News From Home
Seven seller mistakesfrom rude to dumb
Sellers may do a number of things that annoy buyers, says McKay Price, assistant professor of real estate finance at Lehigh University. Some can kill a sale. Some are just rude.
Here are seven bad moves for sellers.
1. Calculating the sales price by adding in the cost of renovations or sweat equity. Sadly, just because sellers worked hard on renovations doesn't mean they increased the value of their house.
2. Dictating finance. A seller may prohibit VA or FHA loans, thinking they will take longer. Price says conventional loans often can take longer.
3. Taking offense at a lower offer. It's never smart to ignore an offer or take it personally.
4. Trying to hide a flaw. Disclose everything, no matter how minor. Do it once buyers have fallen for the home but before they put down money.
5. Pretending a house is for sale. A rude waste of other people's time.
6. Refusing to make repairs. The inspection shows flaws, but the seller refuses to make repairs or reduce the price of the home.
7. Walking off with the chandeliers. If fixtures, curtains and other things go with the house, you can't take them with you.
