed. A buyer who sees
a favorable inspection report as part of the home marketing materials is
more likely to make a fair price offer. (Editor's note: Buyers should always
have their own inspections performed.)
7. Last Minute Problems That Delay
Closing Service providers, from lenders to inspectors to
closing agents, may cause problems, sometimes without meaning to. In some
areas, closings are happening at such a rate that all service providers
associated with the real estate transaction are on overload. So schedule
all steps in the transaction early. Track the transaction with your agent
so you know which steps have been fulfilled properly. Have your agent nudge
anyone along who is late with their piece.