HomeRun Homes Rent to Own Homes Blog

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HomeRun Homes is a centralized marketplace which helps people Find or Sell a Rent to Own Home, both Nationwide and Globally to the thriving Rent to Own Market. http://www.lease2buy.com

January 28, 2011

10 Things NOT To Do When Selling a Home

Good Morning,

   I'm glad we all made it through another week together, and Friday is here!

   Today, we're going to take a look at "NOTs", so basically, 10 things to "NOT" do when selling a home, as the title says.

Jacquie Cliff, a Real Estate Broker with Champions Real Estate Service, provides the following "Do NOTS":

#1 "Never hang around buyers while they are viewing your home."
#2 "Don't let your animals run free while buyers are going to be in the house"
#3 "Don't move someone into your vacant home without telling the listing agent"
#4 "Don't wait until the last week before the foreclosure auction to list your home for sale!
#5 "Don't list your home with the agent that says they can get more money for your home than anyone else"
James Whalen, a Sales Associate with Gloria Nilson Realtors, suggests to "NOT" do the following:

#6 Do NOT, "reach even "a little bit" higher than what your house is worth. Research, research, research to determine exactly what your home demands and then price accordingly...anything even slightly above market value will be branded overpriced and get stale in the market fast, forcing reductions below what you wanted in the first place"

Joanne Cleaver, a freelance writer, provides the next "NOT" for agents who are selling homes:

#7 Do NOT, "try to get the buy side and the sell side of the commission.", and from a particularly bad experience, she says, "They deny it" but, "They are so desperate for income"

Allen Murray of Logic Realty Group, provides our final 3 "NOTs":

#8 Do NOT Be emotional. As Murray says, "This is a business transaction. Do not get offended with suggested sale price by your agent and/or low ball offers from buyers. A good agent is looking out for your best interest in the end and buyers in this market are told to test the waters. If you get to emotional, you could miss out on selling your home in a timely fashion."

#9 Do NOT get greedy, says Murray, and that, "Depending on your area values have dropped as much as 50% over the last 5-6 years. If you are fortunate to have equity in your home and MUST sell, be fair and take what you can get"

#10 Do NOT have a closed mind. Murray says that, "This market can be challenging if you are closed to ALL the options available to you to help your selling situation. If you can not get a particular price for your home, consider a lease w/option to buy. Think about it, foreclosures are at an all-time high and families still need places to live." Murray provides an example: "If a family had an adjustable mortgage at 6% 1,200/month payment (never late) and then it adjusts to 8-10% and a $1,500/month payment, guess what? They are not dead-beats, they just cant afford a $1,500/month payment!!! Your payment maybe $1,000/month, so you have a potential of $200/month additional income."

Do you agree with these "NOTs"? Have we missed anything?

Has this NOT been confusing (sorry - I just couldn't avoid that one!)

Have a Great Weekend, and Happy Rent-to-Owning !
Rob Eisenstein
HomeRun Homes Blog http://blogging.lease2buy.com
HomeRun Homes Website http://www.lease2buy.com

TAGS: #foreclosureauction #optiontobuy #mortgage

1 comment:

  1. Do NOT sell by owner. There are too many things you do not know if you are not in the real estate industry. You could lose money or your home could sit on the market for years.

    Another - Do NOT forget to stage your home - Staging your home so the potential buyer can see what the home would like with thier belongings will help sell the home.

    Another - Do NOT have too much furniture in the home or a cluttered room or closet. Remove as much as you can so potential buyers can envision living in the home.

    Do NOT smoke in the home while you are trying to sell - go outside. Use candles or purchase proper cleaning agents to rid the home of the smoke smell.


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