Selling a home can be an emotional and logistical rollercoaster. While the goal is always a smooth sale at the best possible price, complications can arise that throw a spanner in the works. These challenges can test even the most prepared sellers, from unexpected delays to tricky negotiations.
Here’s a guide to understanding and overcoming common complications during house selling, ensuring you stay ahead of potential setbacks.
Chain breakdowns
Property chains are one of the most significant challenges in home sales. A chain occurs when the sale of one property depends on another, often involving multiple buyers and sellers. If just one link fails — like a buyer pulling out or their mortgage falling through — it can cause delays or even force everyone in the chain to start over.
How to tackle It:
- Prioritise chain-free buyers: While they may not always offer the highest price, they often ensure a faster and more secure sale.
- Keep communication open: Work closely with your estate agent and solicitor to monitor the chain and address potential issues promptly.
- Have a plan B: Be prepared for delays, and if necessary, explore short-term accommodation to keep your plans moving.
Low offers or hesitant buyers
Receiving offers below your asking price or dealing with buyers who are reluctant to commit can be frustrating. This situation often arises when the market is uncertain or your property hasn’t stood out as expected.
Solutions:
- Be flexible: If a buyer’s offer is slightly below your expectations, consider their circumstances and the potential speed of the sale.
- Enhance your property’s appeal: Small improvements like a fresh coat of paint or professional staging can help attract more serious buyers.
- Review your asking price: Ensure your property is competitively priced by comparing similar homes in your area.
Related: What to consider when assessing an offer.
Delays in conveyancing
The legal process of transferring property ownership, known as conveyancing, is a common source of delays. Missing paperwork, slow responses from solicitors, or unexpected legal issues can all slow things down.
How to avoid this issue:
- Instruct a solicitor early: Engage a trusted conveyancer when you decide to sell so that they can prepare documents in advance.
- Stay organised: Gather all necessary paperwork, including property deeds, planning permissions, and warranties, before listing your home.
- Follow up regularly: Keep in touch with your solicitor to ensure progress stays on track.
Problems found during surveys
Surveys can uncover issues with your property, from structural problems to outdated wiring. These findings can lead to buyers renegotiating or even withdrawing their offer.
Steps to prepare:
- Conduct a pre-sale survey: Identify and address potential problems before putting your home on the market.
- Be honest: Disclose known issues upfront to build trust with buyers.
- Negotiate calmly: If a buyer requests a reduction based on survey findings, consider the long-term benefits of keeping the sale on track.
Difficulty attracting buyers
Sometimes, despite your best efforts, interest in your property might be lukewarm. This can be due to market conditions, pricing, or how your home is presented.
Ways to Generate Interest:
- Boost your marketing: High-quality photos, virtual tours, and effective online listings can make a big difference.
- Focus on kerb appeal: The exterior of your home is the first thing buyers see — make it inviting with fresh landscaping or a clean entrance.
- Reassess your pricing strategy: If your home has been on the market for a while without offers, it may be time to adjust the asking price.
Find the value of your home now.
Buyer financing issues
Even after accepting an offer, buyers may face financing hurdles, such as difficulty securing a mortgage. This can delay the process or result in the sale falling through entirely.
How to handle it:
- Pre-qualify buyers: Work with buyers who have already secured mortgage approval in principle.
- Maintain a backup plan: Keep communication open with other interested parties in case the original buyer withdraws.
- Be patient but firm: Set clear deadlines for buyers to secure their financing.
Unforeseen personal circumstances
Life doesn’t pause for a house sale, and unexpected events—like a change in job, family emergency, or health issues—can impact either party in the transaction.
Managing the unexpected:
- Communicate openly: Keeping all parties informed can help everyone adapt to new timelines or needs.
- Stay flexible: Be willing to adjust your plans to accommodate unforeseen circumstances without jeopardising the sale.
- Rely on your agent: An experienced estate agent can help navigate personal challenges and keep the process moving.
Market conditions
External factors like a downturn in the property market or changes in interest rates can complicate your sale. Buyers may hesitate, or you might not achieve the price you were hoping for.
Navigating a tough market:
- Stay informed: Keep up with local market trends and adjust your strategy accordingly.
- Be realistic: Understand that market conditions might require compromises, such as accepting a lower offer.
- Focus on the positives: Highlight unique features of your home that make it stand out, regardless of market conditions.
Keeping complications under control
Selling your home doesn’t have to be overwhelming, even when complications arise. The key is to stay proactive, flexible, and well-prepared. From chain management to survey surprises, tackling challenges head-on ensures your sale stays on track.
With a clear plan and support from experienced professionals, you can navigate the ups and downs of the selling process and achieve a successful outcome.
Ready to sell? Start your journey with a free valuation from your local Whitegates branch. We understand your area’s unique challenges and opportunities.
