Post an ad and sell the house in a day or two – this is what every home seller wants. Yet, this scenario rarely becomes a reality, especially in Ireland.
While a few are fortunate enough to get bought in a day or a week, most houses stay on the market for months. According to reports, it takes an average of seven months to close on a house in Ireland.
Seven months may undeniably feel like an eternity for home sellers like you as well as home buyers. Well, this “selling time” is indeed longer as compared to other countries.
For example, in the United States, the average closing time is around two months or roughly 60 days. Meanwhile, in the UK, it takes two to three months or at least 120 days.
Why does it take too long to sell a house in Ireland?
Sometimes, the problem lies in getting immediate offers. There can be several reasons for this and one of them is the prevailing market condition.
If you are selling during a seller’s market, the chance of your property getting sold quicker is high. This is because, in this market condition, there are numerous property buyers but the supply is scarce.
The opposite of a seller’s market is what is called a buyer’s market. Here, there is an abundance of properties on the market but buyers are few.
During a buyer’s market, it can be challenging to sell your house quickly since you have to compete with a number of sellers and very picky buyers. Well aware that they have countless options, buyers during this market condition tend to take their time before making an offer. They shop around and thoroughly check the properties that they visit.
Another factor which can affect how fast you can sell your house is the location. There is no denying that certain properties are more desirable than others because of where they are situated.
Houses in established neighbourhoods with excellent amenities or near schools tend to sell faster. Meanwhile, houses along major thoroughfares as well as those located in high crime areas do not attract a lot of buyers and tend to stay on the market longer.
Your property’s price also has an impact on its days on market (DOM).
Basically, the more expensive a property is, the more difficult it is to sell it faster. This is because many of the home buyers out there are looking for affordable, low-priced homes. So, it is important that you correctly set your property’s price at the onset.
Aside from the difficulty of getting buyers, closing on a house may take a while because of complications encountered after the sale agreed stage or during the conveyancing process.
Paperwork-related issues are the most common causes of delay during this stage, i.e., issues with property deeds or titles and missing or incomplete documents.
Things can also get held up because of negative findings during the house inspection such as leaking pipes or faulty wiring. Naturally, these things need to be repaired before the transaction can be completed.
Suffice it to say, there are many things which can prevent you from selling your house fast. However, these obstacles can be mitigated or completely avoided if you work with a real estate agent.
A professional estate agent possesses the knowledge and network needed to sell a house fast. He can come up with strategies which can help you outshine your competitors, no matter what the market condition is.
Furthermore, a professional real estate agent has the experience needed to ensure that the process runs smoothly from start to finish. This includes working closely with your solicitor to eliminate or minimise delays during the conveyancing process. This is highly important since reports show that the number of transactions falling through prior to the closing has significantly increased.
With a professional estate agent’s help, selling your property can be free of difficulties and delays! Of course, for this to happen, you cannot just choose any real estate agent. You have work with one who has a proven track record of rendering excellent service. So, before picking an agent, make sure that you check out reviews or testimonials from past clients.
Need to sell your house in Ireland fast? We have experienced real estate agents who can help you find a buyer immediately. Call us on 01 495 9020 today!