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Avoid mistakes in house sales
Avoid mistakes in house sales

Video: Avoid mistakes in house sales

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Video: Home Buyer Mistakes to Avoid 2023, January

Selling a house can often be tedious and nerve-wracking: when is the right time? Do I need a brokerage contract and how much money can I ask for? Proper preparation can save you a lot of trouble. Read here which mistakes you should definitely avoid.

Mistakes in the sale of a house can happen again and again. However, if you inform yourself in good time and make the right preparations, you will also master this project successfully. The following five errors should be avoided:

Mistake 1: The wrong time

It is not uncommon for the determination of the right time to sell to be completely underestimated. The time of sale is just as important as the sale of the house itself. There is no general answer in this regard, but depending on the circumstances, some criteria should be taken into account before deciding. Watch the prices in your area several weeks before your planned house sale. The development of interest rates can also influence the timing. A low interest rate policy, for example, can drive up asset prices because low interest rates usually encourage the purchase of a home. Conversely, an increase in interest rates can also mean falling demand. Also keep in mind that after ten years the so-called speculation tax will no longer apply. So make it clear early on when you want to sell the property. And: in any case, allow enough time for the sales process - from the first visits to the notary appointment.

Mistake 2: Promptly fixing the price

If you want to sell your house, you should know the current market value of your house or apartment. It can happen that the original purchase price differs significantly from the current traffic price. Location, property type, size, space, year of construction, energy standards and market demand play a major role in determining the sale price. In addition there are the operating costs, the transport connection and the living environment. It can be helpful to create a pro and contra list to find a market-driven price for your property. It is also a good idea to hire an expert to determine the value.

Tip: Real estate agents often offer a free valuation.

Mistake 3: The wrong target group

When it comes to house sales, it always depends on the right target group. If you know your group of buyers, you can better assess which arguments it is open to and in which price category you can move. It is also easier to develop a successful marketing strategy (real estate platform, newspaper advertisement, social media) if you know who you are targeting. Basically, the more professional and targeted an object is marketed, the faster and more successful the sale of the house will be.

Error 4: Inaccurate object description

When selling a house, the following applies: serious information builds trust. In any case, your synopsis should contain a truthful description of the property as well as appealing pictures that show the different areas of the property. Now think about the best way to reach potential buyers. The most common variant is now an advertisement on a trustworthy real estate online portal, but a small brochure that can be printed out and passed on can also help with marketing.

Mistake 5: ignorance of rights and deadlines

Selling a house usually involves a lot of paperwork: However, you should definitely avoid errors in terms of rights and deadlines. All important points must be clarified in the purchase contract and precisely recorded. This includes, for example, the exact dates for paying the purchase price or the time for handing over the property to the new owner. Also make sure that you know the financial condition of the buyer well in advance. You have the right to inspect the proof of equity, the bank's financing confirmation, proof of income and Schufa information.

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