Trying to sell a concrete flat

gandhim

I'm trying to sell my concrete flat. It's on the 10th floor and is 1 bed. It's difficult to sell the flat on the open market and it failed to sell at auction. Does anyone have any ideas/suggestions or names of housing associations who buy concrete flats in London?

G_M

Offer it to the local authority. They probobly built it.

Running_Horse

Just out of interest, how did you raise a mortgage?

dander

Properties that are of non-standard construction are very often sold at auction. That's where a lot of cash buyers who don't need to worry about mortgages hang out, so it might be worth considering.

westv

dander wrote: »

Properties that are of non-standard construction are very often sold at auction. That's where a lot of cash buyers who don't need to worry about mortgages hang out, so it might be worth considering.

Apparently it failed to sell at auction.

OP is it on Rightmove?

gandhim

I bought the flat 9 years ago on the open market for cash.
I tried to sell at through an auction 4 years ago but it didn't reach the reserve price so it failed to sell. I want to sell it this year.
what are my best options considering the current housing market?

Cannon_Fodder

Go back to the auction. Do not set a reserve.

What attracted you to it? Highlight the same factors.

Or clone yourself, build a time-travel machine so you can send your other self back a few years to earn some cash, they buy from yourself for cash.

BitterAndTwisted

You have a number of issues which would make your property less attractive to buyers: one is that it is concrete-built. Two is that it is on the 10th floor, so a lot of mortgage companies will not lend. Thirdly it is a one-bedroomed apartment and these would only be attractive to first-time buyers who inevitably would most likely need a mortgage. Fourthly it was most probably a council-built development and these are avoided like the plague by a lot of buyers because of heinously expensive service-charges and refurbishment bills

When_is_the_reset?

Try googling 'demolition specialists'.

I am sure one of them can help and it shouldn't cost you too much.

Running_Horse

In 9 years even a concrete flat should be worth more than you paid.

Drop the reserve and choose a busy local auction room.

BitterAndTwisted

It appears that your only options are to offer to sell the flat to the Local Authority or to let it to the Local Authority to house someone on the waiting-list. Being a one-bedroomed flat reduces your options as most local authorities have very long lists of families and most of them will not even bother putting single people on it as their chances of acquiring social housing are so remote as to be non-existent but they might have one or two alcoholics or drug-addicts waiting to be housed.