When it comes to selling your home, the adage about loose lips sinking ships tends to be true. Sure, there are certain things you should disclose to buyers, such as the presence of lead paint, defects, or whether the property is in a flood zone. Failing to do so may expose you to legal action. But there are plenty of other things that you need not share with buyers and their listing agents.
The Home Is in Perfect Shape
Sure, it’s probably safe to say that you love your home. Perhaps you even think it’s perfect. But telling the buyer or agent that it’s in “perfect condition” could make you look dishonest, especially if the obligatory home inspection reveals otherwise. Bottom line? There is no such thing as a home that’s in perfect condition, regardless of whether it’s brand new or a resale. Something will always have to be changed, fixed, replaced, or improved upon.
The Length of Time it’s Been on the Market
Never discuss with buyers how long the home has been on the market. Sure, this information will be on the fine print, but bringing it up when talking about your home can send the wrong message, even if you were simply trying to be honest. If the home has been on the market for years, buyers will likely think something is wrong with it; they’ll either avoid the property altogether or use this information to gain leverage and negotiate a lower offer.
Improvements/Repairs You’ve Always Wanted
Saying things like “We’ve always wanted to tear down this wall,” or “This room will look better with more windows,” may seem like casual talk with buyers, but it also reveals what’s wrong with the property, which, in their minds, means something they’ll have to spend on in the future.
You want to price your home based on its present condition, not factors that may or may not come up in the future. There’s simply no need to bring up that wall when your buyers may not even want to bring it down at all.
X Is My Final Price
When pricing your home, you want to think in ranges, not a specific dollar value. Sure, you want to get the most amount of money on the sale, but you also need to be realistic that it’s the market that dictates the price, not the seller. If you send the message that you’re not willing to negotiate, buyers may be discouraged from working out the terms of the sale or bringing up a price they’d be happy with. And when word about this spreads, other potential buyers may end up avoiding your property altogether.
Any Type of Lie
Last but not least, never lie about any detail of your home. Even the smallest white lie could end up hurting you, especially if it’s something buyers brought up themselves, such as:
- Issues with neighbors
- Flooding in the basement
- Presence of mold
- Water damage
Bottom line? Come clean with what you know and don’t be afraid to admit if you don’t.
If you have a home or property you just want to sell as-is right away, sell it Blue Hen Homebuyers. As a home investor, we buy all kinds of homes, regardless of their age or condition. Call our offices today at 910-802-2222 to learn more about how we can help you.