The real estate game is a fast-moving market that changes all the time. When the right conditions come around to sell, you want to ensure you sell as quickly as can be. This lets you get money quickly, which you can then re-invest in new properties or other money-making ideas.
But, one of the most common problems people have with real estate is that it takes too long to sell their property. When you actually look at instances where this is the case, it’s easy to pinpoint some of the key reasons for a lengthy sale.
The Buyer Is Waiting For Financing
Often, your sale is being delayed because the buyer is still waiting to get financing for the property. They might have a mortgage application in the balance or need their own property to sell beforehand. Either way, you’re left waiting around for them to get the money together and pay you. This is why many people are now going to sites like SellHouseFast.com because you can sell your home for cash money to a buyer that actually has the money. If you’re ever lucky enough to receive bids from someone with the cash right there to give you, then you’ll find the whole process runs a lot smoother and quicker. So, if the bid comes in but the house still isn’t selling, then you can be pretty certain that financing is the issue.
Your House Is Overpriced
The most simple reason behind your lengthy sale is that your house is overpriced. This usually happens when you have a property, get it surveyed and evaluated, and find out the market price is way lower than expected. You’re a little bit greedy, and want to squeeze every last penny out of your investment. This results in you listing it for a very high price that hardly anyone is keen to pay. You’ll know if this is your issue because you don’t even get people dropping by for viewings or expressing interest. I read an article on abcnews.go.com that said if you haven’t received any interest in two months, then you need to re-evaluate the price. It’s normal to want as much money as possible from your property, but have realistic expectations and don’t overprice it!
There’s A Lack Of Communication Between Parties
Finally, I’ve seen many examples of houses that took long to sell because of a breakdown in communications between the main parties. When you sell, you normally sell through an estate agent. All communication between you and the buyer will go through this agent. So, if they’re not good at their job and don’t pass on messages quickly, there can easily be a communications breakdown. This drags out the sale, leaving both buyer and seller frustrated.
If you’re currently trying to sell a property, but the sale just won’t go through, then it’s likely down to one of these reasons. Issues that happen before any offers are received will normally be down to poor pricing. Issues after bids are probably down to either poor communication from your estate agent, or financing problems for the buyer.