Doing research a wise move before selling residential real estate

On Behalf of | May 23, 2019 | Residential Real Estate

According to new research, people who are interested in selling their homes across the United States, including in New York, have a tendency not to want to conduct relevant research first. Instead, they prefer to rush into the process of selling their residential real estate properties. Unfortunately, this can have unwanted consequences for homeowners.

Based on a recent study, 94% of homeowners feel self-assured when it comes to selling their homes. However, under 60% of home sellers who had sold their homes in the past spent under three hours researching the process. The statistic shows that many home sellers are confident about the process of selling their homes, despite the fact that they have not done their due diligence before embarking on the process.

Another finding of the research study is that many sellers overvalue their homes. About 44% of sellers check their homes’ values by using internet-based valuation sites each month. However, it may behoove sellers to consult with local experts, like real estate agents, for help with valuing their residential properties instead.

Selling a home in New York can understandably be a complicated ordeal, whether the transaction is a person’s first time or his or her fifth time going through the process. For this reason, consulting an attorney early on in the process is generally a good idea. An attorney can help a seller to negotiate the home sale and efficiently complete the residential real estate transaction, all the while ensuring that his or her best interests are safeguarded long term.