Real estate is truly a lucrative business but how come some people end up in the losing streak? That’s because they’re committing crimes in the process, albeit not a legal one. These crimes are more like disadvantageous mistakes that lead to financial losses. Be wary because you might be neck deep in the same situation. Take a look at the things you might be doing wrong when putting investment properties for sale UK.
- Bad Photos
Humans are visual by nature and we tend to gravitate to things that catch our eyes. In selling properties, this fact has to be taken to account. Apart from interest, people also pay attention to visuals in terms of information. The use of bad photos will likely put buyers off. Invest in great ones that highlight the features of the asset. Add in a floor plan for good measure. Believe it or not, the simple act makes assets sell fast.
- Vague Description
Provide information in as complete as possible. Expect prospect buyers to ask endlessly. One has to be prepared and it will save a lot of trouble for both parties if the property’s description already contains as much necessary details. When it comes to online listings and ads, this makes them all the more searchable.
- Wrong Information
Apart from completeness, information has to be true and valid. Buyers have their means of knowing and uncovering the truth so there’s no point in lying or sugarcoating things. It puts you in bad light and may even constitute to fraud. This also applies to outdated information.
- Miscalculated Values
When handing out data such as remaining useful life, current market value and depreciation for example, see to it that they have been accurately calculated by a proper professional such as a chartered surveyor. Again, investors will have the property surveyed prior to closing so it’s best to have the values correct from the onset.
- Poor Credit Screening
Of course, only sell to buyers who can come up with their end of the bargain. Find out if they can commit to the responsibility over time and in the long run by taking a look at their creditworthiness and asking about their financing plans. In other words, screen them properly and adequately.
Make sure you’re not doing the same mistakes in putting commercial investment properties for sale! The consequences don’t look good.