After finding a buyer, all you have to do to make it to closing is to avoid these five traps.Finding a buyer for your home is just the first step on the homeselling path. Tread carefully in the weeks ahead because if you make one of these common seller mistakes, your deal may not close.
Mistake #1: Ignore contingencies
If your contract requires you to do something before the sale, do it. If the buyers make the sale contingent on certain repairs, don’t do cheap patch-jobs and expect the buyers not to notice the fixes weren’t done properly.
Mistake #2: Don’t bother to fix things that break
The last thing any seller needs is for the buyers to notice on the pre-closing walk-through that the home isn’t in the same condition as when they made their offer. When things fall apart in a home about to be purchased, sellers must make the repairs. If the furnace fails, get a professional to fix it, and inform the buyers that the work was done. When you fail to maintain the home, the buyers may lose confidence in your integrity and the condition of the home and back out of the sale.
Mistake #3: Get lax about deadlines
Treat deadlines as sacrosanct. If you have three days to accept or reject the home inspection, make your decision within three days. If you’re selling, move out a few days early, so you can turn over the keys at closing.
Mistake #4: Refuse to negotiate any further
Once you’ve negotiated a price, it’s natural to calculate how much you’ll walk away with from the closing table. However, problems uncovered during inspections will have to be fixed. The appraisal may come in at a price below what the buyers offered to pay. Be prepared to negotiate with the buyers over these bottom-line-influencing issues.
Mistake #5: Hide liens from buyers
Did you neglect to mention that Uncle Sam has placed a tax lien on your home or you owe six months of homeowners association fees? The title search is going to turn up any liens filed on your house. To sell your house, you have to pay off the lien (or get the borrower to agree to pay it off). If you can do that with the sales proceeds, great. If not, the sale isn’t going to close.
Trust eXp Realty and our team of real estate agents to help you find homes for sale or to sell your current home. We recognize the level of service that the mobile consumer demands. You have information. You have dreams. We possess experience, integrity, and innovation. Together we create leverage to make your dreams a reality.
I get a lot of inquires about living in Hampton Roads ..... Coastal Vi
"Melody was an amazing realtor and we definitely recommend her for finding your dream home. We were first time home buyers and she was instrumental in all phases of the home-buying process, from start to finish. We had attended open houses for about six months before getting serious about buying. We met her several months earlier and she was on our short list of agents to interview, and we chose her because she was extremely personable and knowledgeable about our target search area. She provided suggestions for us based on our wants/needs. We were pretty picky about what we were looking for, and through the months, she showed us a couple dozen homes. When we found our dream home, she made the purchase process seamless, including helping us draft the contract, explaining the terms and documents, highlighting the tight timelines, providing contacts for our consideration to conduct inspections/other services, and walking with us every step of the way. Above all, and the reason Melody is an excellent realtor, is that she is super organized. This trait helped ensure our home-buying experience was a success. We will use her again some time in the future."