Three Costly Mistakes to Avoid Before Selling Your Home

Posted on: 30 June 2016

Frequently, you will hear people complain that they did not get the best deals from selling their homes. The reason is because either they did not heed the expertise of home inspectors or they were in haste to dispose off their property in a buyer's market. This article highlights some of the common mistakes that homeowners make before selling their property. These mistakes may reduce the value of your home and make it unattractive for potential buyers.

Pest Inspection Prior to Offloading the Home on the Market:  Many home sellers would prefer to wait until they sell their property before procuring pest inspection services. But most sellers regret that they did not have their homes inspected for termites before putting them on the market. The problem with this delay is that you may discover that your home will cost you a lot of money in repairs and pest extermination. At this point, it may be too late to demand a higher price for your home. A pest inspection, prior to offloading your home on the market, would avert such expenses and give you the upper hand on the negotiating table.

Failing to check how much the Insurance and Homeowners Association will cover: Before doing repairs and termite treatment, owners should find out if the homeowners association or insurance will cover the cost. You may later discover that you spent a lot of money for a service that would otherwise have been provided free of charge. It is imperative to call your insurance and homeowners association to know if they will cater for the entire services or part of it. Even if they cover the costs, a lot of bureaucracy related to meetings and approvals may slow down the process. In other instances, they may not cover any cost; hence, you should be prepared for any eventuality.

Sub-standard Services: It is common for people to try to save money whenever possible, but outright cutting corners when doing inspection and repairs would be costly in the long-term. For instance, after conducting a pest inspection, the professional may advise you to fumigate your home to destroy termites. However, to circumvent the process, you might opt to get a simple spot treatment. However, the spot treatment is only a stop-gap measure, often considered sub-standard. Home buyers may reject such a property because nowadays they hire their own inspectors to offer a second opinion. If you conduct a cheap and shoddy job, you may end up paying more and losing a prospective home buyer in the process. A smart buyer can also take advantage and demand an enormous concession off the market value.