For whatever reason, there are many myths associated with selling one’s home. I recently learned of this after I was speaking with a couple who wanted to, and needed to, sell their home. The couple was completely freaked out about the process because of the myths that they had heard. After some digging, I discovered that this one couple was not alone. There are many home selling myths floating around, which is why I want to debunk them below:
#1. Minor repairs can wait. No, they can’t! Minor repairs are just that – minor. This said, buyers will use minor repairs as major leverage to pay less for a home. If you see a cracked mirror over a sink vanity, fix it. If you see paint chipping on a wall, paint it. If you see a small lighting track broken, replace it. Small repairs can’t wait and shouldn’t be ignored when you sell a home.
#2. Cash offers trump everything. Well, not with every situation. Because the reason behind why someone is selling a home varies, so does the reason why someone may be looking to a buy a home. There are different types of financing and deals these days. Considering an all-cash offer as the only offer is just silly. Expecting to only receive cash offers is also silly. Be open to paying the buyer’s closing costs or other incentives to make your home sell quicker. Also, be open to counteroffers and different types of deals.
#3. Make your buyer wait. I never understood this myth. Why? Is this suppose to help you get a better deal from someone else? Is this suppose to help you get more money out of the buyer? You can potentially lose your buyer doing this and there is really no good or valid reason for making a buyer wait when an offer is received. Treat others how you want to be treated and avoid the mind games when selling a home.