5 Common Fears Home Sellers Face
If you’re planning on selling your home shortly, it’s important to understand the common fears that property sellers have. Knowing these fears beforehand can help you better understand the process and the obstacles that you may face — and also ease anxiety knowing that all sellers have certain fears. Continue reading to learn more!
Related: The Challenges of Selling Your Home in Today’s Market
5 Common Home Seller Fears: Debunked
1. The Home Will be UnderpricedJust like buyers fear overpaying for a home, sellers fear that their beloved home will sell for less than what they think it’s worth. This is especially common in instances where a home sells quickly, as sellers will wonder if they could have scored a higher price from another buyer. Sometimes homeowners get emotional about selling their home and ask for more money than buyers in the market are willing to pay. Your agent will know the approximate value of your home and will guide you through choosing the best selling price.
To avoid your home selling for less than the ideal amount, it’s important that you effectively communicate with your trusted real estate agent. They will help ensure that your home is priced correctly and can attract buyers by proactively marketing your home.
2. Buyers Won’t Like Your HomeMany homeowners are afraid their house won’t sell due to the possibility no buyers will be interested in their home — whether that be because of price, looks, or location. The fear of putting your home on the market and only getting a small turnout of potential buyers can be overwhelming, especially if you put a lot of blood, sweat, and tears into making your home presentable and attractive.
If you’re having this fear, the best course of action to take is to work with your real estate agent to check how well your home is showing and check the sales values of homes that have recently sold, or are currently for sale in your neighborhood for an honest comparison. Additionally, you should work closely with your real estate agent to ensure that your home is staged perfectly so buyers will have no choice but to fall in love with your home.
Related: 6 Ways to Prepare Your Home for Sale
3. Buyers Will Fail to Get Mortgage FinancingThe fear that buyers will have to back out of the deal on your home due to not being approved for mortgage financing can be stressful and cause you to be very selective with accepting offers.
Unfortunately, if a potential buyer can’t obtain the financing they thought they would qualify for, they will likely terminate the sale contract — leaving you back at square one.
To avoid this, you and your agent should request that all applicants on your home are pre-approved for financing. All sellers should insist that any offer that they accept comes backed with a statement from an established lender indicating that they have been pre-approved for a loan sufficient to be able to close on the home.
4. The Deal Will Fall Through After Home InspectionThe fear a deal will fall through after buyers have a home inspection done is common among sellers, but thankfully it’s usually not a dealbreaker. The report produced by the buyer's inspector could indicate your property has substantial issues — whether that be electrical, plumbing, or foundation shortcomings.
However, it’s important to understand that every home has issues, no matter how much work you’ve put into it to prepare it for sale. Buyers do not expect a perfect home, and will likely understand if it needs minor repairs or their personal touch.
Related: Why You Should Talk to a REALTOR® BEFORE Doing Renovations
5. Being Asked to Move Before You’re ReadyBeing asked to move out of your home before you’re ready is a very rational fear that sellers have. However, a great way to avoid this is to delay listing your home for sale until you’ve done a substantial amount of packing and sorting through your belongings. Having most, if not all, of your items packed and stowed away, will allow you to have an easy transition into your new home when it comes time for buyers to move in.
Additionally, you should ask your agent to indicate on your listing the earliest date that buyers can move in. That way, the expectation is set and you won’t have to worry about being rushed out of your home, as you and the buyer have already agreed on a moving date.
Related: 8 Tips for Living in a Home You’re Selling
Ease Your Fears by Working With an Experienced AgentSelling your home can be a scary venture. However, you can avoid experiencing these fears by working with one of our experienced real estate agents. Here at The Redbud Group, our agents will help walk you through the entire selling process, make sure your home is accurately listed, and market your home to produce valuable offers.
Contact us to learn more about how our Redbud Group REALTORS® can assist you with the home selling process — start to finish. Visit our website or click the button below to get started!