Top 5 Mistakes To Avoid When Selling Your Home

Today's home sellers can reach their goals with a little market savvy and some professional guidance from a qualified Realtor, who can help you avoid these common mistakes so you'll sell your house for the price you want.

Beware of:

Not working with a Realtor
A Realtor can help navigate the extensive legal documentation and financial jargon associated with the home-selling process, allowing you to avoid costly errors. Deciding not to work with a Realtor often results in a much lower sale price. Also, Realtors must be members in good standing of the National Association of Realtors, adhering to strict standards regarding ethics and customer service. They are experts on the local real estate market. Prudential Burroughs & Chapin Realty has nearly 300 Realtors in North Carolina and South Carolina ready to server you.

Over-pricing
Listing your home at the appropriate price is crucial to getting it sold, Realtors report. Be conservative or you will miss out on buyers who are looking in your home's true price range. By the time you correct the price, you may have already missed out on potential buyers.

Determining the correct listing price is tricky. Realtors have the most up-to-date knowledge of local real estate market trends and the price, financing, terms and conditions of similar properties. They can help you determine what is a reasonable price.

Forgetting the little things
Buyers' first impressions of a property will stick with them and inevitably help determine whether they come back or make an offer. Realtors report that remembering the simple details while preparing a house for sale can make all the difference, such as:

• Making sure the gutters and roof are clean and free of debris
• Maintaining sealants around windows and doors
• Cleaning windows
• Keeping pet areas clean and free from odor
• Removing unnecessary furniture, appliances and other clutter

Questioning the first offer
Many homeowners are tempted to reject the first offer, even if it is close to their full asking price. This offer may be the best you will receive because very competitive buyers will be eager to make an offer as soon as an attractive property comes on the market. Holding out for more money is rarely an effective strategy and may hurt you in the long run. Ask your Realtor for guidance about what you should -- and should not -- be willing to negotiate when receiving offers.

Picking the wrong buyer
Selecting the wrong buyer can lead to a multitude of problems throughout the selling process. For instance, a Realtor can make sure that your buyer is pre-qualified for a home loan to avoid any financial difficulties. Beware of buyers who add contingencies to the contract, especially a clause that states they will not close on your property until their prior home is sold. It is difficult to determine how long it will take for the buyer to sell his or her own property, which might leave you in limbo. Ask your Realtor what is -- and is not -- a reasonable request.

House Or Condo: Which Is Right For You?

With a multitude of new modern condominiums popping up in downtown Wilmington, homebuyers may feel torn about whether to consider the downtown lifestyle or opt for a traditional single-family home in the suburbs. Taking lifestyle, transportation needs and other key components of each option into careful consideration will help you to make the right decision.

Lifestyle
Your parents probably bought their first home in the suburbs. If this is the only lifestyle you are accustomed to, the hustle and bustle of the city may seem overwhelming to you. However, many find the amenity-rich lifestyle of downtown neighborhoods increasingly appealing. As more young couples make the switch to urban dwellings, these neighborhoods are being revitalized, with condo buildings within walking distance to bars, restaurants, shops and parks.

It is also important to consider how much spare time you have to commit to the maintenance of your property. A house may be better for you if you enjoy maintaining a home and garden. In a condo, you will share decision-making with other tenants and could pay a steep fee for building maintenance. A condo may be more realistic for you if you lack the time and enthusiasm for upkeep.

A major difference between single-family homes and condos is the amount of privacy you are afforded both at home and with your neighbors. Couples can find that they need at least a mid-sized condo to feel comfortable, but budget considerations often do not allow this space. Also, consider if you enjoy having neighbors close by for comfort or if you prefer more privacy. You may find it difficult having neighbors in adjacent condo units if your lifestyles are very different.

Transportation
Whether you live downtown or in the suburbs, the location of your home will inevitably affect your daily commute. If you live and work downtown, you may be able to walk or take a short trip on mass transit. You could save an hour or more each day in addition to the money you save on gas.

If you work in the suburbs and live downtown, you could also save time by traveling against the traffic. Regardless of whether you decide on the suburbs or the city, test drive your route to be sure excessive congestion will not be a problem.

Parking must also be considered when deciding between a condo and a single- family home. If you have three vehicles, a condo probably isn't your best choice. You may have to purchase or rent parking spaces downtown for a hefty fee. Also, find out whether family and friends will have easy access to on-street or off-street parking when visiting.

Be sure to ask your Realtor these questions when looking to purchase a suburban house or a condo. Their knowledge and expertise will help lead you to your perfect home.