Selling your Tennessee home may make it possible to get your hands on the equity that it has accrued over the years. It may also help you get out of a mortgage that you can’t afford or move to the location of your dreams. However, there are key mistakes that you’ll want to avoid when doing so.
Understand your home’s market value
Some homeowners have difficulty accepting that the market will determine how much their home is worth. The value of your home is largely based on how much similar homes in your area have sold for over the past six months or so.
From there, buyers will take the home’s condition, location and unique features into account when making an offer. Some homeowners are reluctant to accept any price less than what they feel their home should sell for despite being offered what is actually a reasonable price.
Time the sale properly
If possible, avoid selling your home during the winter months because there are fewer buyers on the market, which may give whoever is in the market more leverage to negotiate a better price or other favorable terms. These terms may include a truncated real estate closing process, which might make it harder to find a suitable place to live before your current home sells.
Selling a home can feel overwhelming even if you have done it before. However, remaining objective and hiring a team to help may make it easier to transfer ownership of your home in a timely manner and for the right price. It may also help to ensure that you don’t forget to make disclosures as required by state law.