is now a good time to sell my flat?

Euphoria1z

Hi

just looking for some opinions here. Im relocating to england and cant seem to decide on whether to sell my 3 bedroom newly built (bout 7-8 yrs old) flat or keep it and rent it out. Ideally i would like to keep it but financially it makes more sense to sell it as id have some money (hopefully) to help with my move (to leicester).

anyway, if you were going to sell, would you sell now (i.e coming close to the end of the year, winter approaching, xmas in a few month time) or would you hold of till next year first quarter, say around march april.?

I read somewhere property tends to sell less towards the end of the year and picks up around spring.?

Also, if you bought 3 yrs ago for 165k, how would you market it? the flats in Edinburgh (EH21). Should i expect to get what i paid for it? should i go offers over 165K? or should i be more optimistic and go for a fix price 180K (or offers around 180K?)

Opinions? (as I cant seem to decide)


Thanks

firstaspect

It's not the best time to sell in the current climate however it may be a long while until it is a really good selling market again. If you bought 3 years again in 2007 then you bought at the peak of the market so it's unlikely you will get what you paid for it. You can get free valuations done as that may help you with your decision on if to sell or not.

Euphoria1z

Thanks.

how do you get free valuations done? If you are going to sell in any market, is it better to sell at the end of the year (winter) or beginning of the year (spring)

reissgirl

I would call at least free local estate agents for no obligation valuations and quotes.

Spring is definitely the best time for selling, March onwards.

googler

Your pricing strategy should be tailored to the valuation in your Home Report - you can't market the flat without one.

Offers Over is dead apart from specialised properties, due to the valuation appearing in the Home Report, and the buyers' lending being based on that valuation. Most properties go on at Fixed Price or Offers in Region of, with the target figure being equal or close to the HR valuation.

Registers of Scotland figures just published for July show that there were half the number of sales in Jul 2010 as there were in Jul 2007. I'd suggest that all previous time-of-year trends will be less apparent with less sales.

If your flat is in EH21, it isn't in Edinburgh.

Has any similar property to yours sold since you bought? Check Zoopla or OurProperty sites for SOLD prices (not estimates) in your street, development, or area to get an idea, and call round local agents for their view on what the Home Report valuation might be.

googler

Euphoria1z wrote: »

how do you get free valuations done?

You have two choices - since a surveyor will be carrying out the survey for your Home Report, you can ask one for a valuation, which you'll pay for, and then if you get the same surveyor to do the HR, you'll know what to expect. Alternatively, get a few local agents to give you free valuations in the hope of getting your sale, and take a view from these. Not guaranteed that the HR surveyor will agree exactly with them, but should be close.

And as I said above, you can figure out what you think it's worth by looking up the property price sites, and seeing what's sold and what it sold for.