Once a buyer, now a seller…how exciting! Before you start the process of selling your home, you’ll want to read our helpful blog to learn the top mistakes you should be on the lookout for.
You’ve been through the adventure of buying a home, but you are becoming quickly aware of the differences in buying vs. selling. The process of selling your home may come with an array of challenges, such as unexpected legal hurdles and small mistakes.
Don’t get tripped up on avoidable errors or obstacles! Use 23 Legal’s helpful guide on the 5 mistakes to avoid when selling your home…
Mistake #1: Not hiring a lawyer
Would you take a flight without a pilot or drive a car without a steering wheel? Of course not. So why enter into complex legal arrangements without the protection of an attorney? This mistake is at the top of our list because it can have the most significant impact on you financially.
Time and time again, attorney Ben Weaver hears horror stories of people being scammed in a home sale, making bad legal choices, and mistakenly signing documents they didn’t understand. All of these mistakes happen because these people thought, “I can do this without the aid of an attorney.” While it isn’t impossible to accomplish selling your home on your own, 23 Legal strongly advises against it due to these unfortunate stories.
Be proactive and make the wise choice hiring an experienced attorney! Someone like Ben Weaver who truly cares for the best interests of his clients. Our legal firm serves clients who live in the same areas as Ben Weaver. He really cares about his impact on our clients and community. As a team we work hard to provide every client with the type of service he would want for his own family. Don’t make the mistake of skipping this vital step!
Mistake #2: Setting an unrealistic asking price – too high or too low
Research is critical when it comes to selling your home! Understanding how homes are valued and priced in your neighborhood will give you a starting point for correctly pricing your home before it’s on the market. First-time home sellers can sometimes struggle to choose how much their home should be sold for. There is a significant amount of emotion connected to your home. Too low may cost you financially, and too high may scare off prospective buyers.
To protect yourself from making a financial pricing mistake fueled by emotions, it’s best to have a non-bias party like your attorney review your home value with you, as well as partnering with a real estate agent who can guide you!
Mistake #3: Ignoring curb appeal and poor staging
The lack of appropriate preparation in terms of curbside appeal and staging can decrease the value of your home. Don’t skip this simple step! Start the process of getting your home ready for potential buyers by doing your own walk-through. As you walk around your home, make a list of all the areas that need obvious improvement.
Not sure how to prioritize your findings? Share your list with your real estate agent or a professional stager and they will help you decide which projects need your immediate attention to increase the value and sellability of your estate.
Property value can increase significantly even with just a little TLC, direction from a professional home stager, and some hard work! There are a variety of simple DIY projects that you or a local contractor can help with to accomplish the property upgrade your home needs! Many homeowners have no idea where to start on these projects. Have no fear, 23 Legal is here! Follow our expert guide to preparing your home for a successful sale…
Mistake #4: Procrastinating creating estate plans for a future home sale
More than often, people tend to avoid setting up estate plans with their elderly parents or loved ones because this can be an emotional and challenging conversation to have. But, avoiding understanding how or when your elderly loved one wants to sell their home can cause many issues for the whole family if left unresolved, especially in the case of unexpected death and no will.
Deciding to sell your parent’s home may be emotionally challenging. The process might start under various circumstances, such as dementia or physical limitations, or one parent passing and the other can’t maintain the home independently. No matter the cause, most people want to sell the house quickly and get a fair, profitable return on the property.
Attorney Ben Weaver understands just how delicate these matters are; his many years of experience as a local Real Estate Attorney specializing in estate planning have equipped him with the skills necessary to handle the process of selling your loved one’s home. It is essential to protect the elderly during these legal transactions due to the heavy legal documentation. Hiring a knowledgeable attorney reduces the risk of possible scams or misinformed decision-making. Learn more about creating a living will to plan for a future home sale!
Mistake #5: Reviewing bids and negotiating without a lawyer
Once your home is on the market, you can receive bids on your property. This is equally exciting and overwhelming. If your home receives multiple offers, choosing who you want to sell to can be somewhat confusing. Having your attorney walk through the bidding process can ensure you get the right amount of money for your beloved home.
Your real estate attorney will play a significant role in helping you navigate through this often complex process. These are the typical legal negotiations during this time. Your attorney will need to guide you through these sometimes challenging financial discussions while giving you specific pointers from their years of expertise! Read our negotiating guide for more information.
We all make mistakes, but some are 100% avoidable with the aid of a knowledgeable attorney. Alleviate the unnecessary challenges of costly mistakes or legal errors by starting your selling process on the right foot!
Whether you have already made a real estate decision and need help navigating through your choice, or need help deciding which direction to go in, attorney Ben Weaver is here to help you make smart decisions.
Set yourself up for a successful home selling endeavor with 23 Legal!
Please feel free to contact us for assistance or with any questions you have. Click here to read 5-star client reviews!
Why Choose 23 Legal
23 Legal offers Real Estate and Estate Planning legal services to individuals, families, community associations and small business owners throughout Chicagoland. We know how intimidating “the law” can be. In fact, when most people think of law offices, they think of stuffy leather chairs, huge wooden desks and pompous lawyers who charge outrageous fees. That’s not us! We believe in 1-to-1; the same lawyer should work with you all the way through. Whether you have an estate planning issue, family trust concern, or you have a legal problem in regard to a new home, business, real estate or remodel, you need a lawyer who cares. That’s where Ben comes in! We are great listeners; more than that, we are lawyers who believe that our clients always come first.