How to Sell a Challenging Property

Property Market
Added on April 15th 2016

How to Sell a Challenging Property

No-one wants to hear that their property is a challenge to sell, but some simply are in the wrong area, have strange architecture, or are deeply untrendy. However, no house is unsellable – you just have to think creatively and be prepared to bend a bit, as well as being realistic.

Look at the kitchen

Kitchen renovations are expensive and time-consuming and many vendors prefer to just leave it to the buyers. However, this might not always work, so sometimes it’s best to bite the bullet, especially if the existing kitchen is looking old.

Garden size

If your garden is small and you live in a family-heavy neighbourhood, you’ll struggle to sell. Likewise, if your garden’s big but the house is small, you’ll face problems, as most buyers will want a family home. You should target downsizers instead. It’ll take longer to sell, but you won’t face repeated rejections.

Tired all over

If there’s a lot of work to be done, you face a stark choice – either do the work or lower the price. Otherwise, while you’re languishing on the market, you could tackle the jobs in order of urgency.

What else can you do?

Reduce the asking price

Reducing the asking price gives your agent something to work with and it will draw in more viewings. After all, you want to move, right? Start with a small discount and see what happens.

Do some work

If your price is right, do what you can to make your place more attractive. This doesn’t mean a new coat of paint or some mood lighting in the hallways – start with non-cosmetic work, like new wiring, a new boiler or bathroom suite. Buy the best fittings you afford.

Offer incentives

Offer to cover stamp duty, or to reduce the price so the house drops a stamp duty band. You could also offer to pay legal fees or survey costs, as well. Some vendors include furniture or garden equipment, or a year’s membership to the local gym.

 

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