Education and news for smart DIY landlords!
Feeling sentimental about your home when thinking of selling it is perfectly normal. You’ll have mixed emotions such as excitement and anxiety. While that's expected, the problem is, these emotions can put you at a disadvantage during the selling process.
You might price your house expensively, get in an argument with a real estate agent or buyer, or even change your mind on putting your house up for listing. Speaking from experience, there are different ways on how to keep your emotions in check as a house seller.
Ignoring them and focusing on the opportunities that lie ahead is a good strategy. There are even more to learn and apply. Keep reading below.
You have made a lot of memories in your home. It’s normal that you would want to sell it expensively, especially if you’re reluctant to sell. However, buyers do not share your sentiments and would prefer to strike a bargain. To price your home properly and avoid getting lowballed, do a local housing market study or have it appraised by a professional.
A lot of house sellers employ the services of real estate agents but tend to disagree with the agent’s selling plans. If you have a strategy in mind, you can follow it so that you would have no internal turmoil during the selling process.
Yet, the problem with selling a home yourself is that you’ll have to do everything including the paperwork, showing, and listing tasks - which can be daunting. Always weigh the pros and cons first to choose the right selling strategy for you.
Selling a house could either be an investment or a necessity and it should stay that way. That means being able to let go of your sentiments about the home and treat it as a lump of materials to make a profit out of.
This is the hardest part of selling a home. A lot of buyers will scrutinize your taste and the experience could truly irritate you. But hey, remember that everyone has their own opinions and you should respect them even if they don’t respect yours.
Although, don’t be a pushover if ever you get berated or a house seller damages some parts of your home during the showing process.
A lighter form of scrutiny would be overhearing potential buyers making plans of demolishing a part of the house that you truly love. They may plan to turn your basement’s wine cellar (a place you’ve been working so hard to build) into a billiard hall.
As mentioned, everyone has their own opinions and needs. Their plan shouldn’t matter to you now. What matters is that both you and the buyer can settle on a fair selling price and they pay up as agreed.
Another experience that would annoy you is that negotiations could change due to contingencies even if you have already signed a purchase contract. You need to be patient but don’t forget to stick to your side of the deal.
In my experience, a buyer backing out is a good sign because I can find someone else more deserving to buy my property. Most of the time, I also get a better deal.
There are two disadvantages to a seller when you decorate your home with personal effects during the staging process. One is that it could cause you to make second thoughts about selling. Another is that it doesn’t help your potential buyers make a solid decision of buying the property.
Buyers need to imagine themselves living in the house. You should decorate the home with a neutral theme to increase your chances of selling the house successfully and quickly.
In summary, the process of selling a home that you have made a lot of memories in subjects you to a multitude of emotions. Mostly, they aren’t pleasant. You should practice mindfulness and understand that these emotions will eventually pass once your home has been paid for. But the best advice I can give? Only sell when you’re truly ready.
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