Real Estate Wisdom - Common Myths About Selling Real Estate In Charlotte NC

Welcome to the second article in the Real Estate Wisdom series.  Today we're going to cover some of the common myths about selling a home.  There are many assumptions about real estate, much of it based on inaccurate facts. Relying on dated information is costly when it comes to real estate. Avoid falling for these common myths about selling real estate in Charlotte NC.

It Is Better to Offer a Concession Than Make Repairs Ahead of Time

Providing a buyer concession is not the optimal solution for addressing necessary repairs. Some damages influence buyer determination of value. This can lead people to reduce their offer amount. Needed repairs can result in reduced sale prices beyond the concession offered.

Pricing Does Not Matter In a Sellers Market

Every seller aims to get maximum value. You hear a lot of buzz about homes selling for higher than the asking price, so you start your property on the high side anticipating an even better final price. This tactic will be a huge error. Competing properties might have sold for higher than list price given their starting price was appealing. You must not conclude that you will get more than the list price no matter what amount you choose.

Home Repairs Are Always Profitable

This is one of the most popular myths. We are sorry to inform you that the money spent on property renovations is not often gained back when selling. Although upgrades do increase house values, the amount is based on the type and extent of upgrade. Kitchens and baths, for example, historically provide more than other rooms.

The Only Thing That Matters is Location

Every city has that fabulous location that everyone wants to live in. People spend top dollar and believe that it must be a profitable investment. However, the those areas are not automatically the best investment because values may be close to the maximum. Thus, there could be less room for appreciation. Many times, the up and coming locations are better investments.

Selling For-Sale-by-Owner Will Always Save You Money

Dodging a real estate fee does not automatically lead to a higher bottom line for your transaction. Real estate professionals understand the local market and understand how to best present your listing. Without that experience, you might price incorrectly, lose valuable time, or fail to reach all the buyers out there. All of this could generate a decreased selling price, possibly even lower than what you are saving on fees. There may also be other expensive errors that you can commit through the transaction when not assisted by an experienced real estate broker.  Check out our article on why it's not always a good idea to sell your home as a FSBO.

Staying Away from Common Myths About Selling Real Estate In Charlotte NC

A property is one of the largest financial investments that you can make. When purchasing or selling real estate, it is important to be up-to-date and make good decisions. Use accurate facts an not based on common myths about selling real estate in Charlotte NC. Ask knowledgeable real estate professionals to guide you through the steps. This will allow you sell your property faster, for more money, and with decreased liability.