What will help me sell my flat?

TANZA_2

I have had my flat up for sale for 4 months at £145000. There are several other flats for sale in the block, about the same size and spec as my flat but on the level above and dearer. I have had 4 viewings in all that time. The feedback from the estate agents is that the flat is small. There is no lift and one flight of stairs. Do you think if I reduce the price to under £140000 I would get any viewings? I was thinking of part exing for a new build and the builder had 2 independent valuations, 1 of £120000 and 1 of £130000 so they said. they offered me £140000 in part ex. Do you think they have under valued so they could offer me a low price or is my flat just too expensive? I paid £110000 4 years ago.

Doozergirl

It sounds like your flat is overpriced, as is the new build you are looking at, hence the developers are willing to discount the new house for you (they're not really offering you the best price for your flat).

Apart from flats, what else is on the market near you for that price? A lot of the time it seems that you can buy a two bed terrace house, which are very popular, for the same price.

People saying something is small is them saying they are expecting more for their money. ie. They think it is too expensive.

Whether dropping £5000 will make a difference, maybe, but with only 4 viewings in as many months, I think you're possibly looking at dropping a bit more than that.

Do not be fooled into thinking that the developers of the new build are offering you a good price. They are not. They are out for themselves. You have to look at the cost to you of part-exing versus dropping the price and buying an older house (which is usually cheaper than brand new equivalents)

pickles110564

Doozergirl wrote: »

Do not be fooled into thinking that the developers of the new build are offering you a good price. They are not. They are out for themselves. You have to look at the cost to you of part-exing versus dropping the price and buying an older house (which is usually cheaper than brand new equivalents)

Excellant advice, If you drop your price to a more realistic price and grab yourself a buyer you will then be able to go back to the builders and get a better deal.
However when buying your new place don't settle for second best i.e. remember all the comments that you have on your place and make sure you get larger rooms etc.
Just remember that one day you will want to sell again so you want to get a place that next time will fly out of the EA's door