Selling any property, whether it’s your home, an investment property, or otherwise, can be a complex and lengthy process. As such, the last thing you want to do is hold it up even further. For that reason, it’s worth taking a closer look at some of the most common delays and roadblocks, as well as what you can do to clear them out of the way.
Working With Unqualified Buyers
Entertaining buyers who aren’t financially prepared to proceed can easily lead to heartbreak. If they don’t have mortgage approval, sufficient funds, or any other way to show their serious intent, then you can waste time negotiating with those who might not be able to buy in the first place. Verify a buyer’s position early so you know whether to start taking them seriously, and when to tell them to come back later.
Missing Mandatory Documentation
In many cases, you need the right legal documentation to go ahead with a sale. This can include property title deeds, energy performance certificates, planning permissions, building regulation approvals, and so on. Take the time to research which documents you’re going to need well in advance and get everything in order for the due diligence phase. Having things ready and transparently available can also help you build a little trust with your buyers.
Title Issues
Having the title ready to go is vital. Any lingering issues like uncertain ownership, boundary issues, and restrictions on the title should be cleared well in advance. Working with a provider of closing services can make sure that the property does indeed have a clear, sellable title and manages the closing process for you, coordinating between buyers, sellers, agents, and lenders, as well as overseeign the actual final transfer of ownership. Having a third-party ready to clear up errors and make sure the sale is legally sound can speed the process up signficanlty.
Survey And Valuation Surprises
Your potential buyers shouldn’t be surprised by anything they find during surveys or valuations, because you should have cleared them up a long time ago. Any lingering structural issues, damp, outdated electrics, or property value discrepancies can lead to renegotiations or even cause the buyer to pull out of the process entirely. Get your own pre-sale survey to identify potential problems early and either inform the buyer or fix them before putting your property on the market.
Poor Kerb Appeal And Weak Advertising
If you’re not able to put your best foot forward with your property, then you’re not likely to get many buyers to begin with. Simple kerb appeal improvements like tidying the garden, repainting the front door, or cleaning windows can make a significant difference. Similarly, make sure your property marketing is using high-quality photos, detailed descriptions, and provides all of the details necessary across a range of the most visible online listings.
There’s never any guarantee of a quick and easy sale, nor even that an agreed-upon sale will go through. However, all you can do is make things as smooth as possible on your side with the tips above so that you know you’re not the one getting in the way.
