It is normal to want to sell your home fast and get good money from the sale, but some common mistakes can make this hard for you. These mistakes include asking for too much money, not fixing the house before selling, or not having the right papers ready. Sometimes, sellers do not use good ways to tell buyers about their home, or they try to sell without help from experts. These errors can cause delays, lower the price, or even stop the sale completely. Knowing these mistakes will help you sell your home faster and get a better price without stress. Taking simple steps can make a big difference in the selling process and protect you from losing money or time. We will inform you about some of the common mistakes and also provide you with helpful tips on how to avoid these mistake in this informative guide.
Setting the wrong price for your home
When you ask for too much money, buyers can quickly lose interest. Overpricing your home scares buyers away because they know what similar homes in the area are selling for. If your price is too high, your home may stay on the market for a long time without any serious offers. This can make buyers think there is something wrong with the house, even if there isn’t.
To avoid this, it is important to check the prices of homes like yours in your neighborhood. Look at what similar houses have sold for recently. You can do this by visiting property websites or asking people who have sold homes nearby. This will help you understand the right price range for your home.
Another smart step is to get help from a real estate agent. A good agent knows the local market well and can give you a fair price estimate. They also help you avoid pricing mistakes that could delay your sale or lower your profit. With their advice, you can set a price that attracts buyers and sells your home faster.
Finally, when buyers come to see your home, make it feel warm and inviting. A clean, well-kept house helps buyers imagine living happily there. This emotional connection can make them more willing to pay a fair price and complete the sale quickly. So, price your home right, get expert help, and make your home welcoming to sell successfully.
Poor marketing of your property
When you rely only on word of mouth or newspapers to sell your home, you will limit the number of buyers who can see your property. These traditional methods do not reach many people, especially the younger generation who mostly search for homes online. To sell your home faster and at a good price, you need to use online platforms like property websites and social media. These platforms allow you to reach many potential buyers quickly and easily.
When marketing your home, it is very important to make it feel warm and inviting. Buyers want to imagine themselves living happily in the house. This means you should take clear, attractive photos that show the best parts of your home. Good photos catch the eye and make buyers interested. Also, write a good description that tells a story about your home. Use simple but powerful words to describe the rooms, the garden, and any special features. A well-written description helps buyers see the value of your home and picture their life there.
Failure to fix your home before selling
Failure to put your home in order before inviting buyers can make buyers lose interest or offer less money. A home that looks broken or old makes buyers think it will be difficult or expensive to live there. For example, broken doors, leaking pipes, and peeling paint can make your home look uncared for. These problems show buyers that the house needs a lot of work, and they may not want to buy it or will ask for a lower price.
Simple repairs can change how your home looks and feels. Fixing broken doors, replacing leaking taps, and painting walls with fresh colors can make your house look new and clean. When your home looks fresh, buyers feel happy and comfortable. They can imagine themselves living there and enjoying the space. This feeling is very important because people want a home that feels warm and inviting.
Also, it is very important to check that all the plumbing and electricity are working well. Leaking pipes or faulty electrical systems can be dangerous and costly to fix. Buyers will worry about these problems and may avoid your home. Make sure taps do not drip, toilets flush properly, and there are no water leaks. Check that all lights and power points work safely. If you are not sure, you can ask a plumber or electrician to help you fix these issues before selling.
Taking time to repair your home before selling is a smart choice. It shows buyers that you care about the house and that it is ready to live in. This can help you sell faster and get a better price. Remember, a clean, well-kept home feels warm and inviting. When buyers visit, they should feel happy and imagine their family living there. This feeling can make them want to buy your home quickly.
Ignoring important legal documents
The main documents you need are the Certificate of Occupancy (C of O), the Deed of Assignment, and the Survey Plan. The Certificate of Occupancy is a legal paper from the government that shows you have the right to use and live on the land. The Deed of Assignment is the document that transfers ownership of the property from one person to another. The Survey Plan is a detailed map made by a surveyor that shows the exact size and boundaries of your land.
If you don’t have these documents, or if they are fake, buyers will not trust you. This can stop the sale completely because buyers want to be sure they are buying a property with clear and legal ownership. Missing or fake documents can lead to legal fights or the government taking back the land.
To avoid these problems, it is very important to get a lawyer to help you check and prepare all your documents. A good lawyer will make sure everything is correct and legal before you try to sell your home. This helps make the sale smooth and gives buyers confidence. Having all the right papers ready shows that you are serious and honest, making your home more attractive to buyers. This way, buyers can feel safe and imagine living happily in your home without worries about the land’s ownership.
Trying to sell without a real estate agent
Real estate agents can help in many important ways, such as setting the right price for your home, marketing it to many buyers, and negotiating the best deal. They know the local market well and understand how to make your home look warm and inviting so buyers can imagine living happily there. This is important because a welcoming home attracts more interest and better offers.
Selling on your own in Nigeria’s complex market carries risks. You might price your home too high or too low, miss out on serious buyers, or struggle with paperwork and negotiations. Many buyers prefer to work with agents because it feels more professional and trustworthy. Without an agent, your home might not get enough attention, and you could lose money or waste time.
You should only work with a trustworthy and experienced agent to ensure you get the best out of the deal. Look for someone with good local knowledge, strong communication skills, and a clear plan to market your home well. A good agent will help you prepare your home to feel warm and inviting, making it easier for buyers to picture themselves living there and helping you sell faster and for a better price.
Not checking if the buyer is serious
Failure to properly investigate the potential buyer before striking any deal with him can waste your time and cause frustration. To avoid this, it is important to ask buyers for proof of money before starting serious talks. This means you should request documents or evidence showing they have enough funds to buy your home. Doing this helps you avoid time-wasters and scammers, which are common in Nigeria’s property market.
A serious buyer will usually be ready to show proof of funds or a bank statement. They will also ask clear questions about the property and show real interest in buying quickly. On the other hand, buyers who avoid giving proof or make excuses might not be genuine.
To attract serious buyers, make your home feel warm and inviting. Clean and tidy every room, fix small problems, and arrange furniture nicely. When buyers visit, they should be able to imagine living happily there. A welcoming home helps buyers feel comfortable and more willing to buy.
Not considering extra costs when quoting price for the property
When selling a home in Nigeria, many people focus only on the price they want to get. But they often forget about the extra costs that come with selling a house. These extra costs include legal fees, agent commissions, taxes, and other charges. If you do not plan for these expenses, they can reduce the money you finally get from the sale. This means your profit will be less than you expected.
Legal fees are payments you make to lawyers who help with the paperwork and make sure the sale is done correctly. Agent commissions are fees paid to real estate agents who help you find buyers. Taxes may also apply depending on your location and the value of your property. Other charges can include costs for repairs, marketing, or clearing debts on the house.
Because these costs add up, it is important to plan your budget carefully. Before you sell, list all possible expenses or costs and include them in your budget. This way, you will know how much money you can expect after all costs are paid.
One way to help sell your home faster and get a better price is to make your home feel warm and inviting. When buyers visit, they should be able to imagine themselves living happily there. Clean the house well, fix any broken things, and arrange furniture nicely. A neat and welcoming home can attract buyers and may even increase the price they are willing to pay.
Letting emotions affect your decisions
Your home is not just a building; it holds many memories and special moments. Because of this, you might think your house is worth more than it really is. This can make selling your home harder and slower. It is important to keep your emotions in check so you can make smart decisions and sell your home successfully. The points below will guide you on how to put your emotion in check:
Avoid overvaluing your home because of sentimental feelings
Many homeowners in Nigeria find it hard to set the right price for their house. They remember all the good times they had there, and this makes them think the house should cost more. But buyers look at things differently. They want a fair price based on the house’s condition, location, and market value. If you ask for too much money, buyers may not even come to see your home. This can make your house stay on the market for a long time. To avoid this, try to think like a buyer. Look at similar homes in your area and see what price they are selling for. This will help you set a price that is fair and attractive.
Be open to reasonable offers
When buyers make offers, some sellers feel hurt if the offer is lower than expected. This is normal because you want to get the best price. But being too proud or stubborn can stop you from selling your home quickly. Sometimes, buyers make reasonable offers that are close to the market price. It is good to listen and think carefully before saying no. If you reject many offers, you might lose good buyers. Remember, selling a home is a business deal, not a personal fight. Being open to offers and willing to negotiate can help you sell your home faster and with less stress.
Get advice from professionals to stay objective
One of the best ways to avoid emotional mistakes is to get help from experts. Real estate agents, valuers, and property lawyers know the market well. They can give you good advice about pricing, how to prepare your home for sale, and how to handle offers. These professionals do not have emotional ties to your home, so they can be honest and objective. They will help you see your home as a product to sell, not just a place full of memories. This will make it easier to make smart decisions.
Make your home feel warm and inviting
Even though you should keep your emotions in check when selling, it is still important to make your home feel warm and inviting for buyers. When buyers visit, they want to imagine themselves living happily in the house. You can do this by cleaning well, fixing small problems, and arranging furniture nicely. Remove personal items like family photos so buyers can picture their own family there. A neat and welcoming home helps buyers feel comfortable and excited about buying. This can lead to better offers and a quicker sale.
Skipping proper background checks on buyers and agents
Many sellers want to finish the sale quickly, but failing to verify who they are dealing with can lead to big problems. It is very important to make sure the agents and buyers are real, honest, and serious.
First, always verify the identity and credibility of the real estate agents you work with. Many agents are not registered or licensed, and some may even be fake. These fake agents can scam sellers by taking money without selling the property or giving false information about buyers. To avoid this, check if the agent’s company is registered with the Corporate Affairs Commission (CAC), look for their website and reviews online, and confirm their office address. You can also ask for professional certifications or membership in recognized bodies like the Nigerian Institution of Estate Surveyors and Valuers (NIESV). Taking these steps helps you work with trustworthy agents who will handle your sale properly.
Second, check the buyer’s financial ability and seriousness before agreeing to sell. Some buyers may not have enough money or may just be wasting your time. Ask for proof of funds or bank statements to confirm they can pay for the home. Also, try to meet the buyers in person or through your agent to understand their intentions better. Serious buyers will show readiness to complete the purchase quickly and follow all legal steps. This reduces the risk of the sale falling through after a long wait.
Making your home feel warm and inviting is also important during this process. When buyers visit, they should be able to imagine themselves living happily there. A clean, well-kept home with good lighting and fresh paint creates a positive impression. This emotional connection can encourage serious buyers to make good offers and speed up the sale. A home that feels welcoming helps build trust and shows that you care about the property, which reflects well on you as a seller.
Failure to do due diligence on your property
Due diligence means checking carefully to make sure everything about your home is correct and legal before you sell it. This helps you avoid problems that can stop the sale or cause you to lose money.
First, you must confirm that your property is free from government acquisition or disputes. Sometimes, the government may plan to take over land for public use, or there may be disagreements about who owns the land. If your home is involved in such issues, buyers will be scared to buy it. You can check this by visiting the Land Registry or the relevant government office to see if your property is listed for acquisition or has any ongoing disputes.
Second, verify your ownership and the land status at the Land Registry. This means making sure you have the correct and legal documents that prove you own the property. Important papers include the Certificate of Occupancy (C of O), Governor’s Consent, Deed of Assignment, and a registered Survey Plan. These documents show that you have the right to sell the property and that the land is properly registered. Without these, buyers may not trust the sale, and you could face legal problems.
Third, avoid selling disputed or encumbered properties. An encumbered property is one that has debts, unpaid taxes, or legal claims against it. Selling such a property can cause trouble for both you and the buyer. Before selling, clear any outstanding payments like ground rent, land use charges, or utility bills. Also, check that no one else claims ownership or has a legal interest in the property.
Besides these legal checks, make your home feel warm and inviting. When buyers visit, they should be able to imagine living happily there. A clean, well-kept home with good lighting and simple decorations helps buyers connect emotionally with the space. This positive feeling can make them more confident to buy your home.
Making payments without proper receipts
Some property sellers make the mistake of accepting money without getting proper receipts. This can cause big problems later. To avoid trouble, always make sure you get a signed receipt whenever you receive money from a buyer. The receipt should have clear details like the amount paid, the date, the buyer’s name, and what the payment is for. This simple step helps you keep good records and shows that the buyer has paid you.
It is also safer to use bank transfers or cheques instead of cash. These methods create a clear record of the payment. When money goes through a bank, it is easier to prove that payment was made. This protects both you and the buyer. If you only take cash and do not give a receipt, the buyer might later say they never paid. This can lead to arguments and even legal problems.
Getting proper receipts and using traceable payment methods help protect you from fraud. Sadly, some buyers try to trick sellers by denying they paid. If you have no proof, it becomes your word against theirs. But with signed receipts and bank records, you have strong evidence to show the truth.
Aside from protecting yourself, these steps also make your home selling process smoother and more professional. Buyers will feel more confident dealing with you because they see you are organized and honest. This can make your home more attractive to buyers. When buyers trust you, they can imagine living happily in your home without worrying about problems.
Spending too much on repairs
If you think that spending a lot of money on repairs and upgrades will help you get a higher price on the property, you may end up being wrong. In fact, spending too much on repairs, especially on things that buyers do not really need or want, can make you lose money. This is called overcapitalizing. It means you spend more money on fixing or changing your home than the extra value it will add when you sell. To avoid this problem, it is important to make your home feel warm and inviting, so buyers can imagine living happily there without needing expensive changes.
Avoid spending too much on unnecessary upgrades
Not all repairs or upgrades will increase the value of your home. For example, putting in very expensive kitchen equipment or changing the whole bathroom might not bring back the money you spent when you sell. Buyers often want a clean, neat, and well-kept home, but they do not always want to pay extra for very fancy or unusual changes. Instead of spending a lot on big upgrades, focus on small repairs that make your home look cared for. Fix broken doors, paint walls with neutral colors, and clean the house well. These simple changes can make your home feel welcoming without costing too much.
Consult professionals on which improvements add value
Before spending money on repairs or renovations, it is smart to ask for advice from professionals. Real estate agents, home inspectors, or experienced builders can tell you which improvements will help increase your home’s value and which ones might not be worth it. For example, a real estate agent knows what buyers in your area want and can suggest repairs that will attract more buyers. A home inspector can point out important fixes that buyers will notice, like fixing leaks or electrical problems. Getting advice helps you avoid wasting money on changes that do not help you sell faster or at a better price.
Balance cost and benefit for repairs and renovations
When deciding on repairs or upgrades, always think about the balance between the cost and the benefit. You should spend money only when the increase in your home’s value or the chance to sell faster is greater than the cost of the repair. For example, if fixing a broken window costs 10,000 Naira but helps your home sell faster or for 50,000 Naira more, it is a good investment. But if painting the entire house costs 200,000 Naira and buyers will only pay 100,000 Naira more, it might not be worth it.
Bear in mind that the goal is to make your home feel warm and inviting. Buyers want to imagine themselves living happily in your house. If your home looks clean, well-maintained, and comfortable, buyers will be interested. You do not need to spend a lot of money to make this happen. Simple repairs and good cleaning can create a positive feeling that helps buyers say “yes” to your home.
Not understanding different land titles
The main land titles you should know are Certificate of Occupancy (C of O), Excision, Gazette, and Governor’s Consent. A Certificate of Occupancy (C of O) is the most important document. It is issued by the government and shows that you legally own the land for 99 years. This title gives buyers confidence because it proves your ownership is real and recognized by the authorities. Governor’s Consent is also very important. When you sell a property with a C of O, the new owner must get the Governor’s Consent to make the transfer official. Without this, the sale is not fully legal.
Excision and Gazette are other types of land titles. Excision means the government has officially released the land from its control, and Gazette is the public record that shows this. Land with excision and gazette titles is safe to buy because it is free from government acquisition.
It is very important to make sure your land title is genuine and recognized by the government. Avoid selling properties with fake or unclear titles because this can cause legal problems and scare away buyers. Buyers want to feel safe and sure that the home they are buying is theirs without any trouble.
Poor timing and patience in selling
Rushing to sell your property can cause you to sell at a low price or to buyers who are not serious. It is better to wait for the right time when the market is favorable. Understanding market trends in your area helps you know when buyers are more active and willing to pay a good price. For example, in cities like Lagos and Abuja, demand for housing can change with the seasons or economic conditions.
Being patient also means waiting for the right buyer who will value your home properly. Sometimes, sellers get tempted to accept the first offer, but this may not be the best. Waiting a little longer can bring better offers and a higher price.
To help buyers imagine living happily in your home, make sure it feels warm and inviting. Clean the house well, fix small repairs, and remove clutter. A neat and welcoming home helps buyers see themselves living there, making them more likely to pay a good price. This careful preparation combined with good timing and patience can help you sell your home successfully in Nigeria’s changing real estate market.
Conclusion
This guide would have opened your eyes to so many mistakes that sellers make in Nigeria when trying to sell their properties. Some of the mistakes mentioned above include rushing to sell at the wrong time, asking too much or too little money, not preparing the house well, not having the right documents ready, etc. To avoid making any of these mistakes, it is important to be patient, understand the market, and make the home look nice and welcoming. Also, working with experts like real estate agents can help you sell faster and at a better price. By learning from these common mistakes and following simple steps we have described in the guide above, you can make selling your home easier and more successful. You should also carefully plan the process and be patientto enable you get the best result from the deal.
