Guidance on flat sale , thoughts welcome

wildeep

Was wondering if anyone could offer advice on a house sale process, my head is spinning a bit and has been quite stressful so far. Here's what's happened so far:

1. Listed in Feb this year. Very slow to start with and only two viewings so changed agents.
2. Since April and price reduction (395 to 385) have had around 10 viewings, one second viewing and no offer.
3. Viewing stats on rightmove suggest we have an excellent click through rating but this isn't transferring into many viewings.
4. Downstairs flat which is almost identical layout but slightly more desirable has gone under offer for 385 (it's in slightly better condition, has bigger windows and is one floor down, ours is top floor).
5. Spoke to agent selling other flat, they said they'd only had four viewings in the past few months and implied they'd been quite lucky.

So not sure what to do. It'd be hard for us to get a good enough new property with less than 370.

We do need to move as wife is pregnant.

Not sure what to do though :

1. Move to different agent and reduce?
2. Remove from market for some time and relist in a couple of months at reduced price (some people say properties go 'stale' when they stay on the market too long)

Any input here would be very welcome.

Crashy_Time

Not sure what input from here will make any difference TBH, it is not selling, the issue is probably price? or are there other issues that you can think of?

hazyjo

If you're feeling brave, post a link for feedback.

How many years remaining on the lease?

Is there a major compromise - eg main road, near motorway, pub next door, car park opposite, no parking, etc?

Some areas are very slow right now. August is usually very quiet. It may pick up in Sept as people try to get in before Christmas. It may be that you're overpriced still - what have other similar ones sold for (apart from your neighbour's)?

Top floor is often favoured over ground floor due to noise concerns.

How many beds in your current flat? You definitely won't need to move just yet, and I certainly wouldn't want to be moving when pregnant. Average sale/purchase is around 3 months - how does that fit in with the due date?

Jx

wildeep

Thanks for the feedback . Well I really like our flat but it's third floor and up flights of stairs which has been the reason people have given for not offeeing. So flat only fit for youngish and fit person. Lease is over 100 years. There's no outside space. It's a two bedroom flat and no there isn't massive urgency to move but we would have preferred to move beforehand due date which is now looking Unlikely (end of December)

hazyjo

wildeep wrote: »

Well I really like our flat but it's third floor and up flights of stairs which has been the reason people have given for not offeeing.

Surely they know that before viewing? Which makes me inclined to think there's something they don't actually want to tell you...

ReadingTim

I'd go for the 2nd option: take it off the market and 'rest' if for a few months, then relist with a different agent, photos etc next spring.

Suggest also marketing it at £375,000 - that being one of the rightmove price bands, so a listing at £375k should appear on the first page or two of ads, assuming the viewer sorts by 'highest price' (I know I do...)

Crashy_Time

Reality is that the market and sentiment turned, the media are all over the sort of opinions that would only get aired on little read websites (cough cough) a few years ago. Stay put is maybe your least stressful option now, but getting the push-chair up and down three flights will be annoying?

hazyjo

Crashy_Time wrote: »

... but getting the push-chair up and down three flights will be annoying?

Might be easier with a baby sling. If you have a car, or storage downstairs, use that to store the buggy (if you have a buggy).

wildeep

Thanks for the feedback. Yes we have a car so can store the buggy there.
We had another viewer who also said they wanted a lift. i do appreciate people's comments and thoughts on this.

Crashy_Time

ReadingTim wrote: »

I'd go for the 2nd option: take it off the market and 'rest' if for a few months, then relist with a different agent, photos etc next spring.

Suggest also marketing it at £375,000 - that being one of the rightmove price bands, so a listing at £375k should appear on the first page or two of ads, assuming the viewer sorts by 'highest price' (I know I do...)

I think many people are now sorting by "Lowest Price" and "Most Reduced".