Just as buyers can experience remorse, so can sellers. What are some of home sellers’ most common regrets? Find out below, so you can avoid such regrets when you decide to sell.
Not taking early offers seriously. Sellers often assume early offers are the first of many, or think they’ve priced too low when offers come quickly. So they wait. But offers decrease, in frequency and price, the longer a property’s on the market. That’s why early offers are typically the best. Buyers who jump on your listing early are motivated – exactly the kind you want.
Buying before selling. Saddled with two mortgages (an especially dicey position to be in if the market cools between buying and selling) and find themselves in a weaker position as a buyer (whose money is fed up in their current home) and a seller (who might get desperate to sell), many sellers have regretted buying that next home before selling their current one.
Not disclosing property defects. Sellers who try to keep secrets from buyers and even their own real estate sales representative inevitably regret not being honest and upfront about their property’s condition. Why? At best, they’ve lost the sale altogether when the buyer’s home inspection uncovers the [problem; at worse, they’ve found themselves tangled in a lawsuit after selling.
Selling without representation. When you consider the time and effort required for marketing; the complexity of the paperwork; and, above all, that fact that FSBO properties take longer to sell and sell for significantly less money than homes listed with a professional real estate salesperson; it’s no wonder so many homeowners regret selling their properties without any help.