Real estate can be sold after just a few showings. But it can also happen that no one wants to buy a house for sale for months. The reasons may be different - from the biased cost to the poor condition of the building or the plot. Let's look at the main factors why a house does not sell for a long time, and share recommendations on what to do to close the deal as soon as possible.
Reasons why a house doesn't sell
The most common reasons why potential home buyers don't become actual buyers are overpriced and the non-ideal condition of the property. But there are also less obvious reasons that can also hinder the sale of a private home.
Incorrectly set price
Quite often sellers, without consulting anyone and without studying the market, simply set the price at which they would like to sell the house. If it is really overpriced, most likely, in this situation, no one will not even come to viewings. In this case, you need to either reduce the price, or show all the advantages of the object, why it is expensive.
It is best to set the price when selling a house not by yourself, but by entrusting it to experts. An experienced realtor knows the market, is oriented in real estate rates and will be able to objectively evaluate a particular house, taking into account its features, pros and cons.
Seasonality
Sometimes everything is fine with a house - the price is set correctly, the condition is good, but it still doesn't sell. The reason for this may be the seasonality of the real estate market. While apartments are bought more or less evenly throughout the year, the demand for houses mainly increases during the warm season. The spring and summer period is the best time to put a house on the market.
Poor condition of the house and lot
Buyers make their decision to buy a house based on their first impression. If they don't get a positive feeling from viewing the property, it's probably not worth waiting for a deal. Therefore, you should pay attention not only to the finish of the facade and roof, but also to the condition of the porch and street lights, cleanliness of windows and doors.
It is not uncommon for sellers to pay a lot of attention to putting the house in order, while they forget about the lot. The house is beautiful and tidy, but in the yard there is construction debris, a dilapidated shed, dry branches and leaves, etc. Against such a background, even a beautiful and neat house will look worse.
Encumbrances
Buyers may be discouraged not only by the high price and unsightly appearance of the house, but also by the presence of minor encumbrances. Few people want to get involved with a potentially problematic real estate object. If the house can claim the relatives of the seller, there are problems with the registration of the land plot, registered minor children, it reduces the number of buyers at times.
Unfriendly neighbors
Sometimes a house doesn't sell because neighbors are obstructive. This usually happens when a part of the house is for sale and there are open disputes about the land, buildings on the plot, etc. In such a situation, it is better to immediately go to court and resolve the conflict, than at every viewing with buyers to risk running into angry neighbors who will definitely not let the deal take place.
If there are no conflicts with neighbors, but they themselves are not a gift, buyers may be repelled by junk in the neighbor's yard and noise from the neighboring property. In this case, it is worth taking care of a high-quality high fence. And it is better to make it before selling the house.
What to do if the house does not sell
If the house does not sell for a long time, you need to assess the situation comprehensively. This will help to establish the cause or several causes and already work with them.
So, what to evaluate when selling a house for a long time:
- check the value, compare it with similar properties in the same neighborhood;
- Pay attention to the season (perhaps you just need to wait for the warm season);
- objectively assess the condition of the house and plot;
- take into account any encumbrances;
- consider whether neighbors affect the sale of the house.
If the house is already on the market and potential buyers come to viewings but reply that they will think about it, it is worth trying to talk to these people and find out what is stopping them. More often than not, the buyers are the ones who point out the main reason why no one wants to buy the house. Perhaps they do not like that the yard is dirty or the price is too high for such an object or it is not suitable that the land plot is not properly formalized. When the exact reason is known, the situation can be immediately improved.
If the reason is the poor condition of the house and lot, then it is necessary to clean them up at least minimally. Not all sellers are able to pay for repairs before the sale of the object, but sometimes you can improve the appearance of the building and yard without much financial investment. To do this, it is necessary to clean the area, clear it of weeds, remove garbage, demolish the shed, and sow grass.
The house should be neat both outside and inside. Before selling, you should clean the windows, remove cobwebs, and remove old furniture. Also be sure to remove all personal belongings, if they are still there. This mistake is made by many sellers, believing that the presence of books, photos or blankets on the sofas does not play a role. But it is these things that do not allow the buyer to imagine that this house is his property, on the contrary, he feels as if he is a guest. Many transactions are made on emotions, and the seller should give the buyer the opportunity to feel them.
If there is no experience with the sale of residential real estate, it is best to immediately contact a realtor with a request to find a buyer for the house. Specialists know the market, will tell you at what price it is realistic to sell a house with a plot, evaluate the object and give recommendations on how to improve it to attract more buyers. Lawyers in real estate agency "Mayak" will help with the documents, if there are encumbrances, and draw up a contract of sale. With professionals you will be able to sell the house in the shortest possible time.
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