It seems first-time sellers (FTSs) are feeling a bit like the forgotten middle child in the housing market family.
While first-time buyers get all the love with Stamp Duty relief, FTSs are left grappling with stress, unexpected costs, and a labyrinthine selling process.
Research from Upstix reveals that nearly half of FTSs experience negative impacts on their wellbeing due to selling woes. From surprise costs to last-minute buyer dropouts, it’s a rollercoaster ride many would rather avoid. In fact, a third of sellers would happily knock 5% off their asking price just to dodge the drama!
The stats are eye-opening: 27% face unexpected financial hurdles, and a staggering one in three sales fall through before the finish line. No wonder so many FTSs feel undervalued and under-supported.
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Upstix’s CEO, Frederick Jones, highlights the importance of FTSs in keeping the housing market healthy. They’re the ones making way for new buyers, yet they’re often left in the lurch by a system that doesn’t have their back.
So, what’s the solution? FTSs are calling for greater transparency around selling costs, better protection from buyer withdrawals, and the ability to take legal action against those causing undue stress.
Upstix is stepping up, offering instant online valuations and a promise of a swift, hassle-free sale. But there’s a call for wider change to ensure FTSs aren’t left hanging.
Let’s rally for these unsung heroes of the housing market and make selling as smooth as a well-buttered crumpet!
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