Three Common Seller Mistakes You Should Avoid

Here are three common selling mistakes we want to help you avoid. 

Are you thinking about selling your home in 2022? You’re about to embark on an exciting journey, but it’s easy to make mistakes. That’s why we want to go over three common selling mistakes you should avoid.

Mistake No. 1 — Not pre-inspecting your home. We inspect our cars nearly every year, but we don’t do the same with our houses. The truth is that while you’ve been living in your place, issues may have piled up that you don’t know about. Hiring an inspector to do a pre-inspection will allow you to take care of any problems upfront. This way, buyers can’t use issues with your home as a negotiating point, and your sale will probably go much smoother. As a bonus, a pre-inspection also protects you from potential litigation. 

Mistake No. 2 — Not planning for the tax implication of your home sale. When you finally close, you might be so distracted by the huge influx of money that you forget about capital gains taxes. For an individual, you’ll be paying capital gains on any home sale above $250,000, while married couples have to pay on anything above $500,000. We are not tax professionals, so get in touch with your accountant before you sell your home. If you don’t have anyone to talk to, give us a call, and we can put you in touch with a great expert. 

Issues may have piled up in your home that you don’t know about.

Mistake No. 3 — Thinking the first offer is the best. We’re living through a pretty great seller’s market right now, which is fantastic news for you. If you price your home correctly, you’re likely to receive multiple offers for your property, and they’ll all probably be pretty good. In this market, just because the first offer you receive is a great deal doesn’t mean a better one is right around the corner. Also, the best price doesn’t always equal the best offer. There are plenty of other factors that go into making a great offer. 

Our current market is pretty crazy, so if you have any questions about today’s topic or anything else, please call or email us. We’d love to help!