Common Mistakes Made by Property Sellers
Selling a property is not always an easy feat, particularly if you are holding out for the asking price. You could find that your property is listed for sale for a long time before there are even signs of interest from potential buyers. This can be made worse by some common mistakes that sellers often make, which can end up costing them money and causing further delays with the sale.
When you are selling your home, you need to make sure you try and avoid these costly and time consuming errors. Remember, selling your home can be a long winded process so you should make sure you do everything by the book, particularly when it comes to legal matters relating to the sale.
Some of the top mistakes that you need to avoid
There are various common mistakes that you need to avoid if you want to ensure you do not lose out financially or create delays when selling your home. Some of these include:
- Don’t have major upgrades carried out just before selling: Some sellers decide to have major upgrades carried out just before they sell the property. However, while this may increase the salability of the property it does not necessarily mean that you will recoup the cost of your investment. While you should ensure that essential repair work is carried out, don’t start focusing on expensive and unnecessary upgrades such as a new kitchen or bathroom. This will end up costing you a lot of money, which you may not get back when you sell.
- Answer correctly on the seller disclosure: When you are selling your property, you will need to complete a range of paperwork including a seller disclosure. This is where you provide details about the property and in many cases you are given the option to answer yes, no, or don’t know. Some sellers decide to simply tick the ‘no’ box if they are unsure about something. However, if the information is incorrect it can cause a lot of problems further down the line and could cause lengthy delays as well as proving costly.
- Not using a professional to sell the property: Although it is possible to sell your home without the help of a real estate agent, this could result in delays when it comes to securing a sale or even getting interest from potential buyers. You will miss out on advice that could make a big difference to the sale, so although you have to pay fees or commission you should definitely look at getting a real estate agent on board.
Getting professional legal help
Another thing you will need when selling your home is the services of a legal professional. Get in touch with us today to speak to the best real estate lawyer in NYC and to schedule an appointment to discuss your sale.
Contact Us at 646-759-0400 to schedule an appointment