What is the Most Common Reason a Property Fails to Sell?

If your home is currently languishing on the property market – even after trying with an auction house or sell house fast company like ours – you’re probably asking:

• “Why can’t I sell my house?”
• “What is making my house unsellable?“
• “What do I need to do to make things work?”…

First off, don’t panic! – the answer may be more straightforward than you think…

In this article, based on nearly 2 decades of house sale experience, we explore the main reason why houses for sale fail to attract offers.  Further down, you’ll find some pointers on how to rectify the key factors causing this problem.

An Unreasonable Asking Price

The top reason for a house failing to sell is an asking price that is too high.

Even if they can afford the amount that is being demanded, most buyers are savvy enough to realise when something is overpriced.

What’s more, when searching online, many people enter a budget range that excludes the more costly properties – so they won’t even see the home you are planning to sell if it is priced above a certain level. This narrows your audience down significantly.

Even in a strong market, it’s easy to make the mistake of asking too much for your house. There are a few ways to determine the true value of your property – and, once you have a good idea, there is still the possibility of improving the figure you can achieve with a little work.

Pricing your property sensibly…

The first question you should ask when trying to determine a value is: “how much did my house sell for previously?”. 

You can find this information through popular property portals like Rightmove and Zoopla.  Property prices in your area from recent history are easy to search, and your home is likely to show up in the results.

If you’ve renovated since you bought it, or made any other improvements, it’s likely that the property’s value has risen. However, this isn’t a hard and fast rule. Property prices in the UK may have fallen since then, or your local area might have suffered a downturn.

You can utilise the same sites to explore current or recently sold property prices in your neighbourhood. If your home is priced way above other domestic buildings nearby, there needs to be a very good reason – such as its state of repair, outdoor space or number of rooms.

If you can’t easily explain why your house is worth that much more, it’s probably overpriced.

Consider arranging a professional valuation to get an idea of the amount you should be requesting, as well as using other local property prices in the area as a guide. 

Dropping your asking price even a little may make all the difference – just be sure not to reduce it to rock bottom, as this may suggest to buyers that there is a fundamental problem with the building or its surroundings.

What Happens if I Can’t Sell My House Despite Dropping the Price?

It may be that your property remains on the market despite a clearly reasonable asking price. This will naturally leave you asking “how do I sell my house fast without dropping the price even further?”.

Here are a number of other common reasons why you’re not getting those offers in:

• A lack of curb appeal – This can be rectified by sprucing up your home’s facade and outdoor spaces;

• Unpleasant surroundings – This can be diminished by picking up litter or politely asking neighbours to neaten their own properties a little;

• Poor online images – Improve your chances by displaying pictures of your home that show the spaces clearly, in a neat condition, with natural light wherever possible;

• A subpar estate agent – Perhaps the property sales specialist you’re using isn’t doing the work effectively. Consider switching to another company and sharing information about your property on social media to garner a little more attention;

• Remove the clutter – You may wish to remove a lot of unnecessary furniture and other belongings that are preventing people from seeing the best aspects of your property.  This could also save time and hassle if/when you need to clear your house quickly.

I Can’t Sell My House: What Are My Options?

If you’re still struggling and you don’t have the time, budget or energy to make the additional improvements necessary to attract buyers, you’re probably wondering “how can I sell my house fast and still come away with cash?”.

In situations of this kind, quick home buying firms like Property Solvers can help you. These companies specialise in buying property fast, providing a cash offer upfront that could equate to 75% of your home’s market value without the need to pay legal or estate agency fees.

Transactions can be completed in as little as seven days.  The condition or circumstances of your property do not matter.

For further information about the services provided by Property Solvers, feel free to contact our team today. We will be more than happy to provide you with all of the advice you require, as well as a free, no-obligation cash offer.