Some advice on separating facts from myths may be helpful if you are thinking about selling your home. Below, I have identified 5 myths and offered some facts, so that you can have the best chance of selling your home this year:

Myth #1:  It’s a Sellers Market, Let’s Price it High

You will want to be priced just right when your home goes on the market in order to attract well qualified buyers. Overpricing your home even in a sellers market can result in unapproved appraisals and drive serious buyers away. In addition, consider the terms of the offer and cash options instead of just the highest offer. There are a lot of pitfalls involved with mortgage financing. A real estate professional can give you advice on this unique seller’s market opportunity.

 

 

Myth # 2: I am renovating Kitchen/Bathroom

The truth is that it may be difficult to recover all the money spent on a major kitchen or bathroom renovation right before it goes on the market. Instead, consider doing these minor updates:

• Replacing counter tops with quartz, marble instead of formica
• Paint or reface cabinets
• Only replace malfunctioning appliances with mid-range options

Myth # 3: Not Need to Stage My House, It’s Clean

The truth is that 82% of buyer’s agents said staging made it easier buyers to visualize themselves in the home. And 7 out of 10 real estate agents find virtual tours and pictures more important since the pandemic started. In addition, in the survey done by the National Association of Realtors, eighteen percent of sellers’ agents said home staging increased the dollar value of a residence between 6% and 10%. None of the agents for sellers reported that home staging had a negative impact on the property’s dollar value.

Myth # 4.- Buyers Can Paint The House Any Color They Like

One of the main things that really can make a great impact on the desirability of your home is a fresh coat of paint. New paint is a fast and relatively affordable way to make your home look newer, cleaner, and better maintained. Dirty or scuffed paint on the walls or trim may hurt your home’s resale value.

But it’s not just the condition of the paint on your walls that affects your home value. A fresh coat of paint in the right color may make your home more appealing to buyers. If you’ve repainted recently and your painted surfaces are in pristine condition, but your color choices are unusual, you should consider repainting before selling.

Myth # 5.- I am selling the home “as is” so buyer “beware”

Seller must disclose ALL material facts affecting the property. An “as is” clause merely means that a seller is not inclined to make any repairs. Although the buyer has a duty to investigate as by having all inspections deemed necessary, the seller has a duty to disclose all material facts. Failure will expose the seller to liability even after a home has been sold.