I Can't Sell My House

The annual rate for the house pricing growth in the UK was recorded at under 1% in May 2019. This was the sixth month in a row that saw the growth rate under 1%, meaning that the market has been ever so slowly growing. Although, the number of approved mortgages in 2019 have remained broadly stable.

With your property, you may have come to a standstill, or you may be unsure about why your house isn’t selling. If this is the case, then there are a few factors you could consider to try find your potential buyer.

How Long Should It Take To Sell My House?

To most buyers and sellers, the biggest unknown and unanswered question is, “how long will it take to sell my home?”. To an extent, the answer to the question is how long is a piece of string? Some properties sell within the first week of being on the market, others can take up to six months. The government believes that the process from start to finish will take around two to three months, however they also state that being part of a chain can make the process longer.

Although, there are other factors to making your house sell quicker. Recently, Zoopla conducted research into the slowest and quickest moving house markets within England and Wales. From the research they revealed the five slowest and fastest moving markets based on the average number of days it took for an offer to be secured on a property. They also analysed the average house price for these particular areas.

The fastest moving towns and cities in England and Wales:

Town/City	Average number of days to secure an offer	Average house price
1. Cardiff	37	£255,528
2. Coventry	37	£215,909
3. Newport (S. Wales)	40	£187,842
4. Nottingham	41	£207,456
5. Birmingham	41	£207,474

The slowest moving towns and cities in England and Wales:

Town/City	Average number of days to secure an offer	Average house price
1. Blackpool	71	£122,306
2. London	70	£659,660
3. Newcastle-upon-Tyne	68	£209,693
4. Hemel Hempstead	65	£392,879
5. Bradford	64	£135,798

Source: Zoopla - Correct as of May 2019

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The Advisory also created their own research around what factors make the most impact on why a house may not be selling fast. The top reason for a house taking longer to sell was the guide price asked. Apparently, asking for a similar price to current properties on the market can have the biggest impact on the length of time it takes to sell your home. However, this is a factor that you can change, even though over priced properties get viewings, they rarely find a buyer. Ask less than the competition and you will generate immediate interest.

Another factor within the top three of impacts on why your property may not be selling, was the quality of your solicitor. Solicitors can be overworked, and choosing one on the basis of the price range isn’t always the best. You need to make sure that you research into the correct solicitor who will benefit your house sale.

Reasons Why A House May Not Sell

Some houses stay on the market longer than others, but why? Well, there are a few reasons:

• Timing – if you didn’t know already, the housing marketing is unpredictable and things can change in an instant. There are so many uncontrollable factors such as fluctuating prices, interest rates and local issues. Also depending on the demand for a home, this can either speed up or slow down the housing market. Depending on your current situation, it may be a better idea in the short term to delist your property. However, to an extent, you need a degree of luck on your side.
• Etiquette – it goes without saying, you need to be friendly to anyone that views your home. The correct etiquette is key, show interest, be polite, but make sure you give your viewers enough space. You want them to feel comfortable in the property so they can visualise how they would live in your house.
• Estate Agents – there is a lot of trust given to estate agents. Before enlisting an estate agent with this trust, be thorough and research well into both local and national agents. Throughout using your estate agent, make sure you ask for continuous feedback to understand where you can increase the potential of selling.
• Value of your Home – this can be seen as the most obvious reason for your house not selling. Your property may be over priced for what it is worth. In order to not under/over evaluate your property, research into the local area to see how much other or similar properties are being listed and sold for.
• Marketing – it is crucial that your house is marketed in the correct way. Your property needs to look appealing inside and out, and the photos of your property used for your marketing channels need to demonstrate this. Make sure that you clear up your home before photos have been taken so that potential buyers can see its true potential. This then needs to be matched when you have viewings, you need to try keep your home tidy to help showcase your property’s possibilities.

The Condition May Be A Problem

Often if you're struggling to sell your home one of the main reasons could be the condition of the property. Condition is a big factor when it comes to buying your home, but is it worth fixing the issues or should you just try to sell it as is? We've highlighted a few common condition issues and offered some advice on what you should do:

• Cluttered & Tired: This is something you should fix. Tidying up & repainting tired walls in your house is definitely something that will help its appeal and lead to a quicker sale.
• Cosmetic Touches: Replacing carpets, window covering or drapes or even adding some newer furniture can really help improve the overall aesthetic of your home. If the potential buyers can picture how it may look when they move in then they are more likely to purchase your home.
• Minor Work: You might have a few issues in your home that occur overtime such as tired plaster, an old staircase or a few creaky floorboards. Small piece of work with a relatively low cost are likely to improve the amount you can get for your home, so it may be worth getting a few quotes off different tradesmen to weigh up if you think it may be a major sticking point for potential buyers.
• Major Work: Larger work like a new kitchen, bathroom or even an extension can be costly, and you need to ensure that you get that money back on the sale. Most of the time, it won't add to the property value as much as you have spent, however it will help sell your home much quicker so it depends how eager you are to get rid of your property.
• House Subsidence: This is a major sticking point, if a property has a history of subsidence then you can't conceal it from a buyer and you should fully disclose it. It will likely impact your potential buyer pool to professionals who are looking to renovate the property to sell on.

Tips & Tricks To Get A Quicker Sale

If you want to boost your property’s chance of selling quickly, why not follow some of these tips:

• Documentation – one way of making the process go through quicker is by having all the correct documentation. For example, before you sell you need to make sure you have an EPC certificate for your home.
• Home improvements – remember that hole in the back of the fence? Or those skirting boards that never got another coat of gloss? A great way of making your house sell quickly is by making a few improvements. You don’t need to spend lots or buy a new bathroom suite, just a lick of paint will do. Make sure that you cover all aspects, including the interior and exterior.
• Different ways to sell – there are endless possibilities to selling your home. Traditionally, most use estate agents, however there are quicker ways such as raffles, auctions and house buying companies.

There are different avenues you can take if your property isn’t selling:

• The first of which is that you could look at switching the estate agent. Look into a national and a local agent to work with. Make sure you do your research to choose the most fitting agent for you. You could do this by asking family or friends for their opinion on how their experiences with certain agents or search for reviews online. You could also opt for a "selling my house online" solution, which is a new type of estate agent completely focused online.
• Another option is to consider using a multi-agency agreement. This is where you sell your property through more than one estate agent. You must make sure when doing so, that all the estate agents are happy to be part of this agreement, however this is considered the quickest way to sell with an estate agent.
• A different option you could take is selling your property to a fast house sale company. However, you must choose a company that are members of the NAPB (The National Association of Property Buyers) and understand that you will not get the full market value for your home.
• Sell your house online yourself! Make sure you are promoting it everywhere you can. Think outside the box, put the property on your social media, Gumtree or wherever else you can think of.

I Can't Sell My House, What Are My Options?

Can’t sell your house and want to sell it quickly? Here at The Property Buying Company, we can buy your property in as little as 2-3 weeks. No matter the property, condition or the location. Within the process of you selling your home to us, we will cover all the costs, complete the sale in a timescale that suits you and provide the highest levels of customer service. We have a combined experience of over fifty years of buying properties in England and Wales, there is no doubt you will be in the best hands.

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