Home-sell­ing myths de­bunked

Lesotho Times - - Property -

THE pro­ce­dure of sell­ing a prop­erty can be a com­pli­cated process, even with all the ad­vice given from well-in­ten­tioned fam­ily and friends.

Re­ceiv­ing ad­vice and in­for­ma­tion from so many dif­fer­ent sources can lead to un­cer­tainty about cer­tain key aspects of the sale trans­ac­tion, says Adrian Goslett, Re­gional di­rec­tor and CEO of RE/MAX of South­ern Africa.

“There There is a great deal of in­for­ma­tion avail­able to con­sumers through a num­ber of re­sources. Some­times with all the con­flict­ing views, it may be dif­fi­cult to de­ter­mine which in­for­ma­tion to take note of and which to ig­nore,” says Goslett.

“As a re­sult, sev­eral mis­con­cep­tions re­gard­ing the home-sell­ing process have be­come com­mon­place in to­day’s prop­erty mar­ket.”

He pro­vides a few truths and facts to ex­pose the mis­con­cep­tions to help steer sellers in the right di­rec­tion:

Mis­con­cep­tion 1: YouY should wait for the right sea­son to sell your home

Truth: While th there is gen­er­ally more buyer foot traf­fic­tra dur­ing the warmer months, if th the home is si­t­u­ated in a sought-af sought-af­ter area, it will at­tract po­ten­tial buy­ers dur­ing all sea­sons of the year. It is m more im­por­tant to un­der­stan­dun­derst the phases of the p prop­erty mar­ket than to c con­sider the sea­son in whichwh the home goes on­too the mar­ket. Sell the home when you are ready.

Mis­con­cep­tionMisc 2: On­line es­ti­mate­ses­ti­mat for pric­ing a home are ac­cu­rate

Truth: Al­though it is pos­si­ble to get a rough es­ti­mate of a prop­erty’s value through an on­line por­tal, th­ese es­ti­mates take only a few fac­tors into con­sid­er­a­tion. of­ten other aspects can be over­looked, such as the po­ten­tial growth of an area or the de­mand for prop­erty there. The best way to en­sure an ac­cu­rate eval­u­a­tion of the prop­erty is to em­ploy the ser­vices of a real es­tate agent who has a work­ing knowl­edge of the area in which the home is si­t­u­ated. The real es­tate pro­fes­sional will be able to put the on­line es­ti­mate into per­spec­tive and de­ter­mine the most com­pet­i­tive list­ing price for the home.

Mis­con­cep­tion 3: List­ing the home at a higher price will leave room for ne­go­ti­at­ing

Truth: In re­al­ity, all that a higher ask­ing price will do is scare off prospec­tive buy­ers. An el­e­vated price could de­lay the sale of the home, leav­ing the prop­erty on the mar­ket for longer than it should be.

A prop­erty that has been on the mar­ket for some time and has seen mul­ti­ple price re­duc­tions will give buy­ers the wrong im­pres­sion. They are likely to think that the home is not sell­ing be­cause it has some ma­jor de­fects.

A cor­rectly priced home will be at­trac­tive to buy­ers and will sell for the best pos­si­ble price, within the best pos­si­ble time frame. Mis­con­cep­tion

4: The in­te­rior is more im­por­tant than the ex­te­rior

Truth: The first im­pres­sion of a home is based on the ex­te­rior, so curb ap­peal is crit­i­cal. If the buyer is al­ready turned off by the ex­te­rior look of a home, they are un­likely to even make it to the front door. A good im­pres­sion starts with a well­main­tained ex­te­rior.

Mis­con­cep­tion 5: You don’t need a real es­tate agent

Truth: There are cer­tain things that are best left to the pro­fes­sion­als. A home is the largest as­set that most peo­ple will ever own, so why take the risk of go­ing it alone when it comes to buy­ing or sell­ing a prop­erty? a prop­erty sales trans­ac­tion is a com­pli­cated process and there is a lot at risk, such as the money you risk los­ing by list­ing at the wrong price, in­ef­fec­tive ne­go­ti­a­tions, the pit­falls of in­com­plete or in­ac­cu­rate pa­per­work and le­gal is­sues in­volved in a home sale.

“Hav­ing the facts about sell­ing will help home­own­ers to get the most out of their prop­erty trans­ac­tion. If ever in doubt, sellers can seek the ad­vice of a rep­utable real es­tate agent who will be able to guide them in the right di­rec­tion,” says Goslett. — Prop­erty24

RE­CEIV­ING ad­vice and in­for­ma­tion from so many dif­fer­ent sources can lead to un­cer­tainty.

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