Learning About Luxury Real Estate

Some properties fly off the proverbial shelf almost as soon as they are listed, while others take ages to sell. Whether or not your house will sell quickly depends on several issues, but there are also a few indicators that can tell you which side the wind is blowing. Here are some of the telltale signs that mean your house will be difficult to sell:

The House Is Unique

A unique house is one that isn't built with conventional materials or designs; being unique isn't synonymous with defective. Examples of unique homes are those constructed with sand-filled plastic bottles (they actually exist), those constructed with tires, and those designed in unique shapes (think of an airplane-shaped house), among others. Such unique properties are difficult to sell because they only attract a few buyers; you will have to target these people.

The House Is the Biggest In the Neighborhood

Neighborhoods tend to attract the same people—meaning people with roughly similar tastes and financial muscles. Therefore, it will be difficult to sell a five-bedroom house in a neighborhood filled with two- and three-bedroom houses. Most of the people who will be interested in the neighborhood or viewing your house may not be in the market for a five-bedroom house, or they may not be able to afford it. You will need to market the property to those who can afford the property and wouldn't mind living in the neighborhood.

The House Has Illegal Additions

Selling a house with an illegal addition is a tough act because the potential sellers know that they will be on the hook for rectifying the illegalities. At the same time, you are legally required to reveal these issues to potential buyers so you have to bring them to their attention. You have the option of bringing the house up to code by remodeling it, but this may also incur expenses that you may not recoup during the sale. Another option is to sell the house on an as-is basis, but this may also not fetch a handsome price.

The House Is Really Old

Lastly, an extremely old house may also be difficult to sell. People assume that old houses are poorly maintained, weren't built up to code or contain dangerous systems (such as failing electrical systems). You may have to renovate the house significantly, sell it on an as-is basis or buy a home warranty for your buyer.

You can sell a property without a real estate agent's involvement, but it isn't easy. It becomes even more difficult if the house in question is falls among those that are difficult to sell. Luckily, experienced real estate agents deal with such cases all the time and have the experience to help you. Contact an agency like Barefoot Real Estate to learn more.