Getting Over The Hill: The Top Five Problems Faced When Selling a Flat
Buying and selling property is an extremely complicated process and it’s important that it handled correctly by professionals to ensure that nothing goes wrong and ends up costing you more money.
There are various types of problems and challenges that can come about during the selling process, and if you are selling on your own then it can become overwhelming.
Working with experienced professionals in the real estate industry is the best way to avoid getting caught out by any of these common problems:
1. Short Leases
Flats are mostly bought and sold as a part of leasehold and this can make things complicated if you don’t understand. Most properties have a very lengthy lease period but as the time gets shorter- the property becomes less valuable and more unattractive to mortgage lenders. Therefore it becomes less likely that there will be buyers for the property.
Using companies such as Open Property Group when selling your property will help eliminate any short lease problems that you might encounter.
2. Lease Drafting Mistakes
It is incredibly easy to make silly mistakes with documents such as lease drafts. It is essential to work with professionals when signing any form of lease documentation. Overlooking small things in your lease draft can be a factor if you are struggling to sell.
3. Marketing Incorrectly
If you are selling on your own you could be marketing your flat incorrectly and not reaching the appropriate target market. This is where it helps to work with an experienced agent that can use their contacts and resources to reach the right people.
4. The Wrong Agent
It is really important that you work with an experienced and professional real estate agent and company when you are trying to sell your flat. Their professionalism and experience can help a great deal towards bring the right people to look at your property. The wrong agent can be a disaster when trying to sell your property.
It is surprising how many people don’t think about the appearance of their flat before a viewing. If you are selling your flat make sure that all the necessary maintenance is done before you put it on the market. Leaky plumbing, peeling paint and other small things can have a big impact on how buyers feel about the flat.
If you are selling your flat, then it’s important to keep all the things listed above in mind. However, working with a reputable company will help to eliminate all these fears and your can complete the sale without any problems surfacing.