Once you’ve made the decision to sell your property, do you accept the first offer you get and move quickly, or hold on and hope that a better offer comes in later down the line?
Knowing how to navigate the complex process of selling your property can be tough – which is why we always recommend partnering with and seeking the help of experienced estate agents in Romford. But even with the most experienced agents on your side, there are still things that can go wrong when selling a property.
Being aware of what can go wrong, and knowing how to overcome the possible challenges that can arise, is the best way of managing expectations and ensuring that you are prepped for whatever is to come.
Here are some of the most common things that can go wrong and stall house sales, and how to navigate and manage them.
1. Your Buyer Could Pull Out Because They Find Something They Prefer
One of the hardest things about selling a property is the period in which the buyer holds all the power – with the ability to pull out of the sale with no real or defined reason, should they choose to.
When a buyer pulls out, the sale falls through and your property must be relisted – unless you have a back-up or secondary buyer waiting in the wings to step in. If your property is in a particularly sought-after location then this could be possible, though the ever-changing nature of the market means it isn’t something you should rely on.
It’s for this reason that selecting the right buyer is so important – establishing any chain that they have and ensuring that they have everything in place to complete the sale as soon as possible after the offer has been accepted. If you have multiple offers on the table, it’s perfectly okay to choose the buyer that best suits your ideal timeline and your vision for the property moving forward.
2. The Survey Could Throw Up Unexpected Challenges
After an offer has been placed on the property, the buyer is within their rights to schedule a series of surveys on the property to ensure that they are aware of what they are buying and are able to complete (and afford) any necessary repair or structural work that they see fit.
If a survey comes back with challenges or unexpected issues, you may find that the buyer pulls out. In order to minimise the chance of this occurring, we always recommend conducting your own surveys prior to listing the property, to keep ahead of any concerns that may pop up when a buyer shows real interest. An expert team of estate agents can help to advise on the best surveys to schedule in advance of listing your property, and how best to handle the outcome.
3. The Process Might Overwhelm You As A Seller
It’s not uncommon for sellers to become overwhelmed by the process of selling – particularly if they have an emotional connection with the property.
Taking a backstep can allow the process to run smoothly, with a dedicated estate agent team able to conduct viewings and manage offers on your behalf – leaving you free to search for your next dream home. Get in touch with your local estate agents in Romford today to discuss.