After a rough year riddled with the pandemic, the real estate sector is experiencing a boom again. Urban India has seen a boost in real estate sales due to the economy’s recovery and favourable home loan interest rates, which have been the lowest in a decade. So naturally, during a boom phase of the market, some property owners might spot an opportunity to list their houses for sale in Mumbai and cash in on the opportunity to gain a healthy return on investment. However, selling a home in India is not difficult if you know a few tricks and avoid the common mistakes that many of the property owners commit.
Mistakes to avoid when selling your house
Property owners often aim to get the maximum value but ignore some crucial aspects of selling that need to be considered. These tips for selling your house will help you prepare for the selling journey and tell you which buyers are looking for when house hunting. If selling your house fast is what you desire, you should avoid the following mistakes at any cost!
Mistake #1 – Neglect Major Repairs
Just because you are selling the house doesn’t mean that you should not take care of the significant repairs that need immediate attention! Fixing major repairs such as plumbing or waterproofing may need some capital, but ignoring these issues can steer many buyers away and this is one of the major common problems selling a house. Choosing not to fix problems that buyers can easily spot during their visit, can also put a dent in your reputation as a seller. If this news spreads in the real-estate circle, you may risk losing visits from potential buyers. Thus, fixing house repairs must be on top of the checklist for selling a house.
Mistake #2 -Showing Excessive clutter
One of the most vital things that you should do to the house before selling is shifting the excess clutter to a temporary storage space or the new house. When potential buyers visit houses, they do not want to be welcomed by a messy house! Not only does it leave a bad first impression, but it also makes the house look smaller than it is. This is one of the many common problems selling a house that the buyer has to deal with and thus needs attention!
Mistake #3 – Never Be Too Negative
As a seller your job is to showcase the good things about the property and hence while selling a home, one should avoid being too negative. Many people try to be too pessimistic while talking to potential buyers. If the buyers ask about something that they notice then you can mention it but one of the best tips for selling your house is sticking to only the good parts when showing the house to potential buyers.
Mistake #4 – Ignore Professional Help
As someone who has dealt with the real estate market for many years, I can safely recommend professional help to property owners who do not have vast experience in selling. Many houses for sale often go unsold or get sold for an under-par price because the seller did not know how to make the right deal. Realtors are great at showing the property to the buyers and also understand what the clients are looking for, thereby hitting the right notes when singing the tunes of the house. As a result, selling your home without a realtor may lead to huge losses for the seller.
Mistake #5 – Never Set Unrealistic Price for Your Home
Every property owner wants to get the best price for the property to gain a good return on investment. But, when selling your house fast, people often ignore the importance of setting the right price. Researching the real estate market and comparing some of the listed properties in your area is the first thing at the top of the checklist for selling a house. Once you understand the price trends, evaluate them against the initial investment and cost incurred for annual maintenance and set a price that is not too high or too low. Remember, if you have an individual house for sale, setting the asking price too low may ring alarm bells in the buyer’s mind about the property being shady!
Useful Checklist for selling a house
Every home seller must understand the different costs and legal steps to selling a house before listing the house for sale. As with any property-related work, there is a lot of involvement of the government agencies and taxes. This checklist will be useful for the sellers and must be kept in mind before finalizing things:
- Sale Deed
- Mother Deed
- Latest Property Tax Paid Receipt
- Khata Certificate
- Building approval plan
- Power of Attorney (POA)
- Occupancy Certificate
Being ready with the list of documents mentioned in the checklist will help you in selling your house fast.