The most common mistakes when selling a house

The most common mistakes made when selling a house

Selling your house is certainly one of the most important, if not the most important economic act in your life. Therefore, it is important not to make any mistakes in this process, which can ultimately result in a loss of a considerable amount of money.

The developments on the property market in recent years have put off many players, especially potential buyers have become more hesitant. Owners also all too often speculate on a further price increase and hold back offers in the hope of a price rise.

Because all too often we believe that our house is the most beautiful, that the valuation we have made is correct and that it is literally ripped out of our hands as soon as we put it up for sale. But when we are ready to take the step of selling, the offers do not sprout up, maybe nobody even asks about our house, and our illusion and confidence begin to crumble.

What has happened? Why has your house not received the attention you hoped for?

We will show you what in our experience are the most common mistakes made by owners who put their property up for sale.

• No advice from an experienced real estate agent: Of course, this may sound stubborn from our side, but it’s just the way it is – if you go to the market completely without any previous knowledge, you all too often have negative experiences. And these can be very expensive. It is therefore advisable to consult an expert who knows the market, its mechanisms, sellers and buyers, and has a wealth of experience throughout the entire process

• Excessively high selling price: Normally, private sellers tend to offer their houses at prices well above the prevailing market prices. This is partly due to the hope that growth in the market will soon legitimise the price, but also to the high sentimental value that their own house subjectively represents. Thus, among other things, the valuation takes into account factors that are all too often given little or no consideration: Location, usable area – not the overall size, the general condition, features and characteristics, but also parking spaces and orientation towards the sun play an important role. 

• Condition of the property: It makes no sense to offer a property for sale if it is not also prepared for sale. Order is just as important as possible restoration work, which must be completed before photos are taken. When viewing the property, it is also important to make sure that it is in perfect condition, because the buyer always imagines what it is like to live there.

• Underestimating the bureaucracy: Selling a property is not only associated with a lot of bureaucracy, but also with numerous legal issues. Handovers are often made more difficult because owners without a title deed appear for the signing of the contract. Having all the necessary documents at hand is therefore obligatory, even if this seems like a matter of course. The following forms should be kept ready:
  • Ownership certificates
  • The original purchase contract with your name 
  • Certificate of the community of owners: it communicates whether the parties are aware of payments and damages/defects and everything to do with electricity, water and gas supply
  • Energy efficiency certificate
  • If you bought the house with a mortgage loan, you must present the letter of credit to release the loan.
  • Last receipt of the international tax assessment: it confirms that you have paid your tax or what is still outstanding

• Deceiving the buyer: It is essential that all documents are clean, complete and in the correct form. Photos and videos must also give a professional, but not a false impression – the potential buyer should not be deceived by false impressions and must be able to feel comfortable during the viewing.

• No time for visits: You must remember that potential buyers have a professional and private life just like you and are therefore not always available. So if you offer them only a few appointments, they may find their luck elsewhere before you have even made them an offer

Now you know what mistakes you have to avoid if you want to sell your house. But the best thing you can do is to seek the advice of a real estate expert. That way you avoid any stress and are on the safe side!