06, June, 2023

Why does a house stay on the market longer than expected?

We Buy Any House

Like you, every property is unique, so we’ll just need a few details before we can make you an offer.

Why does a house stay on the market for longer than expected?
1. Asking price is too high
2. A stubborn seller
3. Viewing issues
4. Market conditions
5. Property conditions

When you’ve got your house on the market it can become increasingly frustrating when it remains unsold for a long time. Despite what your estate agent told you, that you were going to sell your house quickly and for that wonderful high asking price, it’s worth exploring why it might be that your home hasn’t sold and what you can do it about.

Get a cash offer for your house today!

1. Asking price is too high

Although it can be deflating to think you could be asking too much, price is typically a key factor as to why a property hasn’t sold. Have you noticed that other properties in the area have been selling whilst yours hasn’t? It’s worth investigating what price they sold at, and what condition their house was in. You’ll be surprised, how common it is for sellers to take a much lower offer than they originally expected to get their house sold.

2. A stubborn seller

Are you convinced that your house is worth asking price and you’re refusing to listen to the advice of pricing it at a lower cost? We know that it can be a hard blow to take, especially if you made improvements over the years. However, it all depends on the current market value and at certain times house values can drop considerably, which will affect buyers habits.

Do your own research and you might be shocked at what you discover about the current housing market in your area.

3. Viewing issues

Have you found that your estate agent has struggled to arrange viewings with potential buyers? Maybe people want to visit your property after work but that’s when you’re at home with the kids so you’ve been unable to accommodate.

If this sounds like your current situation then it might be a good idea to free up one night a week and go to a family member or friends for tea, leaving your home available for viewings. This could make all the difference in getting your property sold.

4. Market conditions

As briefly mentioned before, market conditions can have a detrimental impact on how long your property remains on the market. Take a look at similar properties in your area and see what they are currently on the market for or view what they have recently sold at. Take into consideration how old your kitchen and bathroom is for example. Is your property not as modern as other nearby properties? Is your garden smaller than others in your area? All these factors can really impact how fast your house sells.

5. Property condition

This is where you need to take a critical look at your own property. Is there damp that needs sorting? Are there any outstanding repairs that obviously need fixing? Do your walls need freshening up? Guttering cleaned? You might not think these are big things or even your responsibility to fix if you’re wanting to move house. However, potential buyers can easily be put off if they see obvious problems that they would have to fork out for if they bought the property. Fixing them yourself can save you money in the long run when your house sells quickly and you can move into your new house.

If you’re currently in the process of moving house it is vital that you review these 5 points and make sure that you do everything that you possibly can to help with the sale of your house. If your property has been on the market for longer than 6 months, or you’re looking for a quick sale than contact us at We Buy Any House for a free quote, and see how we can help sell your house fast.

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