If you’re asking yourself ‘why is my house not selling?’ there will be a checklist to work through to determine the reason. Firstly, what does struggling to sell house actually look like? Here’s how to recognise if you have a problem:
Overpriced: the current market is super-sensitive to pricing and buyers will only pay what they think your home is worth – or what they can afford. Purchasers now have a wealth of data at their fingertips, quickly spotting a home that’s overpriced. How to help sell my house? A realistic asking price revision may be necessary to drum up interest, even if it means swallowing your pride.
Refusing marketing: if you want to keep your sale under-the-radar, you will limit your chances of finding a buyer. Refusing to appear on Rightmove and Zoopla, saying no to a ‘for sale’ board and asking not to appear in an estate agent’s window will keep your sale private but won’t help you sell.
Political factors: the appetite for buying can vanish overnight if there is a wisp of uncertainty – especially if people think purchases might get more expensive. Vendors of costlier homes are currently struggling due to rumours that the Government will impose a sellers new tax on dwellings worth £500,000 or more. The latest data from Zoopla revealed the speculation has prompted a 4% drop in purchaser demand for homes listed for more than this figure.
Poor photography: the images an agent uses to market your home are pivotal. Low quality photos can be why you are struggling to sell house. Photographs are the first thing buyers see, whether that’s online or in a branch window. They will make a snap judgement on your home in seconds, disregarding your property if it looks unappealing.
Unwillingness to allow viewings: very few purchasers will ‘buy blind’ – almost everyone wants to see inside a home before they make an offer. Whether you’re really busy, inflexible or willingly obstinate, not accommodating viewings will dent your chances of selling your property.
Survey results: many transactions collapse because of bad survey results. Common reasons for buyers backing out include the discovery of rising damp, Japanese knotweed or subsidence. Undervaluing is another red flag – when the mortgage lender’s surveyor doesn’t think the home is worth what the buyer is asked to pay.
Search results: even if there’s nothing wrong with your property, one of the reasons why your home is not selling is the area around it. Off-putting search results can include a high flood risk, contaminated land, nearby major developments, such as a new motorway, and legal and title issues.
Short lease: there are around 5 million leasehold properties in England and Wales, with some almost impossible to sell. The most challenging are those with a short lease of 80 years or less. Buyers are wary of the cost and hassle of extending a lease or trying to purchase the freehold, so often dismiss leasehold properties altogether.
Cluttered, poorly maintained home: when vendors ask us why is my house not selling, they don’t understand the importance of presentation. A cluttered property that’s grubby or poorly maintained has consistently ranked as one of the top reasons why people are struggling to sell house.
Location: there are some aspects a seller can’t change about their home, no matter how hard they try, and location is one of them. Expect a tougher sale if there’s an electricity pylon, busy take-away, nightclub or sewage works right by your property.
Open Property Group will help in ALL of the above situations, so if you are experiencing any of these, please get in touch. Our no-fuss service as professional house buyers includes:
Our quick sale guidance will give you confidence that a sale is possible. Contact us and we’ll immediately become your buyer.
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