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Can't sell flat, no choice but to let it, tax issues... :(

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Comments

  • silvercar
    silvercar Posts: 49,974 Ambassador
    Part of the Furniture 10,000 Posts Academoney Grad Name Dropper
    Looking at your link of comparables, your price looks OK. Anything cheaper is either shared ownership, in need of refurb or has zero character.

    Someone will pay to have nice features in a good location. In this market it is just a question of waiting for them to arrive.

    Reduce too much and people will worry that there is something wrong.
    I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.
  • brooky_agb
    brooky_agb Posts: 89 Forumite
    @silvercar Yup, I agree. Lets hope I get a bit of luck and that they don't find my posts on this website! LOL

    BTW... Many thanks to ALL of you for taking the time to read and reply to this.
  • RobertoMoir
    RobertoMoir Posts: 3,458 Forumite
    Part of the Furniture Combo Breaker
    I think the problem might be that people using tools like rightmove aren't even looking in the 1 bedroom flat section because the majority of them are grim, so the few gems that are there just aren't being seen.

    I'm basing that on myself as a FTB searching for property october/november last year - I didn't even look at flats of any size because I knew I could afford a house.
    If you don't stand for something, you'll fall for anything
  • brooky_agb
    brooky_agb Posts: 89 Forumite
    @RobertoMoir so how did you know they were grim when you were looking for houses?! I don't get it. Some people can't afford a house to look for flats.
  • SouthCoast
    SouthCoast Posts: 1,985 Forumite
    From Property-Bee:
    History

    dateevent14 July 2009
    • Price changed: from '£124,995' to '£115,000'
    28 January 2009
    • Initial entry found.
    What are the annual maintenance costs?
  • SouthCoast
    SouthCoast Posts: 1,985 Forumite
    brooky_agb wrote: »
    ... BTW the agent just told me NOT to lower the price anymore and he knows how desperate I am to sell.


    Has the agent got a vested interest in keeping prices of 1 bed flats artificially high to support their own property empire?
  • brooky_agb
    brooky_agb Posts: 89 Forumite
    SouthCoast wrote: »
    Has the agent got a vested interest in keeping prices of 1 bed flats artificially high to support their own property empire?

    I don't know. The service charge is £80 per month. The maintenance company is a big one who does a few large blocks of flats in town, really friendly and not out to sting you. I think the ground rent is about £40 a year... can't remember its insignificant.
  • RobertoMoir
    RobertoMoir Posts: 3,458 Forumite
    Part of the Furniture Combo Breaker
    brooky_agb wrote: »
    @RobertoMoir so how did you know they were grim when you were looking for houses?! I don't get it. Some people can't afford a house to look for flats.

    Have you seen the majority of one bedroom flats, especially new build ones? Yours is an exception to the rule, and not the only exception to the rule either, but the few times I searched for flats in my area I was horrified at the standard of some of them.
    If you don't stand for something, you'll fall for anything
  • brooky_agb
    brooky_agb Posts: 89 Forumite
    Yeah I suppose you are right. Personally I think the majority of stock on the market right now is poor. People with nice places who don't need to sell are not. The house we put an offer on was due to a family death. Really sad viewing it with stickers on things. :(
  • RabbitMad
    RabbitMad Posts: 2,069 Forumite
    If you rent it I doubt you really need to worry about the tax. The mortgage interest on your new place can be offset against the rental income you receive so I'm sure you can structure the situation so that you make a "loss" on the property each year.
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