Every flat owner wants to make their property as attractive as possible when the time comes to sell. Doing this not only gives you a strong sense of pride, but it also means that you will receive higher offers on the property. This can enable you to sell for a profit and improve your financial position.
But for some flat owners, selling the flat at all may be a challenge, if there are factors which make it ‘unsellable’.
What a potential buyer considers a dealbreaker will vary – people’s taste in property is personal, and so an issue for one buyer may be completely fine for another. However, there are certain challenges which might make a flat unsellable. From structural issues to troublesome plants, and everything in between, we’ve outlined some things which can make a flat unsellable in this blog.
There is nothing more important than the structure of a property – and if your flat has significant structural problems, then this could make it impossible to sell.
Over long periods of time, most properties will experience degradation. But significant structural movements can compromise the safety of a flat, and therefore make it unhabitable. You should always get the property’s safety independently checked if you have any doubts about its structural stability.
No one wants to live in a flat which is unsafe – and lots of people cannot afford to spend vast sums on fixing structural problems with a property. That’s why any issues with the structure can make a flat ‘unsellable’.
Japanese Knotweed is not uncommon throughout the UK, and it gives many property owners a severe challenge. It is a weed which can have a devastating effect on a property. Not only does it grow through cracks in the walls, but its presence can significantly devalue a home.
Many mortgage lenders will not offer a loan on a property which has Japanese Knotweed present, and this is a major reason why flats with this weed present are considered unsellable. However, all hope is not lost, as Japanese Knotweed can be treated and removed by the right experts – and once you do this, your flat may become ‘sellable’ again.
Timber Frame Construction
Timber frame construction is when a property is constructed using timber frames. This method of constructing a property is considered ‘non-traditional’ in the modern day – and although it is completely safe to live there, if the building your flat is in was constructed using timber frames, then this can prevent you from selling it.
Most mortgage lenders in the UK do not lend on a timber frame property. This is because these constructions typically degrade slightly quicker than ‘traditional’ building methods. You are also more likely to attract pests and vermin into your flat. Unfortunately, if mortgage lenders are not willing to offer a mortgage on the property, then this means it is considered ‘unsellable’.
There are several instances where the presence of ‘troublesome trees’ has made a flat unsellable. This may be for several different reasons.
Firstly, if a tree’s roots are growing out, and affecting the foundation of your property in the process, then this could make your flat unsellable because it is unsafe. Some tree roots can also grow out of the surface in your property, which might create cracks and damage to various parts of the flat.
There are also examples of trees growing so much that they hinder gutters and drains.
If trees are causing challenges for your flat, then you (or the leaseholder) may wish to solve this before trying to sell the property. Just make sure that there is not a “Tree Prevention Order” preventing you from cutting it down.
Unwanted Forthcoming Changes
Sometimes, external factors influence the attractiveness of your property, without it being in your control. This might make it difficult to sell your flat fast.
If there are planned works in the local area which will significantly impact the living experience of someone in your flat, then you may find your flat unsellable in the meantime, because people don’t want to buy it until they see the repercussions of these changes.
Some examples of this might include:
- New floodlights being put up just outside the windows
- A new block of flats being built directly on top of you
- A new busy road or train line being created just outside the property
External changes like these are not in your control but may turn people away from buying your flat. Timing is as important as anything when selling a property, so make sure you are aware of all unwanted forthcoming changes in the area, before starting the process.
Solutions are always available
Whatever the reason that you are struggling to sell your flat, the chances are, someone else has been there before. There is almost always a solution to the challenge you encounter.
Alternatively, a cash house buyer like We Buy Any Home will be willing to purchase the flat from you, no matter its condition or the issues it has.