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Why Do Some Apartments Never Find Their Buyers?

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Real Estate business has many underwater stones. Much of the important information about the property on sale is kept secret from the potential buyers. In addition, there are some reasons for the property to remain in the market for months, years and the owners do not ever get profit from selling them. Though it may seem that every product has its buyer, sometimes the requirements of the sellers are so exaggerated that a property is only getting older and never bought by anyone.

Let’s analyze why buyers categorically refuse from buying property and what astonished them most of all.

 

1. Too high price

It is natural that every property has its price and it is impossible to buy a mansion for the price of the one-bedroom flat. At the same time, some sellers have unrealistic expectations concerning their property and set such high prices that only make people smile. The price of the apartment must be set in accordance with the average market price, but if there is no interest in it, it is time to drop the price. If the owner is not ready to do that, he must be ready to spend years in the listings and get no result.

2.  The real apartment differs greatly from the description and images

When a person comes to showings, he expects to meet his expectations and see even a better flat than he has imagined according to the description. Imagine how you will feel if all your desires vanish as soon as you step in the apartment.

The lie has always been a discouraging issue and it should not be justified. Such listings may be counted on buyers who are ready to give money without being shown what they buy, but are you sure that this absent-minded person will get into your trap?

It is natural that you will never sell an apartment for the price indicated in the listings if its condition is much worse than described.

3. Non-habitable and messy flat

It goes without saying that an apartment is chosen for living in it and even if you are ready to pay money for a property that requires restoration, you will hardly wish to buy a home that reminds a dustbin both visually and by smell. It is impossible to get rid of such long-lasting smells and even repairs will not kill them. That is the reason why such messy flats are very difficult to sell.

Another issue is the price. Many such apartments are estimated at the cost of a home with a fresh renovation, while you will have to spend a good sum over the price to get it in reality.

4. The listing photos are absolutely unattractive

Most of the property is chosen by the potential buyers on the basis of the price and images. The correlation should be the following: excellent listing photos for a reasonable price are most often viewed and interest buyers. But some sellers never mind setting a sky-high price of the property accompanied by dark, poor quality images, so it never moves from the listings.

This is how well staged apartment photo should look like

This is how well staged apartment photo should look like

 

5. Problems with the previous sale

People never wish to acquire new problems and property is not an exception. It happens that some apartments may be banned to sell by courts or have gone into a contract that was not closed, while their sellers act illegally and try to cheat the potential buyers. Unfortunately, nobody is insured against fraud, but if you follow all the procedures right, it will prevent you from being cheated.

6. Too persistent sellers that put buyers under time pressure

A desire to force somebody to make a purchase has always been suspicious. When a person feels pressure, an intelligent personality will think twice and make a step back. Such an annoying behavior results in the thoughts that there might be some problems the owner wishes to hide so this property might be not worth your attention.

7. Negative connotations are connected with property

Unfortunately, many people though refuse to believe in superstitions but would avoid some negative effect that might be characteristic of the property. If there was a fire or someone found dead in the apartment, if a building was damaged by a terroristic attack or earthquake, the fear of probability that it might happen again makes people look for another flat.

Conclusion

It is a widely known fact that not every apartment owner can sell it within his lifetime. Being stuck on the huge price and having no desire to find compromises usually result in years spent by the property in the listings. If you realize that your home does not interest people, look through the following tips one more time and you may define the reason for your problem.