Selling any property can be stressful and time-consuming, especially if you meet setbacks. Make sure you are aware of any delays you might face, to put you on the front foot. We’ve outlined the most common problems sellers face.
If your house is full of personal possessions, the time it will take you to empty it completely will be longer than you’d expect. Don’t underestimate the time to avoid being caught out. The BBC offer packing tips to help your move run smoothly. You may wish to hire a removal van, but all your belongings need to be packed away in labels boxes before this arrives. It can also be more difficult if you are selling an inherited property. It might be a good idea to empty the property before putting it on the market. Removing your items will also help potential buyers visualise themselves in your property more easily. Try and find a removal company that operates in your local area. For example, if you live in Frankston, search for ‘frankston removalists‘.
Be aware of the chain of buying and selling
The person interested in making you an offer might also be waiting for an offer on their own house. This chain can be complicated and brings sellers difficulties. There are a few ways you can avoid a chain, most obviously, by selecting to a buyer who isn’t in a chain. This could be a first-time buyer or someone who is currently renting a property, although finding the right buyer is never easy.
You can also try to avoid the chain as a buyer by moving into short-term rented accommodation. This will allow you to make an offer as a chain free buyer and you might have more luck. For personal advice, always seek professional help. Choose a wealth management service, such as the one offered by Partridge Muir & Warren, who can offer you personalised advice and help you manage your finances.
Be cautious of first-time buyers
First-time buyers seem like the perfect solution for avoiding a chain of buying and selling, but be aware that you could face a big setback if their mortgage application is delayed or denied. Make sure you are fully aware of their situation before taking the selling process any further with a first-time buyer.
Be prepared for a change of heart
Choosing the right house is one of the biggest decisions anyone will make. This means that buyers might drop out at the last minute for a number of different reasons, or they could reduce the offer. It is not possible to prepare for a client dropping out at the last minute, but being aware that this could happen puts you on the front foot.
Make sure you are fully aware that until contracts are signed, they are under no obligation to buy. They are also not obliged to pay any for any costs the seller has incurred. It is possible to sue buyers who pull out after contracts are signed for any losses you have incurred. You might also be allowed to keep the deposit. You should always seek legal advice.
While it is not possible to prepare for all these setbacks, it is vital that you are aware of all possible outcomes before putting your house on the market.