No One is Buying! A Breakdown of The Homes That Don’t Sell

When you put your home on the market, you expect it to sell fast. However, when offers are few and far in-between, there are likely contributors behind your inability to sell. Every day that your home doesn’t sell, it will — statistically — sell for less. Let’s dive into a breakdown of the most common reasons why properties do not sell, why they sit on the market, and solutions to these issues. 

Water Damage:

Homes with water damage pose as one of the most challenging obstacles for sellers. Potential buyers are concerned about where the water source penetrated, how much damage it caused, and if the penetration has been sealed. It can take thousands of dollars and hours on end to find root causes of leaks, not to mention uncover the true extent of the damage it has posed to the main systems of the property (i.e., failing electrical systems posing a security threat to the main alarm system). Typically, water leaks not caught within 24 hours can be detrimental to the property, making it one of the quickest rising issues when trying to sell a home. While a detailed inspection may sometimes reveal the causes of these issues, buyers may be heavily deterred from entering into a purchase agreement with the stain of water damage associated with the property. If the water damage is flood-based, this can raise questions about whether a home is healthy for its residents. A simple clean-up is not enough to eliminate mold and mildew in most situations. In many circumstances, you may (or may not) notice a spot where mold and mildew continue to grow after restoring your home after water damage.

Houses Out of State:

Trying to sell a house out of state is one of the more difficult challenges. Chances are, you are unpacking your new home, dealing with other investment properties, and most importantly, you are far from the property you are trying to sell. Finding an agent to list your home out of state can be difficult, time-consuming, and may fall on the backburner. Not having accessibility to the property presents many struggles for sellers and can cause the process to linger. Often, vacant houses owned out of state increase the possibility of broken windows, the homeless occupying the property(squatters), termites, or rats infesting the property. Selling a house on the market is challenging to begin with but doing it from another state is even more difficult.

Inherited Houses:

One major issue with selling an inherited house is the likelihood of it being outdated. Often, the home has not been updated in years or is in a great state of disrepair. When searching for homes on the market, buyers want updated, modern, and well-maintained listings. Unfortunately, this is typically not the case of a house occupied by a loved one over a long period of time.

The Solution:

The solution to the most challenging houses to sell would be to find a company to purchase the property in ‘as is” condition. Companies such as Abbott-price allow you to sell your property off the market, which means no extra paying costs to fix any damages or outdated aesthetics. They also make it highly possible to do from out of state to get the property off your hands quickly in cash, without going through the process to list it on the market.

   

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