Sellers

Don’t be fooled by these 3 selling myths

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03/07/2014 | Author: Summer Mandell
First-time sellers beware: there are lots of myths out there about the right way to sell your home. While your Texas REALTOR® is your first line of defense against making these mistakes, here are three common selling myths busted:
Myth: I bought a house, so I know what it's like to go through a real estate transaction. I'll sell my home on my own and save money by not using a real estate agent.
Truth: Texas REALTORS® don't work for free, but that's because they provide valuable assistance through the home-selling process. Selling isn't the same as buying, and a Texas REALTOR® can help you reduce your risk of making a costly selling mistake. Plus, they help clients with the ins and outs of property transactions every day and are plugged into your local housing market. If you DIY, that means you'll have to spend time marketing your home adequately, be available to show the home yourself, and navigate your way through a tricky transaction alone.
Myth: If I price my home higher than market value, I'm leaving room for negotiations.
Truth: Buyers have no idea you're employing this strategy and won't understand why your price is too high. Many won't even view your home, much less put in an offer. When your home is priced improperly, it's more likely to sit on the market, making potential buyers think there's something wrong it. When that happens, you'll probably wind up with lower offers than if you had priced the home fairly at the start.
Myth: All I need to do is mow the lawn and hide my stuff in a closet and my home will be ready to show.
Truth: Is a mowed lawn and hidden clutter all it takes to attract you to a home? It won't work for potential buyers of your property, either. Your Texas REALTOR® might go through your home with you and identify areas that could use some sprucing up to make your home more appealing. Or, he or she might recommend working with a home stager to make the best impression. Be open to those suggestions … your Texas REALTOR® knows what makes a property sell quickly for top dollar



 

For the Buyers:

The Ten Commandments when Applying for a Mortgage

1. Thou shalt not change jobs, become self-employed or quit your job

2. Thou shalt not buy or lease a car, truck or van (or you may be living in it)

3. Thou shalt not use credit cards excessively or let current accounts fall behind

4. Thou shalt not spend money you have set aside for closing

5. Thou shalt not omit debts or liabilities from your loan application

6. Thou shalt not buy furniture or any larger purchase

7. Thou shalt not originate any inquiries into your credit

8. Thou shalt not make large and/or cash deposits without checking with your loan officer

9. Thou shalt not change bank accounts

10. Thou shalt not co-sign a loan for anyone