Why cant I sell my house
There may be a number of different reasons as to why you may be finding it hard to sell your home. These will range from your house itself, your estate agent, the area that you live and off course the general economy. This article will discuss these different factors and try to provide some helpful advice about what you can do to possibly turn things around.
Could it be your house
There are quite a few different reasons that your actual house may be a difficult property to sell. Here’s to name a few.
Is it in a council block or ex council? If it is then a lot of buyers may struggle to raise a mortgage as lenders are unwilling to lend on blocks of more than four storeys high. There are other restrictions as well, any buy to let lender will often require the block to already be at least 50% privately owned. If any of these factors apply to you then you will probably need some form of cash sale either through an online house buyer or through a property auction. It should be mentioned that a cash buyer at an auction will probably want a far larger discount then a internet house buyer.
Is your property a prefabricated or of non normal construction? Unfortunately many old houses were built not using the more usual standards of a traditional brick built home. Your house may for example have a wooden frame. If this is the case the lenders are so scared to lend against your home for reasons such as wood worm and general lasting ability, that any buyer would have to pay in cash.
Is my estate agent preventing me from selling my home
It may be as simple as changing your estate agent. They may be the ones to blame and you can judge this for yourself by looking at the lengths they have gone too when advertising your home. These adverts cost the estate agent money so in today’s climate it’s a likely place for them to cut costs. You may also feel that your house is overvalued and being advertised at too high a price. Once again, this is something that you can work out for yourself by putting yourself in the buyers shoes and taking a look at Right move to see what houses are available in your area and at what price.
The area that you live may be very slow
It’s obvious to say that property hotspots such as London have a much faster moving market than many other parts of the UK. If there are no buyers looking in your area or more likely far more supply of houses compared to the amount of buyers then you will have some stiff competition. One of the only ways around this is to reduce the price of your home to such a level that yours will most obviously be the next to sell. Before you consider this option we urge you to speak to us first and there is a good chance we can give you a far higher offer. Also, please be aware that our offers are calculated around the market value for your home and if you advertise your house at a lower price this will establish a new market value, even if your property is obviously worth more. These are the rules of the surveyor, not us.
Could it just be the general economy
If you are struggling to find the answer and none of the above applies to you then it is probably just the general economy that’s holding you back. Mortgage approvals are down 20% since last year so it is fair to say that times are even tougher. The banks are pulling back and the government are in fear of what may happen with the rest of Europe. Also, times may get worse as there is reason to believe that the government will pull interest only mortgage products. This is because people are coming to the end of their mortgage, unable to clear the remaining balance and unable to re-mortgage due to their age. It’s basically a crisis waiting to happen with sellers really being forced to sell their house fast. Bottom line,With less buyers able to attain a mortgage there is going to be less people walking through your door. This is where companies like You Sell Quick can really help. With an extensive list of property investors who are ready and waiting to buy your home we could be the valuable resource that you need.
“YouSellQuick gave me a very good deal and helped me through the whole process.”
“I got exactly what they offered in my bank account, nothing less, no extra fees or commissions.”
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