Luis Cano's Monterey County Real Estate Blog

MISTAKE NO. 5 …  Thinking  that there is only one perfect home out there.

HERE’S HOW TO AVOID IT… Buying a home is a process of elimination, not selection. New properties arrive on the market daily, so be open to all possibilities. Ask your real estate agent for a comparative market analysis. This compares similar homes that have recently sold or are still for sale.

Putting your home on the market isn’t as simple as placing a FOR SALE sign in your yard… Here’s the good news…there are several steps to take prior to listing your home that will make the transaction smoother and quicker.

STEP FIVE… Price it right. The original asking price of your home has a huge impact on the ultimate sales price. If you price it too high, buyers will look for better values and your home will remain on the market longer. The longer your home is on the market, the less desirable it becomes to buyers—even if you eventually lower your asking price—because most buyers will avoid a home that others are avoiding. Conversely, pricing your home too low may result in a quicker transaction but will yield you less money in the end.

Related articles

• The five biggest mistakes home sellers make (theglobeandmail.com)
• Don’t Get Carried Away Fixing a Home You’re Going to Sell (homeloans.org)
• Average Cost of a Real Estate Agent (brighthub.com)
• Tax Aspects of Home Ownership: Selling a Home (turbotax.intuit.com)

MISTAKE NO. 4   Limiting your search to open houses, ads or the internet.

HERE’S HOW TO AVOID IT… Many homes listed in magazines or on the Internet have already been sold. Your best course of action is to contact a real estate agent. They have up-to-date information that is unavailable to the general public, and they are the best resource to help you find the home you want.

Putting your home on the market isn’t as simple as placing a FOR SALE sign in your yard… Here’s the good news…there are several steps to take prior to listing your home that will make the transaction smoother and quicker.

STEP FOUR… Showcase your home. Curb appeal and first impressions are valuable assets when selling your home. Clear unnecessary items from your yard and maintain the landscape to welcome visitors. Keep the interior of your home clutter-free to maximize your home’s livable space.

Related articles

• 10 Ways to Cut Clutter in Your Home (women.webmd.com)
• Selling a House? Consider Staging! (homeownersinsurance.org)
• Everything You Need to Have Done before You Sell Your House (brighthub.com)

MISTAKE NO. 3  Not knowing the cost involved.

 HERE’S HOW TO AVOID IT  …  Early in the buying process, ask your real estate agent or mortgage representative for an estimate of closing costs. Title insurance and lawyer fees should be considered. Pre-pay responsibilities such as homeowner’s association fees and insurance must also be taken into account.                                                                                                                                                                                                                         

Remember to examine your settlement statement prior to closing.

There are several steps to take prior to listing your home that will make the transaction smoother and quicker.

STEP THREE… Make repairs ahead of time. A long list of necessary repairs is a major put-off for most buyers, who may decide to move on rather than deal with the headache of fixing up the home. Do as many repairs yourself as possible, then hire a contractor to complete the rest. If you decide not to make major repairs beforehand, hire a reputable professional to provide cost estimates that you can show to any interested buyers to put their minds at ease.

There are several steps to take prior to listing your home that will make the transaction smoother and quicker.

STEP TWO…  Get your home inspected. You are required to disclose any problems with your property to prospective buyers. Failure to do so will lead to further complications, even if you weren’t aware of the flaws ahead of time. Hire a professional inspector to identify and document any problems with your property. Also, make sure your home has a clean bill of health from termites.

MISTAKE NUMBER 2. Making an offer on a home without being pre-qualified.

HERE’S HOW TO AVOID IT. Pre-qualification will make your life easier-take the time to talk with yor bank or mortgage representatives. Their specific questions with regard to income, debt and other factors will help you determine the price range that you can afford. It is one of the most important steps on the path to home ownership.