4 Mistakes That Plague First-Time Home Sellers


Are you thinking about selling your home? If this is your first time going through the selling process, you may be wondering just how well things are going to go. Selling a home is usually a smooth process – there are thousands sold each day – but issues can arise if you’re not careful. 

Trying To Sell Without Experienced Representation 

The first and most significant mistake that some first-time sellers make is to try to go it alone. Selling a house is a major financial and legal transaction and one where experience is crucial in getting things right. Invest in an agent who has a track record for quick, efficient sales and you’re going to have an advantage.  

Choosing Emotion Over Reason 

Avoid letting your emotions control how you react or respond during the selling process. Many homeowners become emotionally attached to their homes, which is fine while you’re living there, but can be a problem when selling. It’s important to let logic and reason guide the sale. Don’t get caught up emotionally or you may make a critical mistake.  

Pricing Outside Of A Realistic Range 

Asking too much – or too little! – for their home is another common mistake. It’s critical to understand that the local real estate market has a lot of influence on the correct asking price for your home. Current listings and recent sales of similar homes in the area tend to set a price range in the minds of buyers, so these will need to be observed. Your real estate agent will be a big help in choosing the right sale price.  

Selling At The Wrong Time 

The local real estate market is in a constant state of change due to a variety of factors. The seasons, other local home listings, interest rates, new home construction, local municipal zoning changes and all sorts of other factors can influence your sale. Unless you are under a time constraint, it’s best to let your agent advise you when it’s a good time to list your home.  Selling your first home can be a daunting experience, but with the right frame of mind and professional representation, it will go smoothly. To learn more about the home selling process or buying a new home, contact us today. Our mortgage loan professional team is happy to assist.  

A Lending Hand for Financing Home Mortgages

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Disclaimer


V.I.P. Mortgage, Inc. DBA Spire Financial does Business in Accordance with Federal Fair Lending Laws. NMLS ID 145502. For state specific licensing, visit www.vipmtginc.com/national-licenses/. V.I.P. Mortgage, Inc. is not acting on behalf of or at the direction of the FHA/HUD or the Federal Government. This product or service has not been approved or endorsed by any governmental agency, and this offer is not being made by any agency of the government. V.I.P. Mortgage, Inc. is approved to participate in FHA programs but the products and services performed by V.I.P. Mortgage, Inc. are not coming directly from HUD or FHA. Information, rates, and programs are subject to change without notice. All products are subject to credit and property approval. Not all products are available in all states or for all loan amounts. Other restrictions may apply. This is not an offer to enter into an agreement. Not all customers will qualify.

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