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What are the consequences of not selling a house and how can I avoid financial and legal implications if I decide not to sell my property?

Overpricing a house is a common reason for it not selling, with 54% of agents reporting buyers backing out of contracts due to inflated home values.

Not fixing everything before selling may not be necessary or cost-effective, as not all issues are critical to potential buyers.

A house that's been on the market for months can be frustrating, but taking action to get the sale back on track is crucial.

Common mistakes when selling a home include overpricing, poor staging, and not disclosing necessary information.

Having a coordinator or agent can help navigate the process and avoid mistakes, as selling a home can be complex and requires understanding of the local real estate market.

Cosmetic flaws, such as painting and landscaping, can affect a buyer's perception and should be addressed if they detract from the home's appearance.

Pricing a home outside of a buyer's search parameters, such as a specific price range, can result in the home not being seen by potential buyers.

Closing costs for sellers can be as high as 8-10% of the sale price and should be factored into the profit made on the sale.

Major repairs, such as a new roof or HVAC system, may not be necessary to sell a house and could be a poor investment.

Cleaning, decluttering, and increasing curb appeal should be done before every sale, while expensive repairs and renovations should be avoided.

The average time it takes to sell a house is between 65 and 93 days from listing to close, and being prepared to move out quickly is necessary.

Fulfilling closing obligations, such as providing necessary documentation and completing repairs, is crucial when a real estate agreement expires.

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