Mr. and Mrs. Yusuf had embarked on a life-altering journey to relocate abroad, meticulously liquidating their possessions in preparation for the move. Yet, an unsettling predicament stood in their way like an insurmountable obstacle—their cherished house remained unsold. Despite their best efforts, potential buyers seemed disinterested, beset by a litany of concerns. Whether it was the house’s location that failed to meet their expectations or the haunting whispers of its history that deterred them, no offer materialized.

Exhausting every conceivable avenue to find a suitable buyer proved futile, leading the Yusufs to make a pragmatic decision—to lease out the property, a solution that offered some financial relief, albeit falling short of their initial expectations. This experience underscored a sobering reality: the world of real estate, often perceived as straightforward, can, in fact, harbor unforeseen challenges that render even the most attractive properties undesirable.

Their story serves as a poignant reminder that selling a property involves a myriad of intricacies, where myriad factors intertwine to either propel a transaction or relegate a property to redundancy. The Yusufs’ fortuitous resolution of leasing their house presents a stroke of luck that not all might encounter. The capricious nature of the real estate market dictates that while one might navigate these hurdles successfully, others may find themselves ensnared by the complexities of the industry, yearning for a fortuitous escape like that which the Yusufs secured.

1. Location

Location cannot be dismissed when it comes to a property. If the location of your property does not look like it could gather many prospects, potential clients get turned off. Properties are meant to bring in more money and if your property does not seem to fit into an investment that can make a profitable turn over because of the location, it loses value.

2.Physical situation of the property

This is so important if the buyer does not intend to demolish the structure but to just refurbish it. An unattractive, unmaintained and physically looking damaged property will put people off. People don’t want to buy a not so old property to live in looking like a home that has been deserted for decades.

3.Spiritual sentiment

Let me tell you the story of a house I used to know. This house in one of the south-western states was believed to despise women getting pregnant. Why was it so? Any woman living in the house that got pregnant always had frequent miscarriages. At a point, the house was given a bad name and people had to avoid it. 

Spiritual sentiment cannot be overlooked in this part of the world. Some houses have been reported with cases of metaphysical control and no investor wants to buy a property with baggage, so such houses may likely find it extremely difficult to get a buyer.

4.Unpleasant history

Unpleasant history such as a messy fight over the property, court case, fraud, kidnapping, someone getting murdered on the property, etc. can be a huge stumbling block to getting an investor or buyer for such.

5. The kind of people living in such an area

One of the important things to look out for when buying a house is the people living there, i.e., your neighbors. Unfriendly, lousy, or too deeply diabolical neighbors are a huge turn-off for anyone that may be interested in any property. It’s difficult to find people who can cope in such an environment. It is likely to be a hindrance to selling that house.

6. It’s too expensive

The price of a property should match the value it brings. A property with great potential tends to be sold at a higher cost because of what the buyer would eventually gain from it. You can’t compare a property located in the heart of the town to the one in a corner far away from town? Their potential values are not the same, hence, their financial implications.

7. You are focusing on the wrong target audience

Your property type depends on your target audience and this matters so much. You can’t possibly expect an unmarried person to be interested in a home meant for a family of seven. Unless on rare occasions when the person wants to buy the property to live with parents and siblings or wants to resell or convert it into a business place.

Dennis Isong helps individuals invest right in Real estate. For questions on this article or enquiring about Real estate. Email: Dennis@Landproperty.ng or Whatsapp/Call +2348164741041