Avoid These Common Mistakes When Listing Your Home

by Isaac Benmergui, Esq on April 21, 2013

MoneyHomesellers eager to sell their property for the best possible price often overlooked a few key points that could get them from listing to closing in a heartbeat. As Miami’s real estate market becomes competitive again with prices on the rise and inventory down, make certain you aren’t committing one of these simple mistakes that could slow down the momentum to closing:

  1. Being too eager to take the first offer. There is a common saying among Realtors “the first offer is often the best,” but in these days where inventory is low, buyers will more than likely engage in a bidding war, which will drive up the final purchase price, that is, until inventory levels start to climb back up, and they are slowly recovering. If your property is exceptional, expect a bidding war, and to negotiate all offers.
  2. Refusal to make minor repairs. Buyers don’t want to make repairs any more than you do, but they will figure in the time and cost of the repair and offer you a lower price, as they should. If it’s a minor repair, fix it rather than being forced to give the buyer credit for the repair.
  3. Unrealistic pricing.  Your realtor will check the prices of comparable sales in your area to give you some guidelines as to setting your initial listing price. When sellers list their homes too high, their home sits on the market longer than it should, and a potential seller may wonder what’s wrong with the house that no one wants to buy it.

Getting Legal Help

The law offices of Isaac Benmergui can help you with your legal real estate needs; call 780-800-2510 or email Isaac@benmerguilaw.com for more information or to set up an appointment today.



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