Neighbours' flat for sale - what do you think of the price?

SalsaDanca

Hi,

I'm planning to sell my flat and buy a house closer to work. I don't want to take out a huge mortgage, so I'm saving up a large deposit before putting my flat on the market. I will have a suitable deposit within the next 12 months.

One of the flats on my estate which is almost identical to mine has just been put up for sale (on Rightmove, the postcode is CM9 8BW). What do you think of the price? It's a little higher than I would have asked for, but if it's realistic I might be able to move sooner than I was expecting to.

There's about 100 years left on the lease, and the ground rent and service charges are quite cheap at £100/year and £56/month respectively.

Thanks.

casperlarue

http://www.rightmove.co.uk/property-for-sale/property-38312830.html
.....this one?

The only thing that stands out to me is that it's just over the stamp duty threshold of £125k so they prob won't get any offers higher than that. I have no idea what the area is like or recent sold prices to compare to.

The second bedroom is weeny! Can you get a bed in there? The floor plan is a bit deceptive as its shows the room to be square but going by the dims it isn't.

SalsaDanca

That's the one. Thanks for pointing out the stamp duty threshold - I thought there was an exemption for first time buyers, but it looks like that stopped a few years ago.

My flat has a slightly different layout - the front door is on the right, by the "y" of "hallway" on the floorplan. My second bedroom is 2.3m wide.
I don't know if the measurements on the floorplan are wrong, or my room is slightly wider because my flat doesn't need the second part of the corridor.

motherofstudents

Have you checked any sold prices ? If anything similar has sold recently it will give you a good idea of the value.

noh

The_Cats_Been_Sick wrote: »

Seems toppy given that the heating looks to be storage heaters/electric rather the CH. Plus it's a long way from London, so outside of commuter zone?

That said it's top floor, so you won't get annoyed by transmitted noise from above, the bane of flat ownership.

Thousands of people commute into London from this area, 45 minutes to Liverpool St from Witham.

I agree it won't fetch more than £125K because of the stamp duty threshold but the price is around average for flats of that type in the area.

Fire_Fox

Look at land registry sold prices for the block, street and area not for sale prices.