Cant sell - help!

fairy188

Our flat has been on the market since April with two different estate agents, we have jsut signed up to a new agent and are having the same problem with selling, everyone says they like the flat but are we are getting negative feedback all the time
Can anyone help we are desperate to move as we have found a house we like.

ILW

Too expensive, you have been told that but seem to be in denial.

nembot

I'd be tempted to check what similar properties sold for http://www.nethouseprices.com/ etc. If there's no buyer interest, it's possibly priced to high.

I'm not really familiar with the market darn sarf, maybe others can point you in the right direction.

WestonDave

One problem you face is that there is another 1 bed flat on the market just down the road, with better size/shape rooms and allocated parking for offers over £160k. On that basis yours is probably £15k too expensive for the market and needs to drop in price or wait for the competing property to shift first.

Doozergirl

http://www.rightmove.co.uk/property-for-sale/property-27179227.html

The pictures are terrible, they aren't even in focus. This is £175k we're talking about spending here. If it was a £175,000 car, you can be sure it wouldn't be marketed like that! I was thinking randomly yesterday that if I sold my car on autotrader then it might be worth possibly paying someone to take really nice photos of it... (and my car isn't worth £175k!)

Have you just changed agents as well? My property bee shows you being on since 9th August?

I can see that it has been done nicely but that's partially because you've told me that, not because the blurry pictures portray it correctly. New pictures please and remember we're selling a lifestyle here - blurry photographs don't help. You're probably going to pay Bairstow Eves a fortune in commission - countrywide are the most exp agents in my area.

How much is the service charge? It will make a difference to people.
How long is the lease - I noticed that the one that is SSTC is being sold with the benefit of a new one.
http://www.rightmove.co.uk/property-for-sale/property-15121416.html

Quite a few in the immediate vicinity of yours being marketed for £160-170k. If you are prepared to accept £170k then I'd personally drop the price to that as the idea of buying an identical flat to yours for £160k and giving it a makeover myself would be preferable to me as it shoudn't cost £15k (or indeed £10k ) to cosmetically update a one bed flat...

westv

fairy188 wrote: »

• its too far from the station (its a 10 min walk to the Central Line in London 20min tube journey to Liverpool St) and also :mad:close to all shops and amenties
• there's no parking ( parking is on a first come,first served basis with the option to rent a garage if need be)
• its too pricey for the area
• the ground rent/service charge is too high

1.Google shows the walking distance to the tube as 1mile. Hardly close
2. Where in your Rightmove advert does it mention about the garage renting option and how far is it from the flat?
3. Then others must be cheaper
4. How much are they then?

fairy188

Hi guys thanks for your suggestions in answer to your questions we went on with Bairstows this month prior to that it was on with Haart different pics but i dont have those anymore.

I agree the pictures are not great quality so will prob get those changed.

The service charge is £120 a month.

The lease hold is 82 years and can be extended if needed.

The flat in Lynwood close for £160 is a studio flat.

fairy188

hi there WESTTV

it doesnt mention in the advert possiblity of renting a garage so I shall be adding that to the advert.
The garages are in the same close but at the bottom.

I walk to the train station every morning and it takes me 10 mins so I guess thats a buyers choice.

I cant help the service charge but this does include buildings insurance and looking after the communal ground and communal building.

Any other suggestions I appreciate your comments guys, some are a little harsh but I think thats what we need to hear at the moment.

shortchanged_2

I don't know the London market but all I can say is don't believe all the bull going around that the housing market is stabilising.

It is definately a buyers market at the moment as the number of sellers is far outweighing the number of buyers so the market will continue to decline.

This combined with the volatile market and the cuts that are ahead everyone is panicking and feeling the pinch. Result, people are certainly being very cautious (wisely) about spending at the moment.

Sorry about the doom and gloom but we are heading back into recession and you may well have to drop your price further if you are desperate to sell.

WestonDave

This was the one I meant - http://www.rightmove.co.uk/property-for-sale/property-15281979.html?premiumA=true - OK its less well presented than yours but as Doozergirl says its prefectly possible to tart this one up for a lot less than the £15k price difference. The other point is if there is another 1 bed flat SSTC at £160k then this is clearly what they are selling for and you will not get a sale unless you are nearer that price point - the allocated parking space in itself probably offsets the better condition of yours given that you have no certainty of available parking without extra expense.

fairy188

Have just sent an email to the estate agents to drop the asking price to £170, have asked to include in the listing:

83 years remaining
option to rent a garage

Have also asked them to re-take the photos.

Hopefully this will be a step in the right direction.

Thanks for all your responses, much appreciated.