Reduce price?

katie1234

Hi,

Have had my apartment on the market for 6wks now an have had 2arranged viewings that both cancelled, 1very last minute. Other than that no interest.

It is priced exactly the same as other apartments nearby some not in as good an area or as good condition. Some in other areas agin not as good are even priced higher.

there have been 2apartments in my block sell in the last 5mths one within 2weeks and one took around 3 months. Mine is priced lower than they were and at the same mark they sold. It wasnt on the market at the same time however and is in better condition than they both were.
I am very impatient however and pretty desperate to move. Without going into detail my FIL is ill and needs live in carers so this 2house situation is not working.

It is the only apartment in this block for sale at present but this could change soon as we know of one landlord who is planning to sell in 6months.

Question is should i reduce the price now? and if so, how much? Its on at £94,995. I understand noone knows the area or property but as a starting point what would you suggest?

Thanks.

Salz

If you are feeling brave, post the rightmove link, and we will be only too happy to give suggestions to improve photos etc

Better_Days

The important thing is what properties similar to yours nearby have sold for, not the price they are marketed at. May be an idea to do some research via the internet so you can get a feel for the local market.

Did you get more than one agent to value your property? Some agents value high to get the business. If you get at least 3 valuations (without telling the agents what their rivals have valued) then you will get a better idea.

If you do feel brave enough to post the RM link you will most probably get some more detailed advice.

Good luck with your sale.:)

katie1234

Sorry not brave enough to post a link!

We have it up for sale just slightly less than the others sold at but with the option we could drop another 10% if you get what i mean.

Im worried if we drop the price to what we expect to sell for, will buyers still expect another 10% off the asking price?

steve1980

Without knowing anything about the property it's a bit difficult to help!

Reduce it by £10k and see what happens. What is your estate agent recommending? They will have a better idea than a forum full of strangers that doesn't know what the property looks like.