Home selling - reducing the price

wanchai_2

ruth_b1 wrote: »

Thanks for the reply DMFR. It cost £400 to put the property on the market with this agent but I guess I could make that up if I go with another agent who gets more for the property. I can also try negotiate a lower commission.

I've had 5 viewings. I realise my initial expectations to get in the early £90ks were too much now and I think I perhaps missed out on a few opps because of this. I would accept min. £87k now. A property next door identical to mine but needed lots of work done went under offer just before I put mine on the market and sold for £87k, others have sold for between £84-89k. I guess it's timing. The rent free offer is probably 4 months max (although i may be pushing my luck!) so I guess £4k savings.

No agent can 'get more for a property'. Lower your price, eventually buyers will take an interest and it may get bid up higher than asking. Prices are falling, flats have fallen more than most and are least attractive to buyers. Surely you realise that.

Good luck, I hope that you sell, but it's not the agent, it's the price.

hcb42

ruth_b1 wrote: »

Thanks for the reply I should maybe explain my situation more.

I could sell the flat and move into the other rent free flat for a few months (the rental-free option is available until the spring). I can carry my mortgage to my next property (as my rate is fantastic) and add onto it - I'm allowed to pause my mortgage for up to a year.

Moving into the other flat would let me to save some money and take advantage of well-priced properties that need a quick sale as I will be chain free, etc.

Not sure if I've explained that clearly...!

when you sell the property you cannot carry the mortgage on, you might be able to port the deal, but you will need to pay off the mortgage on completion. Not sure if thats what you meant, but it was worded a little strange there!

webrzq

Good luck !

yangptangkipperbang

Allison_Haskins wrote: »

The market is Scotland is dead in the water until Autumn 2014 and the referendum. No one wants to buy into what could be a McNorth Vietnam.

:rotfl::rotfl::rotfl:............Ho Chi Salmond !

ruth_b1

Thanks for all your comments moneysavers! Ironically, the agent called today with a viewing so fingers crossed :-)