Situated in Alberta, Calgary had a population of about 1,581,000 in January 2021, making it the most populous city in Canada.
This has resulted in a highly active housing market in the city. While the city did issue 16,507 building permits in 2020, there is a thriving market for the resale of existing houses.
A house, on average, is listed for about 44 days before it sells. If you’re in the market to sell house fast Calgary, you need to ensure that you avoid the following mistakes.
Miscalculate the Cost of Selling
People often miscalculate the cost of selling a house. This includes commissions, repairs, closing costs, and any concessions given to the buyer.
Most people will assume it to be no more than 4%-5% of the sale price, while the actual costs can be closer to 10% of the selling price.
So, if you are selling a house for the first time, ask around to get an idea of what the selling costs might be. You can also get estimates from your realtor on the cost of selling a house.
Forgetting the Principle of Fair Market Value
No matter how much care you put into the house, setting an unrealistic price will do you no good. Your house will sit on the market for long without any offers.
You can estimate the fair price of the house based on the sale price of similar houses that have sold recently.
Your agent will help you get an estimate of what the selling price should be, based on their valuation model.
Disregard Structural Repairs Over Cosmetic Ones
Any major issues will turn up at the time of a home inspection. Therefore, it is best to focus your attention on structural issues before you move to aesthetic appeal.
A home inspector will look for broken or damaged things that can become a safety risk or hamper the home’s functionality.
Focusing on fixing these issues adds value to the house, as the buyer will not have to spend on such repairs.
When you want to sell a house fast in Calgary, you can expect to face unexpected issues, and it is best to prepare for any contingencies.
Not Prepping For the Showing
The business of selling a house is all about visual appeal. For you, this means that you need to keep the house organized, clean, well-decorated, and clutter-free to make it appealing to prospective buyers.
You need to set the stage for a sale. It was found that staged homes sell at a higher price and about 88% quicker than those not staged.
Not Open To Negotiation
This is another grave mistake. You have listed the sale price based on similar houses that have sold, made the necessary repairs, but the buyer still wants to negotiate. It is a simple demand-supply mechanism.
When there are many buyers and few houses, you may get a higher price for your home and vice versa. You cannot time the market. Therefore, it is recommended that you be open to negotiations.
Selling a house can be as difficult or as easy, depending on how you plan the sale. If you do everything by the book, you are bound to get offers and sell a house fast in Calgary. That said, make sure to avoid the above mistakes to put off prospective buyers.