Michiana Home seller mistakes in South Bend

11 Major Mistakes Made by Michiana Home Sellers

Major mistakes made by sellers

From incorrect financing to lack of preparation, there are countless mistakes that a seller can make when putting their house on the market. This report covers some of the most common mistakes made by sellers during the property selling process.

If you’re serious about selling your house, it’s important that you know the facts. It seems like a simple prospect – just put your house on the market, show it to a few buyers, and make the sale – but as many sellers find out, selling a home can be a difficult, expensive and long prospect. By knowing some valuable information about the real estate industry, as well as some tips and tricks about selling your property, you’ll be able to more effectively tackle today’s real estate market. This report will tell you how you can:

  • Avoid making mistakes when selling your home
  • Make you aware of the most common mistakes home sellers make

Selling your home can be a difficult job, especially since you’re competing against hundreds of other properties. It’s vital that you be aware of what works and doesn’t work when it comes to home selling. Consider the following list of the most common mistakes made by home sellers:

Mistake 1: Setting the wrong price for your home

Experience shows the right price sells a house faster than any other factor. When the listing price is more than 5% over market value, the price alone discourages buyers. That’s because an overpriced house scares away potential buyers who think they can’t even afford to look. Buyers who do look at an overpriced house know they can get more house for their money elsewhere.

Mistake 2: Selling your home in ‘As-Is’ condition

In today’s competitive market, most buyers will not even consider a house that needs fix ups. In contrast, a sparkling showcase home gets top dollar when it comes to the bottom line. What most buyers are looking for is an inviting home in move-in condition, one that looks as good as a model home. Buyers who are willing to tackle the repairs after moving in automatically subtract the cost of needed fix-ups from the price they offer. Either way, you save nothing by putting off fix-ups and likely slow the sale of your house.

Mistake 3: Selling your home with a dull interior

A clean, bright decor is what buyers want. Probably the best dollar-for-dollar investment for selling your home fast is fresh paint. Neutral colors are best. Next to fresh paint, new carpeting–replaced for either condition or color–makes a big difference. Elbow grease can be as effective as spending cash to brighten your home. Start by ruthlessly getting rid of the junk you’ve accumulated. Clean each room top to bottom. Dare to make your home look better than you’ve ever had it looking before. Focus on the three rooms most inspected – kitchen, master bedroom and garage (if you’ve got one). Forget those and you may as well forget the buyer, too. In the kitchen, clear off counters and organize cupboards. Keep in mind, some prospects will judge the whole house by the cleanliness of the oven or refrigerator. In the master bedroom, move or remove furniture to create spaciousness. The ideal garage stores only cars and perhaps an orderly display of garden tools, so throw out your junk to show off room for theirs.

Mistake 4: No ‘Curb Appeal’

Your house gets only one chance to make a good first impression. That’s why “curb appeal” is one of the most critical points in selling. Buyers are apt to fall in love at first sight – or not at all. If your home lacks curb appeal, chances are the first impression will not be counteracted by the most perfect floor plan or the most tasteful interior. Spruce up the view of the house from the street, including lawn, shrubs, shutters, windows, front door, mailbox. Add potted flowers out front, a wreath on the door, brass outdoor lighting fixtures – whatever will enhance your home’s “buy me” look.

Mistake 5: Over-improving your home

While it’s important to fix whatever needs fixing to get your home ready for sale, undertaking a major project could cost more money than you would recover from the sale. Spending too much on remodeling projects just drains money out of your pocket. If your improvements will push your home’s value more than 20% over the average neighboring home values, don’t expect to recoup the entire cost. (Some major projects, however, like replacing a roof, should be done if they are needed.)

Mistake 6: Financing Incentives

The more buyers you appeal to in terms of financing, the greater your chances of selling faster. Be flexible, consider paying closing costs or points, providing a decorator’s allowance or other irresistible buyer incentives.

Mistake 7: Stretching out buyer negotiations

One of the most important moves you can make is to reply immediately to an offer. When buyers make an offer they are, right then, in the mood to buy. Moods, as you know, change, and you don’t want to lose a sale because you stall in replying.

Mistake 8: Being Adversarial during negotiations

No one wins if you enter negotiations with boxing gloves on. Instead, approach negotiations in a positive frame of mind, not as an adversary of the buyer. After all, you both want the same thing–a sale. Leave most of the discussion of price, terms, possession and other conditions up to your agent. We’ll make it our business to get you the best deal.

Mistake 9: Not having a presentable house

The presence of your family can make prospective buyers feel like intruders. If you’re at home when your home is being shown, be your usual friendly–but low-key–self and keep children and pets out from underfoot. It’s the agent’s job to show buyers what they need to see. Buyers can better focus on your home’s advantages by viewing them than by socializing. If an open house is scheduled, plan to be away from home, but let us know how to reach you quickly. When you’re not at home at other times, agents accompanying prospects will leave their business card. Please alert us afterward so we can follow up.

Mistake 10: Selling without a professional

Going it alone like General Custer could invite disaster. Without a professional adviser, you probably won’t sell. Even if you do sell, surveys show self-sellers often net less from the sale than sellers who use a real estate agent. Selling a house is a team effort between you and the listing agent. You’ll find agents do a lot more than most people know–from bringing qualified buyers to keeping things on track to settlement.

Mistake 11: Not consulting with John Tiffany first

My team at Integra Real Estate of Michiana, SouthBendInvest.com, or I are available to help homeowners and investors sell their porpoerty(ies).

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Mistakes to Aviod when selling South bend Real Estate

6 Mistakes to Avoid When Trading Up to a Larger Home

6 Mistakes to Avoid When Trading Up to a Larger Home

Unlike the experience of buying a first home, when you’re looking to move-up, and already own a home, there are certain factors that can complicate the situation. It’s very important for you to consider these issues before you list your home for sale.

Not only is there the issue of financing to consider, but you also have to sell your present home at exactly the right time in order to avoid either the financial burden of owning two homes or, just as bad, the dilemma of having no place to live during the gap between closings.

In this report, we outline the six most common mistakes homeowners make when moving to a larger home. Knowledge of these six mistakes, and the strategies to overcome them, will help you make informed choices before you put your existing home on the market.

Mistake 1: Rose-colored glasses

Most of us dream of improving our lifestyle and moving to a larger home. The problem is that there’s sometimes a discrepancy between our hearts and our bank accounts. You drive by a home that you fall in love with only to find that it’s already sold or that it’s more than what you are willing to pay. Most homeowners get caught in this hit or miss strategy of house hunting when there’s a much easier way of going about the process. For example, find out if your agent offers a Buyer Profile System or House-hunting Service, which takes the guesswork away and helps to put you in the home of your dreams. This type of program will cross-match your criteria with ALL avail-able homes on the market and sup-ply you with printed information on an on-going basis. A program like this helps homeowners take off their rose-colored glasses and move into the home of their dreams in an affordable way.

Mistake 2: Failing to make necessary improvements

If you want to get the best price for the home you’re selling, there will certainly be things you can do to enhance it in a prospective buyer’s eyes. These fix-ups don’t necessarily have to be expensive. But even if you do have to make a minor investment, it will often come back to you ten-fold in the price you are able to get when you sell. It’s very important that these improvements be made before you put your home on the market. If cash is tight, investigate an equity loan that you can repay on closing.

Mistake 3: Not selling first

You should plan to sell before you buy. This way you will not find yourself at a disadvantage at the negotiating table, feeling pressured to accept an offer that is below-market value because you have to meet a purchase deadline. If you’ve already sold your home, you can buy your next one with no strings attached. If you do get a tempting offer on your home but haven’t made significant headway on finding your next home, you might want to put in a contingency clause in the sale con-tract which gives you a reasonable time to find a home to buy. If the market is slow and you find your home is not selling as quickly as you anticipated, another option could be renting your home and putting it up on the market later – particularly if you are selling a smaller, starter home. You’ll have to investigate the tax rules if you choose this latter option. Better still, find a way to eliminate this situation altogether by getting your agent to guarantee the sale of your present home (see point number 5 below).

Mistake 4: Failing to get a pre-approved mortgage

Pre-approval is a very simple process that many homeowners fail to take advantage of. While it doesn’t cost or obligate you to anything, pre-approval gives you a significant advantage when you put an offer on the home you want to purchase because you know exactly how much house you can afford, and you already have the green light from your lending institution. With a pre-approved mortgage, your offer will be viewed far more favourably by a seller – some-times even if it’s a little lower than another offer that’s contingent on financing. Don’t fail to take this important step.

Mistake 5: Getting caught in the Real Estate Catch 22

Your biggest dilemma when buying and selling is deciding which to do first. Point number 3 above advises you to sell first. However there are ways to eliminate this dilemma altogether. Some agents offer a Guaranteed Sale Trade-Up Program that actually takes the problem away from you entirely by guaranteeing the sale of your present home before you take possession of your next one. If you find a home you wish to purchase and have not sold your current home yet, they will buy your home from you themselves so you can make your move free of stress and worry.

Mistake 6: Failing to coordinate closings

With two major transactions to coordinate together with all the people involved such as mortgage experts, appraisers, lawyers, loan officers, title company representatives, home inspectors or pest inspectors the chances of mix-ups and miscommunication go up dramatically. To avoid a logistical nightmare ensure you work closely with your agent.

South Bend Home Selling Tips from John Tiffany

28 South Bend Home Selling Tips from John Tiffany

27 Home-Selling Tips for South Bend Homeowners

“…discover how to protect and capitalize on your most important investment..”

Because your home may well be your largest asset, selling it is probably one of the most important decisions you will make in your life. To better understand the home selling process, a guide has been prepared from current industry insider reports. Through these 27 tips you will discover how to protect and capitalize on your most important investment, reduce stress, be in control of your situation, and make the most profit possible.

1. Understand Why You Are Selling Your South Bend Home

Your motivation to sell is the determining factor as to how you will approach the process. It affects everything from what you set your asking price at to how much time, money and effort you’re willing to invest in order to prepare your home for sale. For example, if your goal is for a quick sale, this would deter-mine one approach. If you want to maximize your profit, the sales process might take longer thus determining a different approach.

2. Keep the Reason(s) You are Selling to Yourself

The reason(s) you are selling your home will affect the way you negotiate its sale. By keeping this to yourself you don’t provide ammunition to your prospective buyers. For example, should they learn that you must move quickly, you could be placed at a disadvantage in the negotiation process. When asked, simply say that your housing needs have changed. Remember, the reason(s) you are selling is only for you to know .

3. Before Pricing – Do Homework on other South Bend Homes

When you set your price, you make buyers aware of the absolute maximum they have to pay for your home. As a seller, you will want to get a selling price as close to the list price as possible. If you start out by pricing too high you run the risk of not being taken seriously by buyers and their agents and pricing too low can result in selling for much less than you were hoping for.

Setting Your Home’s Sale Price

  • If You Live in a Subdivision – If your home is comprised of similar or identical floor plans, built in the same period, simply look at recent sales in your neighborhood subdivision to give you a good idea of what your home is worth.
  • If You Live in An Older Neighborhood – As neighborhoods change over time each home may be different in minor or substantial ways. Because of this you will probably find that there aren’t many homes truly comparable to your own. In this case you may want to consider seeking a REALTOR&reg to help you with the pricing process.
  • If You Decide to Sell On Your Own – A good way to establish a value is to look at homes that have sold in your neighborhood within the past 6 months, including those now on the market. This is how prospective buyers will assess the worth of your home. Also a trip to City Hall can provide you with home sale information in its public records, for most communities.

4. Do Some South Bend “Home Shopping” Yourself

The best way to learn about your competition and discover what turns buyers off is to check out other open houses. Note floor plans, condition, appearance, lot size, location and other features. Particularly note, not only the asking prices, but also why they are actually selling. Remember, if you’re serious about getting your home sold fast, don’t price it higher than your neighbor’s.

5. When Getting an Appraisal is a Benefit

Sometimes a good appraisal can be a benefit in marketing your home. Getting an appraisal is a good way to let prospective buyers know that your home can be financed. However, an appraisal does cost money, has a limited life, and there’s no guarantee you’ll like the figure you hear.

6. Tax Assessments – What They Really Mean in South Bend

Some people think that tax assessments are a way of evaluating a home. The difficulty here is that assessments are based on a number of criteria that may not be related to property values, so they may not necessarily reflect your home’s true value.

7. Deciding Upon a REALTOR&reg

Nearly two-thirds of people who sell their own homes say they wouldn’t do it again themselves. Primary reasons included setting a price, marketing handicaps, liability concerns, and time constraints. When deciding upon a REALTOR&reg, consider two or three. Be as wary of quotes that are too low as those that are too high.

All REALTORS&reg are not the same! A professional REALTOR&reg knows the market and has information on past sales, current listings, a marketing plan, and will provide their background and references. Evaluate each candidate carefully on the basis of his or her experience, qualifications, enthusiasm and personality. Be sure you choose someone that you trust and feel confident that they will do a good job on your behalf.

If you choose to sell on your own, you can still talk to a REALTOR&reg. Many are more than willing to help do-it-your-selfers with paperwork, contracts, etc. and should problems arise, you now have someone you can readily call upon.

8. Ensure You Have Room to Negotiate

Before settling on your asking price make sure you leave yourself enough room in which to bargain. For example, set your lowest and highest selling price. Then check your priorities to know if you’ll price high to maximize your profit or price closer to market value if you want sell quickly.

9. Appearances Do Matter – Make them Count!

Appearance is so critical that it would be unwise to ignore this when selling your home. The look and “feel” of your home will generate a greater emotional response than any other factor. Prospective buyers react to what they see, hear, feel, and smell even though you may have priced your home to sell.

10. Invite the Honest Opinions of Others

The biggest mistake you can make at this point is to rely solely on your own judgment. Don’t be shy about seeking the honest opinions of others. You need to be objective about your home’s good points as well as bad. Fortunately, your REALTOR&reg will be unabashed about discussing what should be done to make your home more marketable.

11. Get it Spic n’ Span Clean and Fix Everything, Even If It Seems Insignificant

Scrub, scour, tidy up, straighten, get rid of the clutter, declare war on dust, repair squeaks, the light switch that doesn’t work, and the tiny crack in the bathroom mirror because these can be deal-killers and you’ll never know what turns buyers off. Remember, you’re not just competing with other resale homes, but brand-new ones as well.

12. Allow Prospective Buyers to Visualize Themselves in Your South Bend Home

The last thing you want prospective buyers to feel when viewing your home is that they may be intruding into someone’s life. Avoid clutter such as too many knick-knacks, etc. Decorate in neutral colors, like white or beige and place a few carefully chosen items to add warmth and character. You can enhance the attractiveness of your home with a well-placed vase of flowers or potpourri in the bathroom. Home-decor magazines are great for tips.

13. Deal Killer Odors – Must Go!

You may not realize but odd smells like traces of food, pets and smoking odors can kill deals quickly. If prospective buyers know you have a dog, or that you smoke, they’ll start being aware of odors and seeing stains that may not even exist. Don’t leave any clues.

14. Be a Smart Seller – Disclose Everything

Smart sellers are proactive in disclosing all known defects to their buyers in writing. This can reduce liability and prevent law suits later on.

15. It’s Better With More Prospects

When you maximize your home’s marketability, you will most likely attract more than one prospective buyer. It is much better to have several buyers because they will compete with each other; a single buyer will end up competing with you.

16. Keep Emotions in Check During Negotiations

Let go of the emotion you’ve invested in your home. Be detached, using a business-like manner in your negotiations. You’ll definitely have an advantage over those who get caught up emotionally in the situation.

17. Learn Why Your Buyer is Motivated to move to South Bend

The better you know your buyers the better you can use the negotiation process to your advantage. This allows you to control the pace and duration of the process.

As a rule, buyers are looking to purchase the best affordable property for the least amount of money. Knowing what motivates them enables you to negotiate more effectively. For example, does your buyer need to move quickly? Armed with this information you are in a better position to bargain.

18. What the Buyer Can Really Pay

As soon as possible, try to learn the amount of mortgage the buyer is qualified to carry and how much his/her down payment is. If their offer is low, ask their REALTOR&reg about the buyer’s ability to pay what your home is worth.

19. When the Buyer Would Like to Close

Quite often, when buyers would “like” to close is when they need to close. Knowledge of their deadlines for completing negotiations again creates a negotiating advantage for you.

20. Never Sign a Deal on Your Next Home Until You Sell Your Current South Bend Home

Beware of closing on your new home while you’re still making mortgage payments on the old one or you might end up becoming a seller who is eager (even desperate) for the first deal that comes along.

21. Moving Out Before You Sell Can Put You at a Disadvantage

It has been proven that it’s more difficult to sell a home that is vacant because it becomes forlorn looking, forgotten, no longer an appealing sight. Buyers start getting the message that you have another home and are probably motivated to sell. This could cost you thousands of dollars.

22. Deadlines Create A Serious Disadvantage

Don’t try to sell by a certain date. This adds unnecessary pressure and is a serious disadvantage in negotiations.

23. A Low Offer – Don’t Take It Personally

Invariably the initial offer is below what both you and the buyer knows he’ll pay for your property. Don’t be upset; evaluate the offer objectively. Ensure it spells out the offering price, sufficient deposit, amount of down payment, mortgage amount, a closing date and any special requests. This can simply provide a starting point from which you can negotiate.

24. Turn That Low Offer Around

You can counter a low offer or even an offer that’s just under your asking price. This lets the buyer know that the first offer isn’t seen as being a serious one. Now you’ll be negotiating only with buyers with serious offers.

25. Maybe the Buyer’s Not Qualified

If you feel an offer is inadequate, now is the time to make sure the buyer is qualified to carry the size of mortgage the deal requires. Inquire how they arrived at their figure, and suggest they compare your price to the prices of homes for sale in your neighborhood.

26. Ensure the Contract is Complete

To avoid problems, ensure that all terms, costs and responsibilities are spelled out in the contract of sale. It should include such items as the date it was made, names of parties involved, address of property being sold, purchase price, where deposit monies will be held, date for loan approval, date and place of closing, type of deed, including any contingencies that remain to be settled and what personal property is included (or not) in the sale. Need help, John Tiffany is here.

27. Resist Deviating From the Contract

For example, if the buyer requests a move-in prior to closing, just say no, that you’ve been advised against it. Now is not the time to take any chances of the deal falling-through.

28. Always talk to John Tiffany first!

You are going to need professional advice for someone how knows the industry, the market trends, and has experience. Let’s talk.

Passing the St. Joseph County Home Inspection

Passing the Home Inspection – What Buyers Are Looking For

When you put your home up for sale you place it directly under the scrutiny of buyers. Superficial changes, such as new paint and resurfaced floors can do a lot to enhance your home’s appeal, but when it comes to an offer, most serious buyers will seek the assistance of a professional home inspector to ensure that the house is sound beneath the surface.

During most home inspections there are over forty problem areas that will be examined for correct function and condition. It is important that you are aware of what areas buyers will examine, and what you can do to ensure that these are in proper working order. In most cases you’ll be able to conduct a reasonable inspection yourself, if you know what to look for. This report will elaborate on some of the more important home inspection points, and will include information on:

  • Home Inspection areas and what to look for
  • How to make sure your home is as good beneath the surface as it is above

Home Inspection

Selling your home can be a difficult job, especially since you’re competing against hundreds of other properties. It’s important that you ensure that your home is in top condition, and doing a pre-inspection in anticipation of buyers doing the same is extremely important. Below are some areas that you should inspect:

Plumbing

Plumbing is of high priority when it comes to home inspections. Defective plumbing is classified in three ways namely leaking, clogging, and corrosion. A visual inspection will detect leaks and corrosion on pipes. Turning on all faucets in the highest bathroom and then flushing the toilet can gauge water pressure. The sound of water flowing through your pipes often indicates that the pipes are undersized. Additionally, if water coming from the pipes is dirty or contains debris, then the pipes are most likely rusting. The home inspector will evaluate all of these.

Damp or Wet Basement

The basement or crawl space is often the most revealing area in the building and usually provides a general picture of how the building works.

An inspector will check your walls for a powdery white mineral deposit a few inches off the floor, and will look to see if things you store right on your basement floor have suffered any moisture-related damage. Mildew odors are also a red flag for home inspectors. Difficult to eliminate, and indicative of other problems, an inspector will certainly be conscious of them.

Depending on severity and location it could cost you between $400 and $1,100 to seal a crack in your basement foundation. Another option is to add a sump pump and pit, which could cost around $750-$1,000. Finally complete waterproofing of an average 3-bedroom home could cost between $5,000 and $15,000. It’s important to factor these costs into the calculation of what you want to net on the sale of you home.

Damp Attic Spaces

Just as detrimental to a home seller as basement dampness are mold and mildew problems in the attic. Improper ventilation, insulation and vapour barriers can cause water and moisture to accumulate in the attic. This moisture and associated mold and mildew can lead to premature wear of the roof, structure and building materials. Oftentimes costs associated with fixing this damage can be in excess of $2,500.

Roofing Problems

The major problem associated with roofing problems is leakage, which can occur for a variety of reasons. Physical deterioration of asphalt shingles, mechanical damage from a windstorm or ice build-up as a result of poor drainage are all common causes of roofing issues. Leaky gutters and downspouts can also damage siding and exterior walls. Remember that it is only a matter of time before external damage becomes an internal problem.

Rotting Wood

Rotting wood, an issue particularly prevalent in older homes, can occur in many places such as door or window frames, trim, siding, decks and fences. Building inspectors will oftentimes probe the wood to check its integrity – and are particularly skeptical of woodwork that has been freshly painted.

Masonry Work

Brickwork commonly succumbs to water damage, minor ground and foundation settling and a host of other time-related changes. Redoing brickwork can be expensive, but when left unattended can sag, warp or even collapse. It’s particularly important to inspect your chimney for signs of moisture damage and structural integrity as problems in this area can lead to falling bricks and collapsing roof stacks.

Inadequate Wiring and Electrical Systems

Inadequate wiring can occur in many forms. Home inspectors will look at octopus plugs and extension cables as indications of inadequate circuits and potential fire hazards. Also your home should have a minimum of 100 amps service, and this should be clearly marked. All wiring should be copper or aluminum.

Unsafe or Over Fused Electrical Circuits

Unsafe electrical conditions are created when more amperage is drawn from a circuit than is intended. 15 Amp circuits are the most common in typical homes, although larger circuits are used for appliances such as stoves and dryers.

Older homes will also contain fuse panels rather than circuit breakers. Replacing a fuse panel with a circuit panel can often cost hundreds of dollars, but will be a factor that the home inspector will examine.

Poor Heating and Cooling Systems

A home inspector will scrutinize heating and cooling systems for efficiency and performance.

Insufficient insulation, and an inadequate or poorly functioning heating system, are the most common causes of poor heating. A home inspector will check the age of your furnace to see if it exceeds the typical life span of 15-25 years. Additionally, in a forced air gas system, the inspector will place the heat exchanger under particular scrutiny examining for cracks and damage as a potential source of carbon monoxide in your home. If the heat exchanger is damaged it must be replaced as it cannot be repaired.

Cooling systems are of equal importance. A home inspector will examine your air conditioning unit to evaluate size, installation, noisiness, dehumidification and cooling ability. A home inspector will pay particular attention to the exterior compressor/condenser units to make sure they are free of debris and have sufficient room in which to operate.

Adequate Security Features

A home inspector will examine your home for proper locks on windows and patio doors, dead bolts on the doors, smoke and even carbon monoxide detectors in every bedroom and on every level. Installing these components can add to your costs, but will demonstrate an adherence to basic security standards in your home. A purchased security system will also be examined.

Structural/Foundation Problems

An inspector will most definitely examine the underlying footing and foundation of your home. A cracked foundation or unstable footing can cost thousands in your home’s value.

Major Mistakes Made by Michiana Home Sellers

Major mistakes made by sellers

From incorrect financing to lack of preparation, there are countless mistakes that a seller can make when putting their house on the market. This report covers some of the most common mistakes made by sellers during the property selling process.

If you’re serious about selling your house, it’s important that you know the facts. It seems like a simple prospect – just put your house on the market, show it to a few buyers, and make the sale – but as many sellers find out, selling a home can be a difficult, expensive and long prospect. By knowing some valuable information about the real estate industry, as well as some tips and tricks about selling your property, you’ll be able to more effectively tackle today’s real estate market. This report will tell you how you can:

  • Avoid making mistakes when selling your home
  • Make you aware of the most common mistakes home sellers make

Selling your home can be a difficult job, especially since you’re competing against hundreds of other properties. It’s vital that you be aware of what works and doesn’t work when it comes to home selling. Consider the following list of the most common mistakes made by home sellers:

Mistake 1: Setting the wrong price for your home

Experience shows the right price sells a house faster than any other factor. When the listing price is more than 5% over market value, the price alone discourages buyers. That’s because an overpriced house scares away potential buyers who think they can’t even afford to look. Buyers who do look at an overpriced house know they can get more house for their money elsewhere.

Mistake 2: Selling your home in ‘As-Is’ condition

In today’s competitive market, most buyers will not even consider a house that needs fix ups. In contrast, a sparkling showcase home gets top dollar when it comes to the bottom line. What most buyers are looking for is an inviting home in move-in condition, one that looks as good as a model home. Buyers who are willing to tackle the repairs after moving in automatically subtract the cost of needed fix-ups from the price they offer. Either way, you save nothing by putting off fix-ups and likely slow the sale of your house.

Mistake 3: Selling your home with a dull interior

A clean, bright decor is what buyers want. Probably the best dollar-for-dollar investment for selling your home fast is fresh paint. Neutral colors are best. Next to fresh paint, new carpeting–replaced for either condition or color–makes a big difference. Elbow grease can be as effective as spending cash to brighten your home. Start by ruthlessly getting rid of the junk you’ve accumulated. Clean each room top to bottom. Dare to make your home look better than you’ve ever had it looking before. Focus on the three rooms most inspected – kitchen, master bedroom and garage (if you’ve got one). Forget those and you may as well forget the buyer, too. In the kitchen, clear off counters and organize cupboards. Keep in mind, some prospects will judge the whole house by the cleanliness of the oven or refrigerator. In the master bedroom, move or remove furniture to create spaciousness. The ideal garage stores only cars and perhaps an orderly display of garden tools, so throw out your junk to show off room for theirs.

Mistake 4: No ‘Curb Appeal’

Your house gets only one chance to make a good first impression. That’s why “curb appeal” is one of the most critical points in selling. Buyers are apt to fall in love at first sight – or not at all. If your home lacks curb appeal, chances are the first impression will not be counteracted by the most perfect floor plan or the most tasteful interior. Spruce up the view of the house from the street, including lawn, shrubs, shutters, windows, front door, mailbox. Add potted flowers out front, a wreath on the door, brass outdoor lighting fixtures – whatever will enhance your home’s “buy me” look.

Mistake 5: Over-improving your home

While it’s important to fix whatever needs fixing to get your home ready for sale, undertaking a major project could cost more money than you would recover from the sale. Spending too much on remodeling projects just drains money out of your pocket. If your improvements will push your home’s value more than 20% over the average neighboring home values, don’t expect to recoup the entire cost. (Some major projects, however, like replacing a roof, should be done if they are needed.)

Mistake 6: Financing Incentives

The more buyers you appeal to in terms of financing, the greater your chances of selling faster. Be flexible, consider paying closing costs or points, providing a decorator’s allowance or other irresistible buyer incentives.

Mistake 7: Stretching out buyer negotiations

One of the most important moves you can make is to reply immediately to an offer. When buyers make an offer they are, right then, in the mood to buy. Moods, as you know, change, and you don’t want to lose a sale because you stall in replying.

Mistake 8: Being Adversarial during negotiations

No one wins if you enter negotiations with boxing gloves on. Instead, approach negotiations in a positive frame of mind, not as an adversary of the buyer. After all, you both want the same thing–a sale. Leave most of the discussion of price, terms, possession and other conditions up to your agent. We’ll make it our business to get you the best deal.

Mistake 9: Not having a presentable house

The presence of your family can make prospective buyers feel like intruders. If you’re at home when your home is being shown, be your usual friendly–but low-key–self and keep children and pets out from underfoot. It’s the agent’s job to show buyers what they need to see. Buyers can better focus on your home’s advantages by viewing them than by socializing. If an open house is scheduled, plan to be away from home, but let us know how to reach you quickly. When you’re not at home at other times, agents accompanying prospects will leave their business card. Please alert us afterward so we can follow up.

Mistake 10: Selling without a professional

Going it alone like General Custer could invite disaster. Without a professional adviser, you probably won’t sell. Even if you do sell, surveys show self-sellers often net less from the sale than sellers who use a real estate agent. Selling a house is a team effort between you and the listing agent. You’ll find agents do a lot more than most people know–from bringing qualified buyers to keeping things on track to settlement.

Mistake 11: Not contact my team

Of course, I had to throw this in there.

How Much Should I Expect to Pay On Closing Costs?

How Much Should I Expect to Pay on Closing Costs?

Whether you’re looking to buy your first home, or trading up to a larger one, there are many costs – on top of the purchase price – that you must figure into your calculation of affordability. These extra fees, such as taxes and other additional costs, could surprise you with an unwanted financial nightmare on closing day if you’re not informed and prepared.

Some of these costs are one-time fixed payments, while others represent an ongoing monthly or yearly commitment. Not all of these costs will apply in every situation, however it’s better to know about them ahead of time so you can budget properly.

Remember that buying a home is a major milestone. Whether it’s your first, second or tenth home, there are many important details to address during the process. The last thing you need are non-budgeted financial obligations cropping up hours before you take possession of your new home.

Read through the following checklist to make sure you’re budgeting properly for your next move.

Appraisal Fee

Your lending institution may request an appraisal of the property, which would be your responsibility to pay for. Appraisals can vary in price from approximately $175 -$300.

Property Taxes

Depending on your down payment, your lending institution may decide to include your property taxes in your monthly mortgage payments. If your property taxes are not added to your monthly payments, your lending institution may require annual proof that your taxes have been paid.

Survey Fee

When the home you purchase is a resale (vs. a new home), your lending institution may ask for an updated property survey. The cost for this survey can vary between $700- $1,000.

Property Insurance

Home insurance covers the replacement value of your home (structure and contents). Your lending institution will request proof that you are insured as it protects their investment on the loan.

Service Charges

Any new utility that services your hook up, such as telephone or cable, may require an installation fee.

Legal Fees

Even the simplest of home purchases should have a lawyer involved to review all paperwork. Shop around, as rates vary greatly depending on the complexity of the issues and the experience of the lawyer.

Mortgage Loan Insurance Fee

Depending upon the equity in your home, some mortgages require mortgage loan insurance. This type of insurance will cost you between 0.5% -3.5% of the total amount of the mortgage. Usually payments are made monthly in addition to your mortgage and tax payment.

Mortgage Brokers Fee

A mortgage broker is entitled to charge you a fee in order to source a lender and organize the financing. However, it pays to shop around because many mortgage brokers will provide their services free to you by having the lending institution absorb the cost.

Moving Costs

The cost for a professional mover can cost you in the range of:

$50-$100/hour for a van and 3 movers, and

10-20% higher during peak demand seasons.

Maintenance Fees

Condos charge monthly fees for common area maintenance such as grounds keeping and carpet cleaning in hallways. Costs will vary depending on the building.

Water Quality and Quality Certification

If the home you purchased is serviced by a well, you should consider having your water checked by your local experts. Depending upon where you live, determines whether or not a fee is charged, to certify the quantity and quality of the water.

Local Improvements

If the town you live in has made local improvements (such as the addition of sewers or sidewalks), this could impact a property’s taxes by thousands of dollars.

Land Transfer Tax

This tax is applied whenever property changes hands and the amount that is applied can vary.