This is THE WORST Thing That Can Happen When Selling Your Property

You need to read this before selling your property. Here are some of the worst things that can happen in a house sale before and during the sales process. 

From picking the right estate agent to setting a price that you are happy with, and that is also suitable for the market conditions, selling your property can be a complex and emotional process. This means that it’s crucial to be well-prepared for the journey ahead.

There are certain worst-case scenarios that can potentially derail your home sale. DON’T PANIC! We’re going to guide you through the process. We’ll shed light on the most critical things that could go wrong during the selling process, where a lack of awareness can lead to frustration, financial setbacks, and even legal issues. It’s essential for homeowners to be aware of potential problems well in advance, so you can avoid issues and have a smooth sale (smooth as possible we hope).

Overpricing Your Home

Setting an unrealistic asking price can scare away potential buyers and lead to prolonged market exposure. Listen to your estate agents as they will give you the best possible price for your property, with the given market research and experience they have.

Homeowners build an attachment over the years to their home, so when their property is valued below their expectations, emotions come in the way and it stops them from getting the best possible offer and finding the ideal buyer.

Picking the right estate agents

Choosing the right estate agency BEFORE you sell your property is crucial as they will be dealing with your property before and during the sale. Picking the estate agent with the cheapest fee is usually NOT THE BEST idea – it’s always important to choose based on what they offer, quality of service and communication.

Having an estate agent that isn’t transparent or lacks poor communication can leave you in the dark and frustrated at your situation. Avoid this by choosing the right estate agent for you!

Putting off finding solicitors/conveyancers

Delaying or neglecting to hire a solicitor or conveyancer in good time can lead to a lack of legal expertise throughout the selling process. They’ll handle your deed transfer, your contracts, and also liaise with your mortgage lender to finalise any settlement to ensure a smooth sale.

Not Using Professional Photography

Okay why is this important? Just as you have first impressions with anything in life, if the pictures of your property don’t look good and are taken on a phone – most buyers are not even going to consider viewing the property, let alone putting an offer forward.

It is important for you to have good quality, professional photography that shows your property in the best possible light for buyers to see if they like the property or not. Taking photos of the property on your phone cannot be compared to a professional with a camera and experience to make the property look its best!

Potential Buyer’s Financing Falls Through

Relying or keeping your hopes up on a buyer who later faces difficulty securing finance can jeopardise the entire sale. So it’s important not to get attached to either the highest offer or a buyer you like. Leave it to the estate agents to carry out any financial checks and assessment of the buyer BEFORE they put an offer forward to check if they are a waster (it sounds mean but honestly that is what they are) or a buyer who is serious in putting forward a genuine offer.

Neglecting or Hiding Necessary Repairs

Ignoring essential repairs can result in a lower home valuation and turn off discerning buyers. Plus it’s morally wrong if there is a danger or needed repair that you keep away from the estate agents or buyers, if it was found it can turn buyers off. So it’s best to be honest and transparent with any repairs that need to be made.

Conclusion

Selling a property involves numerous variables, and being aware of the worst-case scenario is crucial for a successful transaction. By addressing potential issues proactively and seeking professional advice when needed, homeowners can navigate the selling process with confidence and increase the likelihood of a positive outcome. Remember, preparation is key in ensuring a smooth and stress-free home-selling experience.