Flat Sale Fallen Through Close to Completion

Crashy_Time

writer5 wrote: »

If it is that one, it seems a bit too cheap for the area.

There are a couple of 2 bed flats being sold in CG there at the moment both at £200 + - one was with the same agent you're on with. And yes, they're under offer close to asking price.

I know there will be a difference between one and two bed, but not £70K worth, surely?

It's a very sought after estate and seems well looked after. I've driven around it many times as I have friends there.

Did all agents value it the same?

Why? House and area looks like nothing special at all ....sorry O.P. Just because people piled into the market and bought anything they could get when prices were always moving up doesn`t mean they will do this with rates rising and prices on the decline? Places like Bristol (and Brighton) are going to get hammered when the realities of Brexit filter through I`m afraid

jimbog

That's a lovely flat - looks well presented

Thrugelmir

ChrissieS wrote: »

The first agents got 11 viewings - no offers. Sacked.

So what did the Agent do wrong?

ChrissieS_2

My estate agents are so vague too. Are they all like this? I've had an offer at the new reduced price and they wanted to pull viewings. I rang back to say I wanted the viewings to still go on until finances are checked and I've had the memorandum. There may be more offers too. I just don't like how sketchy they seem but they have been used locally by quite a few people ... I called to check the time of other viewings booked in and my agent was on the phone but the other one said they thought the viewings were late afternoon. Don't these places keep a central diary? I really don't trust them. Is there much I can insist on with the new buyer to ensure they've asked the correct questions and not fobbed me off?

ChrissieS_2

Thrugelmir - 11 viewings and then nothing at all for a month. I had to move on.

IAmWales

We pay £21.50/month for management and maintenance and have done for the last 6 years.

This rings alarm bells to me, it is very low, even for a small block. Is there any sinking fund, are shared areas well maintained?

ashe

I’d query the price seeing as this one sold in 2015 for £125k http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=52581121&sale=31636509&country=england

It’s same street and is the last 1 bed on the street to sell it seems - your flat is quite nice but do you think you’d rather
Buy one like that and have money left over, or yours? Appreciate two years ago so depends what your local market is like.

Be wary of what agents will tell you for valuations as they want to get you on their books. If you’re not getting viewings, or offers, it’s either the house or the price and looking at your pics it’s more likely the price.

Have you negotiated a lower fee as you’ve moved around to reduce what their cut is?

ChrissieS_2

IAmWales - We get a summing up at the end of the year showing what the money's been spent on. We've had a couple of rebates and a top up, still equating to around £21.50 per month. We're a block of 4 with no shared areas - all separate entrances. We maintain our own gardens but have had a fence strengthened recently and front doors painted. This work was itemised on our yearly bill.

ChrissieS_2

ashe - I used that property in trying to work out a fair price. I thoroughly researched the market locally. It wasn't easy as the area's a mix of older; more characterful buildings, new builds, modern, old folks' flats and a few on my estate to compare with. I also looked at surrounding areas and parts of town with a similar feel and layout + Rightmove to see what had sold and looked similar, taking money off for mine being needing cosmetic updating. The city I live in has been popular and this may have pushed prices up. If I manage to sell, I won't be able to move up to a 2-bed straight away; prices are so high.

writer5

I'm sorry to say that the agents you're with have got a poor reputation locally. I've been involved in helping a few friends/relatives to buy in this area recently and they were hopeless. I also had the misfortune of buying through them. Vague doesn't cover it...

You're right about not rushing into accepting an offer and pushing to keep it on the market.
They only put it online on Monday plus there is absolutely nothing else in the price range that is half way decent, so I think you should hold your nerve. Why not wait until your estate agent friend who used to live there gives his opinion?
Good luck.