How to sell a problem property


Updated on 08 July 2009 | 7 Comments

If your house has been on the market for several months and no one is showing any interest, these nine nifty tips might provide some inspiration...

In today's depressed housing market, selling your home can be a serious challenge.

But if your house has been on the market for a while now and it just won't shift, don't be tempted to give up. Here are nine top tips to help you exchange your 'for sale' sign to one saying 'sold':

1) Lower the price

I know it sounds obvious, but lowering your asking price is the first thing you should do. Your expectations could be a little high, and as hard as it can be to accept that your home won't sell for as much as you'd hoped, if you want it to sell, you may be forced to swallow your pride.

By lowering your price, you're likely to attract more interest and more viewings - and who knows, if you do attract enough interest, the price may bounce up again as potential buyers outbid each other in an attempt to get a bargain. 

Read How to price your home for more tips.

2) Do some DIY!

If you've got a few odd-jobs around the house that you've never got around to sorting out, this is the time to do it. Potential buyers don't want to see a cupboard door hanging off its hinges, cracked kitchen tiles, or dripping taps. After all, these are things buyers will have to fix themselves if they move in - things they will have to spend time and money on, and this could affect their offer price.

Getting a new bathroom or kitchen put in can easily boost the value of your home. But if you can't afford that, you can replace your kitchen cupboard doors and handles fairly cheaply. Lark & Larks sells a variety of affordable handles, knobs, hinges and doors.

3) A splash of paint

Not too dissimilar from the above, but it really is amazing how a fresh lick of paint can transform a room. Repaint the walls in a cheap but neutral colour such as magnolia to give it a brighter feel. If you want to add a splash of colour, you could use a bolder colour, such as red, for one wall, or use colourful accessories and cushions.

And if you have any dirty or patterned carpets, it's worth ripping them out and replacing them with softer, neutral shades. The disgustingly bright red carpet that ran throughout my flat was the first thing to go when I moved in - and  believe me, my flat looks a lot brighter and a lot more welcoming now!

Read Eleven mini-makeovers for your home for more ideas.

4) Declutter!

If you've got stacks of knick-knacks lying around the house - including that higgledy-piggledy pottery bowl your nine-year old daughter made you - remove them! Whatever sentimental value they have, clutter makes your home look smaller and can make it harder for potential buyers to imagine living there, with their own stuff.

So have a good tidy up and get rid of all that junk! Pack it all away in boxes and store it - after all, you'll have to do this when you move, so you may as well get a head start.

It's also a good idea to remove unnecessary furniture to make your home look more spacious. And give your cupboards a clear-out in case a nosy visitor decides to have a peek at what's inside!

5) It's what's on the outside that counts!

In some ways, how the outside of your property looks can be more important than what's inside. If a prospective buyer is welcomed by an over-run garden and paint peeling off the front door, chances are he/she won't want to come inside.

So give your front door a fresh lick of paint, clean the windows, mow the grass, trim the hedge, sweep the path, add some colourful plants round the door, and repair the gutters.

6) Throw in some items with the sale price

It can be a good idea to include items such as white goods or furniture in the sale price - providing they're likely to be wanted. These can be particularly enticing to first-time buyers.

It's worth telling potential buyers immediately what will be included in the sale and what you will be taking with you - so if you plan to remove all the carpets and curtains, tell them!

To make your job easier, HouseWeb has created a very nifty inventory list for you to print off and fill in! This way buyers will know exactly what's included in the sale.

7) Be flexible about viewings

As intrusive as viewings can be, try to be flexible about timings. If someone wants to pop by at 8am on a Saturday morning or 7pm on a Friday night, agree to it. If you really want to sell your home, you need to be flexible.

One aspect I found quite baffling when I was watching The Unsellables - a recent BBC programme about problem properties - was that one man wouldn't allow his estate agent to keep hold of a door key. And given that he was frequently away on business, this severely affected viewings. So make sure your estate agent can easily access your home for viewings, even when you're not there.

8) Get a good estate agent!

Is your estate agent marketing your house properly? How much experience does he/she have with selling properties in the area? What does the property brochure look like? What are the photos like on the estate agent's website?

All of these questions are ones you should be asking yourself. If your home isn't being marketed properly, it won't sell.

When advertising your home, don't simply use a photo of the exterior. Potential buyers want to see what the interior looks like so take photos of as many rooms as possible (and make sure you've tidied them up first - remove bins and close the toilet seat).

Ask your estate agent if it's possible to include a 'virtual tour' of your home on the estate agent's website. These are always popular with buyers!

9) Avoid strong odours

Potential buyers can easily be put off by strong smells. So avoid cooking foods such as fish or curry before buyers come round, and if you're a smoker, start smoking outside. Clean up any cat litter and empty the bin.

The classic advice is to bake some bread or have some coffee brewing as viewers pop by. But I think if you try to mask smells too much, prospective buyers may think you have something to hide. So just get rid of any odours and use a tiny bit of air freshener instead.

So there you have it, nine ways to help your house sell! Good luck!

What are your tips?

Got any tips of your own? Please share them using the comment boxes below.

More: How to buy a repossessed property | The nine best home improvements | How to improve your home on a budget

Comments


Be the first to comment

Do you want to comment on this article? You need to be signed in for this feature

Copyright © lovemoney.com All rights reserved.