REASONS WHY YOUR REAL ESTATE PROPERTY TAKES LONG TO SELL

Hi smart investors, often time real estate property owners want to sell their property but end up doing it all wrong. Below are some of the reasons why your property is taking too long to sell.

THE PRICE IS TOO HIGH:
Many property owners place too high a value on a property they want to sell, either home or bare land. It’s not always easy to admit the truth about your property's worth, but you have to look at your property from a buyer’s perspective. One way to get a more realistic idea of what houses / lands are selling for, is to look at recent property sales results in your area. For an even better evaluation, you can employ the service of a Real Estate Valuer who will evaluate the property's worth.


WANT TO SELL YOURSELF / FSBO (For Sale By Owner):
This usually happens when you decide not to pay the agency fee required for the successful sale of your property; What most property owners fail to understand is that realtors / agent work intertwined and are so interwoven that with their network you can get your property sold in the shortest period of time, same applies to searching for a property to buy.

Agents / realtors are skilled to highlight the high sides of your property while also making known the down sides without diminishing the value and you need their skills in getting this done. Agents / Realtors will only exhibit their skills where they are going to be paid for it. You can't do what the realtor / agent will do hence the need for them, trying to sell your home yourself will only lead to frustration and longer period of waiting.



IMPROPER DOCUMENTATION:
There are so many cases where some unscrupulous people who are supposed to help a property owner in perfecting their document, rather end up making things worse than it was. It is always advised to seek the service of professionals when perfecting your documents. No potential buyer will buy your property if there are too many discrepancies in your documents.



LITIGATION / DISPUTES:
This is also another area where a lot of property owners get it wrong when trying to sell a property, if there is any pending legal matter on the property it shouldn't be put on sale until it has been settled. Family disputes over rightful ownership or agreement to sell is usually the main reason for litigation on properties, no buyer wants to have legal issues after acquiring a property.

So when selling your property, ensure all disputes are settled before putting it up for sale.



LOCATION / NEIGHBORHOOD:
I can't over emphasize this, in real estate location is everything. You can't build a mansion in a rural area / low-cost house in a boulevard. If you build a 50million Naira mansion in a location where there are low cost housing, you will most likely end up selling the property undervalued, that's why planning is key from the onset. Ensure you know your location and build appropriately so when you intend to sell, it is easy to get a buyer.

A sophisticated and high class individual won't live in a low cost neighborhood, no matter how luxurious or tastefully furnished the property is, except of course in rare cases. So Know your location and plan appropriately.


YOU CHOSE THE WRONG AGENT
Property / Home sellers often think they are getting a better deal by choosing less paying real estate services. However, you usually get what you pay for. Start shopping around for an agent who will make an active effort to sell your property.

Bearing this few factors in mind, I believe your next home selling will be as fast as possible in the shortest period of time.

Happy Selling...


Leamich Nigeria Consult
+2348168364895
+2349051948190