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Real estate selling mistakes: Don't make your price too high

Every San Antonio resident who is selling a home wants to get as much money for the property as possible. However, there comes a time when you may need to get realistic. Are you trying to sell your property for an amount that's higher than the market can currently support?

Whatever price you choose could directly affect your ability to sell your property. Underpricing could lead to you selling your home extremely fast and losing out on extra money you should have received. Overpricing, on the other hand, often results in your property staying on the market for longer than it should.

This leads to the other problem with a price that's too high. Homes that have been on the market too long cause buyers to feel less urgency. Prospective buyers may choose to keep looking and take longer to decide on buying your home if they think that it will always be there and that they aren't competing with any other interested buyers.

Many homeowners actually don't know what they should charge for their homes. Overpricing could be the result of an innocent error in this respect. However, this error has an easy solution. By working with an experienced home value appraiser, Texas homeowners can get an accurate estimate of their home's value and how much they should try to sell it for on the market.

Home sellers might also want to work with a real estate attorney, who can help them avoid other common home selling pitfalls. While most people simply use a real estate agent for their real estate transactions, an attorney can evaluate your legal rights in different situations to ensure that you're navigating your real estate transaction appropriately.

Source: US News, "4 Major Home Selling Mistakes to Avoid in 2017," Sally Forster Jones, accessed July 20, 2017

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