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Selling a house that's stuck on the market

selling a house that's stuck on the market

Selling a house that's stuck on the market? When the housing market slows down, the house sellers most vulnerable are those with properties which were incorrectly priced to begin with. And if your house sits on the market for any length of time the problem can deepen.

Estate agents, surveyors and solicitors are all fallible. When it comes to pricing in a changing market, historic prices will not be an accurate guide as to what your property will fetch today.

 

selling a house thats stuck on the market

 

Are you ready for some tough talking? There are always two root causes for a property sticking (assuming it's being reasonably promoted).

If you're selling a property that's stuck on the market you should be considering the possibility, no matter how remote, that either the price or appearance of your property is holding you back. The proof is in the property sale, or lack of it. So to speak.

If your house is stuck on the market for months, sooner or later the penny will drop you need to do something. Other property experts agree. Assuming your house looks OK then take a cold, hard look at the price.

 

selling a house thats stuck on the market

 

Selling a house that's stuck on the market..don't shoot yourself in the foot

Homeowners expectations can be sky-high when it comes to the price they believe their house will fetch and won't be told otherwise. They'll learn the hard way. You don't have to.

Even if you weren't in a hurry to sell your house to begin with, eventually you will be. Everyone's patience wears thin. Sooner or later you'll come round to the view that you're now selling a house that's stuck on the market. And it's no fun.

 

selling a house thats stuck on the market  

But to make an impact on your chances of selling you'll need take fairly drastic action. As the Times article recommends, if you're serious about selling don't just tinker round the edges. You need to be thinking in terms of reducing the price by 10% or more to make an impact.

One benefit of doing this, is that it should encourage house hunters to look at your property who previously had missed it because it was too expensive.

selling a house thats stuck on the market  

However, when you're ready to re-price your house have a look at your prospective competition - Rightmove - is a useful tool for this. This is an important step. The last thing you want to do is to re-price your property in such a way that it's inadequate for one set of house buyers requirements and still too expensive for another group.

This may sound like you're in danger of going round in circles. Selling a house that's stuck on the market can certainly feel like that.  And to some extent you're right. There is some trial and error involved. Pricing a property to sell is not a science - there are no hard and fast rules.

 

selling a house thats stuck on the market

 

And if you're still stuck...

As you've already found out selling a house thats stuck on the market means losing time and money. If you've got used to the idea that your likely selling price is not set in stone, it might be worth considering the services of a cash house buyer. 

This will get you off the hook and let you get on with things. You'll get the benefit of a guaranteed sale when you want it. If you're selling a house that's stuck on the market chances are you will have a sole agency agreement to honour.  You'll need to check the exact terms and conditions of your agreement.

The good news is that even if an agent's fee is due some cash buyers will pay your estate agent's fees if you need to sell before your agreement expires. We do. And we know others will if asked. Just because you're selling a house that's stuck on the market doesn't mean you have to put up with it.

 

 

 

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