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A typical seller spends around 10% to prepare the home for the market on staging, repairs, commissions, etc.
It could cost more if you make a mistake. The reasons for the errors vary. In some cases, it’s a lack of research or just an oversight. Selling your vacant house when empty is not as easy and economical as it might seem.
Below are some common mistakes people make when they try to sell their vacant house.
Not Fixing Damage on Time
A messy house gives buyers the impression that no one lives there or cares for it. You should repair the damages to your vacant house as soon as possible. It’s essential not only for buyers but also for your health and safety.
If something goes wrong and you don’t have a tenant yet, who will fix it? It may cost you more money if you wait until after you sell your home because then you’ll need to pay a contractor too.
Being Overly Optimistic About Selling Costs
Overestimating how quickly your house will sell may lead you to make decisions that will cost you in terms of time, money, and peace of mind.
Let’s say you decide to skip hiring a stager or a professional photographer because it won’t take long for someone else to snap it up. If nobody does, you might be stuck waiting longer than expected and paying an arm and a leg in storage fees, just so that you can come back next year and try again.
To avoid overestimating your ability to sell your vacant house quickly, set realistic expectations about market conditions.
Postponing Preparing Marketing Materials
The longer you wait to get your home’s marketing materials ready, like a photo tour of your home, details about special features (like fireplaces), and property information for prospective buyers, the longer it takes for your house to sell.
Postponing marketing also increases the likelihood that potential buyers will fall in love with another property before yours is officially on their radar. To maximize sales time and keep costs down, start thinking about how you’ll market your vacant house when you decide that selling is a good idea. However, if you are in Atlanta and find that your house is not selling as fast as you would like, you could contact someone like https://webuyhousesinatlanta.com/ and have a guaranteed cash offer on your house within 48 hours.
Hiring Unprofessional Help
You want your house to sell as quickly as possible, so it’s tempting to hire unprofessional help. You might even be inclined to save some money by doing some of that work yourself, like cleaning up outside or painting an accent wall. These might seem like small tasks, but you could make things worse and cost thousands of dollars in wasted time if you rush into these jobs without proper training or equipment.
While selling your vacant house when empty, its appearance is one of your most significant assets. Putting that at risk doesn’t make much sense when there are plenty of people who know what they’re doing.
Overpricing the Property
There’s only one surefire way to sell a property quickly and without incurring losses, and that’s by placing a realistic price tag on it. Overpricing your home will result in a more extended sale period, less-than-ideal offers, and generally low interest from buyers.
Final Thoughts
Selling your vacant house can be a daunting and stressful experience, but it doesn’t have to be. By avoiding these common mistakes, you’ll significantly increase your chances of finding a buyer quickly and for a reasonable price.
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