Thank you so much to guest contributor Ian Pearson for this article on Home Sales Tips. Learn more about Ian on Google+.
While shopping cart abandonment may be a problem in virtually every industry, when it comes to purchasing a house, it’s quite a delicate matter. The investment is huge, which means that making a mistake may be seen as worse than a nightmare. Therefore, people tend to be incredibly careful and back away even at the slightest sign of a problem. With so many houses on the market, why would they settle for anything short of perfect? That being said, if you aim to sell the place, you need to get familiar with the most important reasons that drive people away from purchasing a house.
While mentioning termites may sound like something too specific to discuss, keep in mind that these critters tend to be present in about 1/3 of all properties. Sure, this may be a regional issue, in fact, there are even lists containing cities with the biggest termite infestation . This means that if you own a property in a certain region, termites might just be a way of life and not something that you can be 100 percent safe from. The biggest problem surrounding them lies in the fact that the structural damage caused by termites might cost an arm and a leg to repair. This is something that a potential buyer will be aware of, as well, which might make them reluctant to buy.
2. Sewer problems
The reason why this is so devastating as a problem is due to the fact that this particular problem can be masked. This is also something that you would sense as soon as you enter the place and that’s something that has a seriously negative impact on the overall lifestyle quality within your home. One more problem with this issue lies in the fact that it’s not covered by an insurance, even though the cost of repair isn’t that great. All in all, attempting to sell your home before you manage to resolve this issue might not be the easiest thing to do. Lastly, seeing as how “sewer problems” is an umbrella term, what this entails is the deterioration of pipes, collapsing pipes or even pipes that don’t slope properly.
3. Dishonesty by the seller
A person selling a house has it in their best interest to sell the place. This means that if they have to choose between honesty and selling the place, not a lot of them will go with the former. The biggest problem here is the fact that as an inexperienced (perhaps even a first-time) buyer, you might have a hard time seeing through these lies and secrets. This is the main reason why more and more people
decide to hire a representative like Curtis buyers agents . As a skilled agent knows all the tricks of the industry and won’t be as easy to deceive.
4. Shoddy workmanship
Every homeowner sometimes gets tempted to attempt a DIY home repair, either to cut costs or to give themselves a self-esteem boost. Either way, even if you do manage to patch the problem, your buyers will be able to see the work that you’ve done on your own. Needless to say, this will turn them away from making the purchase. First of all, they might start doubting your craftsmanship and second, they might start thinking about some other repairs that you’ve made, that they can’t see with their bare eye.
5. Personal reasons
As a seller, you simply won’t have enough input into what’s taking place in the lives of your potential buyer. They might have just lost a job, undergone a breakup with a person that they were supposed to move in with or suffer from some health problems. Other than this, they might have fallen in love with a different property or had an emergency expense that just made them realize that they won’t be able to
cover insurance, mortgage and interest after they buy the house. Finally, being a homeowner is a serious commitment, which is a reason enough for one to walk away from all of it.
Deciding to buy a house is most likely something that one will do just once in their lifetime. Therefore, even the slightest red alert should be enough for you to back away from the purchase. From the standpoint of the seller, it only means that they have to commit twice as hard in order to close the sale before their buyers back out.