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While it can be a lucrative way tobuild wealth, the process is fraught with potential pitfalls.
Forgetting Seller Costs
Many sellers are caught off-guard by the various costs associated with selling a home.
These costs include:
Properly budgeting for these expenses is crucial to avoid a financial surprise.
Selling For Sale by Owner
Selling a home is a complex and legally intensive process.
Agents also provide technical guidance and help with contract negotiations, and they offerinvaluable market insights.
Hiring a professional can significantly increase your chances of selling your home quickly, and for a higher price.
Pricing Too High
Setting the right price for your home is critical.
It is called real estate for a reason; you want to be realistic, noted Cruze.
This will help you set a fair and accurate price that attracts buyers without undervaluing your property.
Failing To Disclose Defects
Transparency is key when selling your home.
Failing to disclose defects and major repairs can lead to legal complications and damage your reputation.
Honesty, on the other hand, can build trust with potential buyers and facilitate a smoother transaction.
Staging might involve decluttering, buying or renting furniture and makingminor cosmetic improvementslike a fresh coat of paint.
The goal is to create a neutral, inviting space where potential buyers can envision themselves living.
While staging requires an upfront investment, it can pay off by attracting more buyers and higher offers.
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