Why your empty property won’t sell and how to fix it
You’ve found yourself with an empty property to sell and as the sunny summer months fade and we head into winter, selling your empty property presents you with the challenges and become a burden. By tailoring solutions to meet the individual needs of you and your circumstance we can remove this burden and move you forward to a successful sale.
Selling an empty property when….
A loved one passes away
We understand that selling an empty property when a loved one has passed away is incredibly hard for you and your family. It’s an emotional time and thinking clearly and rationally about the sale of the property won’t come easily. Don’t feel you have to rush into the sale, take time and when you feel up to it, start to take advice before you rush into anything. Yes, there will be many things that would ideally need to do to make the property more saleable, but it’s advisable not to totally clear the property but to leave key pieces of furniture for the initial marketing to help buyers understand how the space can work.
If you’ve already cleared the property, don’t panic all is not lost as the focus simply changes, as happened with a property we were asked to sell in Todwick.
We were invited to the property to meet the relatives after they’d been marketing the property with another agent for many months. The interest they’d had had been limited and they’d spent much of their valuable weekends making the long journey North to clear the property of 50 years of their relatives cherished possessions. It was clear they were at the end of their tether and not sure what to do next for the best. What was also apparent was that they had a quirky and amazing property, which remained unchanged since it was originally built and held a wealth of potential. Our discussions progressed, and a plan was formulated and agreed. This led to more viewings in the 1st week of marketing with us than they’d had in the preceding months with their previous agents. There was a real buzz at the viewings, many buyers feel in love with the property, it was through our local knowledge of buyers seeking properties like this who were in a position to buy that we were able to introduce them to the Todwick property, matching them to their new dream home and 2 months later our client’s sale successfully completed and we had another happy home buyer.
An investment property no longer fits your needs
Selling an investment property that no longer fits your needs such as tenanted property is not an easy decision, many people want the convenience of keeping the rental income whilst marketing the property, “just in case”. Take a moment to put yourself in your tenants shoes, your landlord tells you “not to worry but their selling the property”. Your landlord tells you “I know it’s your home, but would you mind letting a stream of stranger’s trample through it on a regular basis, disrupting your evenings and weekends’. In fairness you’d have to have a very understanding tenant to accommodate this and doesn’t quickly serving my notice and finding a new home.
The reality is to achieve the best result, waiting until there is a natural break in the occupancy of the property is the most effective way to sell it. This way you remove the barriers to sale that tenants present and open your property up to a wider market. If you can’t stand the cost of a void period, look to market the property a couple of months before the end of the tenancy, as the owner of a bungalow we were asked to sell in Worksop chose to do.
The owner lived in the South East and infrequently came back to the area so decided it was time to sell their rental property. Working with the letting agent we arranged for the relevant discussions to be had with the tenant and notices served. Understanding the turmoil this was putting the tenant through we personally visited the tenant and agreed suitable windows for viewings. Whilst some restrictions were place on viewings they weren’t unworkable which meant buyers requests could be accommodated. Credit to the tenant, they kept the property immaculate which helped with viewings and in no time, we’d secure a buyer. Providing the buyer with vacant possession of the property on Completion of the sale was a key step, yes, the correct notices had been served but that doesn’t always mean the tenant adheres to them. With some careful management and working closely with both parties solicitor we managed to secure vacant possession and the sale was Completed the day after the tenant moved out, delivering the ideal outcome of a smooth sale with a zero-void period for our client.
You’ve refurbished a property
Selling a property you’ve invested time and money refurbishing should be the simplest of all empty properties to sell and we understand that getting a return from the property and as quick as possible is your objective. Time after time I see properties like this where developers unfortunately fall at the final hurdle, in their rush to get the property on the market they forget what’s important. Freshly painted walls and new carpets are all well and good, but they won’t pull on the heart strings of buyers, they won’t make your property into a buyers dream home. Take a moment to consider what the large house builders do, that’s right they give their buyers a Show Home, a fabulously presented, beautifully staged property that buyers aspire to own. Now you’re probably thinking this sounds like a lot of hard work but put it in the context of the work you’ve put in put into your property, how much extra work is it really? and what benefits can it bring you?
I’d like to introduce you to Mr & Mrs F, clients specialise in property refurbishment and they have a talent for presenting their refurbished properties to show home standard. I know that when we put one of their properties on the market we will start getting enquiries within minutes of it going live.
How do they achieve this?
Throughout the selection process they will invite our option on the properties they are considering, once secured we will keep in touch during the works helping them to keep their target buyer at the heart of the refurbishment works. When the works are completed the photo shoot will be booked once the property is fully dressed and looking amazing and ready for that final dash of myplace magic on the day of photographing. Working together in this way gives them and us the comfort of knowing their property will connect with buyers and secure them the timely sale they require.
Whatever type of empty property you’re selling, we’ll find the right solution to unlock your sale and take you forward to a successful Completion.
Until next time
Got an empty property to sell, we’d love to have a chat…..