Advice on selling

pingu79

I think and outside shot of the flat would look better if it was of the whole building , I presume that is from within a courtyard. Its not a very attractive shot. The bedroom does look small and a little plain in that picture but the kitchen/living room looks lovely.

If you have a digital camera then i'd take lots of shots from various angles and pick ones you feel work best. Some EA photo's i've seen have been shocking.

vodkagirl001

brainiac44 wrote:

VODKAGIRL001

the problem you have is you have been deluded by the 'property hype' on tv and in the media. you paid 99k, why the heck would the next person want to pay 117k when inflation is 2% ??

only sellers believe the stuff on tv.
the picky buyers (as you now see) dont.

the sad fact is, yes you can easily sell your flat - but not so easy to get the free 18k profit. why not stop trying to profit and simply sell the flat and move on with your life.

you say your looking to sell, but i only see a person looking to profit.

Its not up for £117k It was at first for a little while but then its been reduced. I don't watch TV I just listened to the EA's as there supposed to be the pro's so thought I would do what they said that was all.

I'll get a similar outside shot done and yes check all pics and get them re done if there rubbish this time lol. Pingu, Bedroom has been changed round now so hopefully looks a bit better/bigger but we will make sure the pic is taken from the door and not inside the room this time! Your right about EA's and shocking pictures! (oh and yes the pic they have put up is from with in side the court yard the foolish EA's dont know what possesed them!) Oh well only a few more days and there gone lol

auntie_brenda

brainiac44 wrote:

VODKAGIRL001

the problem you have is you have been deluded by the 'property hype' on tv and in the media. you paid 99k, why the heck would the next person want to pay 117k when inflation is 2% ??

only sellers believe the stuff on tv.
the picky buyers (as you now see) dont.

the sad fact is, yes you can easily sell your flat - but not so easy to get the free 18k profit. why not stop trying to profit and simply sell the flat and move on with your life.

you say your looking to sell, but i only see a person looking to profit.

Geez, what a helpful 1st time post......

Since when were house prices linked solely to inflation? The sad fact for 1st time buyers, and all others wanting to move to bigger places, is that house prices have been, and may well continue, to vastly outstrip inflation.

The OP wants to sell her flat, but also wants to buy another place. As this will be bigger and therefore dearer she needs to get as good a price as possible for her place to make the gap between the 2 as small as possible. Greed doesn't enter into it.

PosterBoy77

One thing people should bare in mind is that even with all the hype of 10% increases in house prices last year, these rises took place in only one quarter of UK post code areas. The other three quarters experienced no rises. Unless this property is in an area with rising prices, it could be that it is simply over-priced. Normally any property will sell - at the right price.

Naetha

I know that area quite well (actually worked on Newmason's Victoria Mills) and it really is an up and coming area - it has a lot of regeneration money going into it, but also has a lot of new build / converted mill flats going up in the next 5 years, so although the value of the properties will go up, they will probably be very hard to resell. I don't know the solution to this problem, whether you just have to bite the bullet and sell below market value, or (ideally, but I understand this isn't possible in your case) stay there for 5 or 6 years until there are fewer new-builds up for sale.

barnaby-bear

Naetha wrote:

I know that area quite well (actually worked on Newmason's Victoria Mills) and it really is an up and coming area - it has a lot of regeneration money going into it, but also has a lot of new build / converted mill flats going up in the next 5 years, so although the value of the properties will go up, they will probably be very hard to resell. I don't know the solution to this problem, whether you just have to bite the bullet and sell below market value, or (ideally, but I understand this isn't possible in your case) stay there for 5 or 6 years until there are fewer new-builds up for sale.

I thought new builds have an element of you are paying for the carpets, furnishings etc... so buying at 99k the flat was probably worth less - in which case 20% increase in value seems high. To be honest if I wanted a new build I'd want a NEW new build.

vodkagirl001

Neatha - This is what the new EA has said as well, that with the development of the area, there is so much choice and incentives for the FTB's & Investors on the off plan properties. If we could rent it out and keep it and sell it on in 5-8 years when the re development is finished and the value could have increased a great deal we would, but like you said it just isnt viable for us, so we have to put it on the market now. Were hoping when we put it up at the new price with new pics/description and better EA we will have more look, considering they have managed to shift the ones converted behind the subway/argos for £108 & £110k when there smaller and no parking etc heres hoping lol

barnaby-bear wrote:

I thought new builds have an element of you are paying for the carpets, furnishings etc... so buying at 99k the flat was probably worth less - in which case 20% increase in value seems high. To be honest if I wanted a new build I'd want a NEW new build.

We didnt get carpets or furnishings parsay. Only ''furnishings'' we got were oven, fridge-freezer and washer. Everything else we paid for ourselves on top of the normal price

Oh and thanks for the post Aunti Brenda - Appreciated and you are 100% correct as well :T

cmjb

I know I'm jumping in a bit late here, but I have read quite a few good suggestions for increasing the marketability of your flat.

I was surprised to read that you (and I guess some of the other posters) think a third floor location is desirable. I didn't see any mention of a lift. If there is one, it should be mentioned in the ad. My previous flat was on the second (top) floor, and yes, the view was nice, but it was an utter pain climbing the stairs. I wouldn't want to live on the ground floor for security reasons, but I wouldn't want to live on the third floor either! Some of your potential buyers may feel the same.

I've bought and sold a couple of houses using the same techniques people here have suggested, and you're getting lots of good advice on this forum. Good luck!

vodkagirl001

cmjb wrote:

I know I'm jumping in a bit late here, but I have read quite a few good suggestions for increasing the marketability of your flat.

I was surprised to read that you (and I guess some of the other posters) think a third floor location is desirable. I didn't see any mention of a lift. If there is one, it should be mentioned in the ad. My previous flat was on the second (top) floor, and yes, the view was nice, but it was an utter pain climbing the stairs. I wouldn't want to live on the ground floor for security reasons, but I wouldn't want to live on the third floor either! Some of your potential buyers may feel the same.

I've bought and sold a couple of houses using the same techniques people here have suggested, and you're getting lots of good advice on this forum. Good luck!

hi, yes everyone has been a great help haven't they. My partner thought I had gone mad when I got him to remove the TV and everything, then the same weekend had my dad there moving my bedroom arround, and filling the holes where the TV was, and I got a flat pack unit from Argos to build up - I blammed it on the nesting at over 30 weeks pregnant lol I think he was just happy he didnt have to do it.

Oh and yes we do have a lift (which I use daily lol) so I will specify that in that add as you are correct (and I only thought about this last night) I was looking at a set of new builds with 3 floors not far from us and they specified No lift and stairs and I thought ''urgh I could't have that, especially if we had just been shopping and had like 10 bags of shopping to lug up there as well'' so you are right that others may think the same, so I will deffinatley get a lift mentioned in the description!

Thanks for the tip mate!

callmelinda

It's gone 4am and I'm full of questions (mainly in relation to 1st ea but if time elapses, relevant again with forthcoming one I guess)

1) How many agents did you get to value your flat before you went on the market originally? If more than one, what did each value it at at the time?

2) Have you had weekly contact with your agent asking about the market and whether there have been calls for properties like yours? What have their suggestions been, any feedback from them at all?

3) Have you or your friends called the agent to see if they're doing their job right - mystery shopping?

4) Has the agent made an effort to get the property in the local paper?

5) Have you been checking out your competition, going to view similar flats etc?

6) When you've had viewings, did the agent show the person around? I only say this because if you're close to due date, it's not the batchelor pad image you may expect coming to view the house. A greased up agent might sway the lifestyle more if it's a single guy coming!

7) Have other properties in your block been sold in the last 6 months? If so, how much for a similar one?

Sometimes by going through the above you can see how hard your agent is pushing you and determine for yourself why you're not getting enough viewings or the right kind of viewings.

I don't know the area but from all the mentions of new builds, could you just be unlucky that there is far too much newer build competition out there at the moment and what attracted you to buy brand new also attracts much of your market you now want to sell on to. Also, even though some properties may be 10k-20k higher, if they're new do they offer rewards to the buyer (like cash back, choice of fittings, but 50% and rent weekly etc)? The developers have an advantage with what they can offer to entice people over someone owning a similar property of 18 months of age.

Don't most new builds come at a premium and so was the initial price you paid slightly false in real terms?

Lots of things to consider. All I can say is that you seem to have kept the property very well and it looks a credit to you. The outer block photo was dreadful and the one recently posted looks much better - keeping things minimalist and clean inside is sure to appeal to your buyer.

I would be tempted to make sure the photo of the bedroom is exceptional - maybe ask to go through the choices before it goes online again. It's a one bed, it's essential it looks good. Anyway, do as much quality control before anything goes online... you should have to sign off on the brochure anyway so if you're not happy, write exactly what you want said and instruct them when you send it back. If the description and pictures look like care's gone in, you'll at least stand a better chance than what that first agent has done with those photos and the lack of effort in the wording! Where does the train station in Shipley go to in terms of major cities... it's ok saying close to local transport, but a guy who can't afford a pad in a bigger city might be attracted to other areas close with train links to his.

A fresh push and agent might well help so good luck to you.