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Fact vs fiction: 4 home-selling myths busted

Fact vs fiction: 4 home-selling myths busted

Author: Pranil Maharaj
Date: 2016-12-16
A property sales transaction can be a complex process, especially for buyers and sellers who have never been through it before.

These days there is a world of information at our fingertips, and of course, the well-intentioned family and friends who are eager to give advice, but receiving from so many sources can lead to more confusion and uncertainty.

As a result, there is a number of home-selling myths have become commonplace in the property market.

1. Fiction - The property's selling price is determined by sellers

Fact -While it is the seller who will make the final decision as to what their property sells for,the selling price of the home will largely be determined by several key aspects such as its location, size, condition and the market.

2. Fiction - Overpricing leaves room to negotiate

Fact-Often overpricing will have the opposite effect to what the seller intended.

3. Fiction -It is not necessary to makerepairs and prepare the home for sale

Fact-Thereis no doubt that there is a market for buyers who are looking for a property they can renovate themselves, however, most buyers are looking for a home that is ready for them to move into.

4. Fiction - All renovations and homeimprovements pay for themselves

Fact-Although certain renovations and home improvements will increase the home's value, it is seldom that the seller will receive all the money back that they have invested in the project.

In conclusion

Knowing the facts will assist homeowners to get the most out of their property sale. If ever uncertain of any aspects relating to the sale, sellers can seek guidance from a reputable real estate professional who will be able to navigate them through the process.