Four BIG Mistakes to Avoid When Selling Your El Paso Home with a Real Estate Agent.
Own a home in El Paso and thinking about selling with on the local market with the help of a real estate agent? While this option has the potential to make you top dollar for your home, there are four costly mistakes you should take care to avoid when using a real estate agent. Keep reading for some critical insight before you make any decisions about how to sell your El Paso home.
Mistake To Avoid #1: Don’t Make Any Assumptions About How Soon the House Will Sell
The reality of selling a home on the local market is that the value of homes in El Paso varies regularly depending on all kinds of local and national factors. You want to have a very realistic idea of how long this is going to take you from the outset so you can prepare and plan accordingly.
If you are selling your home in El Paso on the market, you need to assume that it will be several months (4-8) before you can complete a sale on the property. During this time, you will be busy repairing and fixing up the home, moving your belongings into storage, and showing your home to potential buyers. Have realistic expectations going in or you are going to grow frustrated long before you get any offers.
Mistake To Avoid #2: Don’t count on selling your home for the price you are asking
When you sell a home on the market, the asking price is the starting point for negotiations. This amount represents what the seller wants to sell for. During the negotiation process, there are typically concessions made to secure the deal. So always know that your eventual selling price will not be the same as your asking price and that it will inevitably go down through the negotiation process.
Mistake To Avoid #3: Don’t think all the money from your sale is going to go into your pocket
It might seem like you would get to keep all the proceeds from selling your house after the mortgage is paid off. However, this is not the case. There are several things you’ll have to pay for out of that sale price before you get any of your money. These include the commission for your agent, closing costs for the sale, and any additional fees that may be included. The money you will pocket off the sale of your home will be less all these amounts.
Mistake To Avoid #4: Don’t count on the first offer you receive going through
Often sellers receive an offer from a buyer only to have the buyer learn that their lender won’t approve the deal. Financing can be hard to secure for home buyers. If you are a seller, go into the process expecting at least one or two buyers to fall through before you find one that completes the transaction.
It’s best to be as informed as possible about all the mistakes and issues that affect selling your home so you can make the right decision. Be sure to set your expectations appropriately and remind yourself you are working for a big payday to keep yourself from getting frustrated at delays you cannot control.