Things to Look Out for when Selling Your Home

Selling Home

When a buyer places an offer on your listing, instead of going nuts with joy, you need to be even more cautious. At times, especially the new or needy sellers give into the happiness of receiving offers early on and sell without prior investigation.

Be aware! Selling your house is a big deal and the money you get determines your future financial decisions.

Here are a few things that can go wrong when selling your house and how you can prevent them:

Unrealistic Expectations on Your behalf

Yes, property value appreciates over time but you can’t be unrealistic in your demands and expectations. Don’t go overboard with your expectations as it’s highly impossible to double your entire investments!

At the end of the day, your property will be sold at the current prevailing market rates. So, do not expect your house to fetch a value which is well above the market price. Moreover, having lofty expectations may cause a delay in the selling process and might deprive you of genuine buyers by the time you cut down the price.

Suspicious Buyers

You have signed the deal at the rate you set and everything has been finalized. But where is the earnest money deposit?

A genuine buyer will always show an earnest money deposit, which is the initial down payment made when purchasing a house. This proves their eligibility to pay the installments later on.

A buyer who doesn’t show an earnest deposit is not only suspicious, but is also difficult to deal with. You don’t want that, do you?

Poor Inspection

Boy oh boy! You do not want that! Right when you’re internally screeching at how smoothly the process of selling is going, bam! Your inspection results came out to be poor. Whether there was a small fault, such as a damaged fan, or a huge one, such as a hole in the wall, any such repairs must be made, especially before you actually show prospective buyers around your house. Otherwise, the inspection results will be poor and the ball will be out of your court.

Not being Insured

Are you kidding me? Its 2016! Who doesn’t get insurance?

You need to be insured before allowing potential buyers and agents to walk around your property. Any harm or physical damage done to the property or the buyers as a result of an accident means that they can sue you.

Some people even create accidents on purpose. Beware of such frauds! Keep yourself insured to prevent yourself from suffering from the aftereffects of any such events.

Unprepared Buyer

Coaching a clueless or unprepared buyer should again be struck off the charts. You’re selling your house, not teaching one how to buy one.

Look out for a pre-sanction letter from an authentic mortgage lender. This is proof that the buyer is capable of purchasing the house. Before you sign your contract, check your buyer’s bank statements to check whether they can make the initial payment and are not in a lot of debt.

So, unless you  want to starve and lose your home altogether now, keep an eye out and you are good to sell!