The Role Neighbour Plays In Your Home Sale
Harish Chawla, a 47-year-old businessman had put his property for sale. But, three months on he couldn't close the deal even when he came close to doing so twice. He was unable to understand why. He took every step to make the property ready-to-use, ensured that all the paperwork was complete and his asking price was apt, too, for the locality the property was in.
After an introspection he realised that the hindrance was an external factor and that nothing was wrong with his property. The hindrance was his neighbours. A potential homebuyer will always check on the neighbourhood as one of the prerequisites to choose a property. After all this is where they live for years to come. Hence, it becomes important to see if the sale of your property is being hindered by a certain type of neighbours. MakaaniQ lists ways in which a neighbour can be a deal breaker in the sale of your property:
You did everything possible to make your property look presentable and ready-to-move-in for those planning to buy. But, turn to the property next door and you see an unkempt lawn, external walls that have not been painted for years and unclean environment. This could deter the sale of your property. A homebuyer doesn't only look at your property but also the surrounding where they will move in. After all, this is where they are going to live for the years to come. And, who would want to live next door to a property that is shabby?
The potential homebuyer paid a surprise visit to the locality to move around and know how the surroundings are and witnessed that your neighbouring property is rented to a group of youngsters who play music or party late in the evenings. This could be a point of rejecting the property. Some homebuyers are also not comfortable with neighbours that have noisy pets.
A bad relationship
You were living in the property and had a quarrel with the neighbour. A bad experience between the two of you could hurt the property sale. How? When the homebuyer moves for a neighbourhood watch and communicates with the neighbour they might tend to get back and talk bad about you or your property. While the homebuyer is unaware about the equation between you two, it will certainly put them off and even call for a change of mind.
Not just noisy neighbours but no neighbours can also have a negative impact on the sale of your property. Having a property next to an unoccupied property that has been turned into a dilapidated structure over the years can be a turn off for homebuyers. Having neighbours gives a sense of security, hence, an unoccupied property can make a prospective homebuyer feel unsafe.
Also read: What Is A Neighbourhood?