What should i expect? selling

mike5531

Ok so this is the first time i have ever put a property up for sale, what should i expect? its a one bed flat and its been up for one week should i have herd anything yet i have had no viewings or arranged any viewings i want to move quickly. there are two other flats up for sale in four blocks mine is just under £2000 over their asking prices, but mine is in great condition and needs nothing doing to it, the other two need a bit of work.
am i expecting to much too soon?

telfordwhite

Really depends on what the market is like where you are selling.

In many places there is a shortage of buyers due to interest rates/lack of confidence in the market so you have to stand out from the crowd.

This usually means being cheaper than the opposition,...... significantly. If you're not you are probably in for a long wait.

PasturesNew

Firstly: expect nothing to happen
Then expect a call when you least want/need it - followed by frantic tidying up and disappearing out so the agent can show people round .... who you never hear from again.
Agent will make optimistic noises at you.
Then more nothing..... and more of it

Repeat

Until somebody puts in an offer which will make you laugh

So you'll ask the agent if theirs is a fair offer, is your flat "worth" what you're asking for it. Agent will talk it up and say "yes, it's worth every penny. You're very special...."

Then you'll get: nothing. Or rubbish offers.

This might go on for about a year.

During which time you'll get despondent and twitchy.

But a week's "no time at all" - EVEN in a rising market that might have happened!

It's not ebay!

Doozergirl

If you are on at the right price then you will attract viewings within a week of hitting websites. You will get more viewings in the weekend after you've had a newspaper advert than ones where you haven't.

Personally I would panic if I hadn't had a viewing within 10 days. Especially if you want a quick sale. I have never had to panic.

Your asking price should be based on what is selling in the local area- not on your neighbours asking prices. A fatal mistake of many a vendor.

Question 1: Is it a new build
Question 2: Is it on rightmove?
Question 3: Do you have a weblink?!

mike5531

yes it is on rightmove and no its not a new build, the last time someone sold a one bed flat on the park was the one im trying to sell now two years ago!

heres a link
http://www.rightmove.co.uk/viewdetails-17079818.rsp?pa_n=1&tr_t=buy

pamaris

Wow, Urmston! Just the specific market I have been monitoring for the past 9 months. What I will tell you is that I am in the market for a "starter home" and I would pay the price you're asking for a large 2 up 2 down terrace. Obviously they are not at that price at the moment but I'll wait till I die if I have to... or until our wages double, whichever comes first.

I can't imagine there being much demand in Urmston for a 1 BR apt at 120k. Obviously I think the prices here are bonkers. That is why I am waiting.

I am actually trying to be helpful... I think you should price much more competitively, especially considering there are others for sale in the same block for very close to the same price. Lots of properties are "under offer" around here but tons more are sitting around on the market for months. God only knows what effect this "credit crunch" is going to have on deals that are already in the pipeline.

All that said, your flat looks immaculate.

Basically it is very simple... if you are not getting viewings, lower your price.

pamaris

I just had a thought that may be more helpful... A certain proportion of the population around here is aging, and you are on the ground floor, with hard flooring, so maybe you should get your estate agent to market your flat to OAPs who may be downsizing. Maybe they've thought of that already, I don't know.

mike5531

sorry but with the redevelopment of urmston town center i think you will be waiting a very long time for 2 bed houses to drop to 120k theres on albert avenue for 134k but that is tiny, i know as my friend lives next door.

my flat is in the paper this week if i get no joy i will drop the price

pamaris

Yes it is to be redeveloped but at the moment it is a complete and total dive. I am not trying to be a pain, but if the market is in for a downturn it is better to find out sooner than later. You will lose less that way.

The point I was trying to make was that at the moment there are people like me waiting for prices to return to reasonable levels. This thins out the pool of prospective buyers, so you must work harder to sell.

I really am trying to be helpful... it is just that we are on different ends of the spectrum.

Merton

Make sure you're at least £2k under others in the same block. In a market like this undercut as much as you can. No viewings in a week says it is too expensive for what it is in the current climate. Don't chase the market down.

Doozergirl

Flat looks well presented, nothing there to put me off. Was your EA a child? All the pictures are taken from a height of about 2 feet?

It's the main pic on rightmove that entices people in to look at the other pics and floorplan, so I'd change it from the outside of the building as there are 6 shots of that between you and you neighbours. I think the bedroom and kitchen look the best - if you could get a photo taken by an adult and get a bit more of the actual room in!

Can you spend some time doing some new ones yourself?

Someone else posted a house in Urmston yesterday, I'm sure! (searches) Flixton, 3 bed EOT for £140,000 - wasn't shifting.