The Power of Emotion and Money when you sell your home.

The Power of Emotion and Money when you sell your home. 

When selling your home it is vital that you separate your emotions from your money. Selling real estate is simply a business transaction.  People put a lot of emotion into their homes.  We raise our families in our homes.  We pour blood, sweat, tears and money into our houses.  I have seen people refuse to sell at a good, solid market price because their favorite dog is buried in the back yard.  Sometimes people tend to get emotional about the sale of their real estate because so much of their identity is wrapped up in what they “own”.  You are not your house.  Your house is not your children.  When separated from our relationships, a house is simply a neatly arranged pile of sticks, stones and metal.

In cases of divorce or other legal issues people will often impart emotion into the sale as well.  Often times in situations like those, one party wants the house to sell a lot faster than the other party.

I know I am being purposely crass here, but my point is that at some point you will be separated from your house.  By a job transfer, severe legal or financial problems or death, we all leave at some point.  When it’s time to go, it is time to go.    You cannot take it with you.

Fear and angst over money can kill a real estate deal when left uninhibited. What if you owe more on your home than market value will bear?  That also invokes emotions in people’s minds.  Frankly, what you owe on your home has absolutely no influence on your market value.  Over indulgence in credit or the deflation of house prices in your area certainly does not determine value in either direction.  Is it possible you can attract someone who will break you even at the closing?  That is a rare possibility, but not likely, especially when there are so many other homes out there to use as comparison to yours.

You may be in a position where you have to pay down the balance using cash from your own pocket, a loan from your retirement fund or a credit card.  How badly do you want to sell?  Is it a priority?  Is it an emergency?  What is the cost of keeping the house? When separated from the emotion, is it a money saver if you walk away from the house owing a small portion of the debt and pay that portion off over time?   I have seen people make dozens of payments on a house they no longer need or can afford simply because they did not do the math in respect to what it REALLY costs them to keep the property.  Add up all of the expenses connected to the house.  Calculate the payments, interest, taxes, insurance, utilities, and maintenance such as mowing or snow removal.  Add to that figure the LOSS of the use of your money elsewhere as well as the inconvenience and the negative emotion of having a burdensome property (if that applies).

I know it is difficult, but I have learned from experience on many occasions that as a  purely business standpoint, sometimes it makes sense to admit defeat, surrender, and sell a take a loss.


About Thresholds For Living Realty

Thresholds For Living Realty Specializes in ULTRA SUCCESSFUL Real Estate Technique. We not ONLY train the best Realtors accross the nation, we also sell homes in ALL of Michigan. Here are a few Tags for people to use that reflect our true purpose here: michigan homes for sale, michigan homes, michigan condos for sale, michigan condos for sale, realtors michigan, michigan mls. michigan condo for sale, mi homes for sale, mi mls, houses for sale michigan, mi condos for sale, homes for sale, foreclosed homes, realtors, realty, realtor, real estates, home for sale, home search, house for sale, for sale by owner, home search, house for sale, for sale by owner, short sale in michigan, short sale law, notice of foreclosure, pre foreclosure sale, foreclosure proceedings, foreclosure notice, home foreclosure process, foreclosure eviction, second mortgage foreclosure, foreclosure short sale, short sales in michigan, pre foreclosure short sale, mortgage short sale, short sale services, short sale service, how to short sale, short sale definition, get out of foreclosure, prevent foreclosure, preventing foreclosure, foreclosure options, foreclosure questions, short sale information, foreclosure statistics, foreclosure news, home short sales, short sale magic, how to buy a foreclosure, pre foreclosure list, forclosure property, mortgage law, how to prevent foreclosure, foreclosure consequences, buying foreclosed property, mortgage foreclosure help, how to avoid foreclosure, free foreclosures, mortgage forbearance, foreclosure bailout, short sale in foreclosure, short sale homes in michigan, stop foreclosure sale, foreclosure or short sale, foreclosure training, foreclose or short sale, short sale forclosure, short sale foreclosures, short sale experts, short sale leads,
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