4 Mistakes to Avoid When Selling Your TN Home

Selling your TN home can be a draining process for both your emotional state and your time. Some moments may feel like an invasion of privacy because strangers must enter and look through your home, criticizing your personal space that is more than just walls and a roof to you. Plus, more often than not, they will offer you less money than you believe your home is worth.

It is a complex, emotional transaction, so it is really easy for first-time home sellers to make many mistakes. However, with some guidance, you may be able to prevent many slip-ups. You will need to prepare yourself mentally and financially for tricky scenarios.

Avoid these costly mistakes to achieve a more seamless, profitable sale when selling your TN home.

Using your Emotions as a Guide

Selling your home can be very emotional, with all the investments and memories made. Try to avoid letting your emotions get in the way of the process and think of it as merely a business transaction between a businessperson and salesperson. Use only a financial perspective to help distance yourself from the emotional aspects of selling.

Also, consider how you felt when shopping for that home. The buyers will most likely be in an emotional state as well. Keep in mind that you are not only selling a piece of property but also a lifestyle. This mindset may give you the motivation you need to put in the effort to stage the home and do some minor remodeling to get top dollar. These small tweaks can help boost the sales price while helping you create an emotional distance as it will look a little less familiar.

Setting an Unrealistic Price

Setting the right asking price is key. Buyers will use comparative market analysis, so it helps to stay ahead of the game as a seller. Even if you believe your home is worth more, you must set a realistic price based on comparable homes in the area.

A house will only sell for what it is truly worth. Overpricing a home is an all too common mistake, and it will most likely just take that much longer to sell as you will probably end up needing to lower the price.

On the flip side, if you price a house on the lower side, this will likely generate multiple offers and bid the price up to the home’s true market value. Starting at a lower price is actually a great strategy to generate extra interest in your listing, and you can always decline an offer that’s too low.

Keep in mind that there will almost always be some negotiating. The amount you end up with depends not just on pricing strategy but also on whether you’re in a buyer’s market or a seller’s market and how well the home is staged and up to date.

Skimping on Photography

Most buyers will be looking for homes online these days and checking out their photos. Be sure that the listing has good visuals of your home. Great photography will set your listing apart and help generate extra interest.

High-quality photos will be self-explanatory and taken during the day when there is plenty of natural light available, showcasing the home’s best assets. Using a wide-angle lens will help to give potential buyers a better idea of what entire rooms look like. If you have the means, use a professional real estate photographer to get top-quality results.

You can even add a video tour or 360-degree view to enhance your listing further and entice more potential buyers to come. You may even be able to get more offers with an introductory walk-through of your property.

Hiding Serious Issues

Keep in mind that any problems with the home will be uncovered during the buyer’s inspection. Your options are to either fix the problem prior to the inspection, price the property below market value accordingly to make up for it, or offer the buyer a credit to make the fix.

If you do not fix the issue, you run the risk of reducing the number of potential buyers seeking a move-in-ready home. It is best to have your home inspected before listing to avoid costly surprises once it goes under contract. Otherwise, this will just add a setback for selling your TN home.

Are you Protected?

Are you prepared if a viewer has an accident on your property and tries to sue you for damages? It is helpful to have a friend or an agent point out areas of your home that need work. If someone wants to view your house, it is your responsibility to accommodate them, even if it is an inconvenience to you. Be sure to tidy the house before every single visit to not only help you with the sale but to help avoid hazards.

About Barnes Insurance Agency

At Barnes Insurance Agency, we specialize in vacation home rental insurance to ensure the protection of your property and assets. We strive to offer customizable solutions to meet your specific needs. For more information, contact us today at (866) 733-5424.

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