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Today on MyMoneyLife with Chuck Bentley

Wednesday, October 28, 2009

Mistakes Home Sellers Make

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Got a testimony or question for Chuck? Send it to ChuckBentley@Crown.org.

Chuck Bentley Are you still trying to sell your house? There’ve been encouraging signs of recovery in the housing market lately, but it’s still a big time buyer’s market out there.

To bring in buyers, you’re going to have to avoid costly mistakes.

Now, the Home and Garden channel has come out with a helpful list of the biggest ”no-nos” home sellers make. Here are just the top 3:

Overpricing. Nothing limits the number of potential buyers like putting too big a price tag on your house. Your listing won’t even pop up on a buyer’s Multiple Listing search if it’s priced too high. They won’t even know your house exists. So make sure you price is comparable to similar homes in your area.

Too many improvements. If you sink too much money into fixing up your home, you won’t make it back at closing. It could force you to price your home too high, which sends you back to point #1.

Improper staging. You’ve got to make your home inviting to potential buyers. Visit nearby home houses and see what others are doing. It helps to clean up the clutter and put away personal items like family photos and that NASCAR poster collection taking up an entire wall in your family room.

Other “no-nos” include hanging around when the home’s being shown, or wasting time on unqualified buyers. Just go to Crown.org and click on “My MoneyLife” and we’ll have a link to the entire list.

For more help managing your money wisely in a tough economy, visit us at Crown.org.

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