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Struggling to sell
Becks12
Posts: 28 Forumite
I own a two bedroom top floor flat in Woolwich. Its been on the market nearly two months, I'm getting a steady stream of viewers but no offers. Its a newish build, internally its in good condition but the communal hallways aren't great.
I tried to post a link but it wont let me as I'm too new, obviously should have posted more and lurked less! Its on for £280k, initially was £290 but I dropped it after a few weeks as I wasn't getting that much interest. Its a two bedroom top floor flat with a loft. Both bedrooms are doubles. Lounge is very big, its bright and airy, views of City airport, quiet as its at the top. Not lift though.
There are a load of brand new properties in the area and they're getting snapped up almost immediately, but priced c. 200k more than mine. There isn't much similar for sale, but those which are tend to be priced similarly but tend to be ex council or a fair old walk from the stations. I'm 10 mins from a zone 3 mainline or zone 4 DLR (soon to be Crossrail) stations. Also ten mins walk from the Thames.
I'm not getting any useful feedback, things like the rooms are too small (the floorplan is accurate) or they don't like its top floor (it says top floor in the ad). Another comment is the lease is getting low which is the main catalyst for selling now. Its on 86 years so its getting low but isn't too bad.
So yesterday, I got a letter from the Management Company saying they're going to be undertaking "major works" on the property but they haven't said how much. I'm guessing its not going to be cheap. Some notes accompanied it from a meeting where minutes say that they're looking at putting an extra £1000 on the service charge per year on top of whatever they're going to be asking for now.
I really want to move, I want a garden and more space. My estate agent says the market is slow and they're getting interest in so no need to drop the price (again) yet. I had three valuations prior to putting it on the market and they all said it was valued 275 - 300.
I don't really know what to do, should I drop the price more? Or will these major works just stop me being able to sell full stop? My service charge is already nearly £2000 a year, if it goes up to £3000 I'm going to struggle even more. I wish I'd never bought a leasehold flat!
I tried to post a link but it wont let me as I'm too new, obviously should have posted more and lurked less! Its on for £280k, initially was £290 but I dropped it after a few weeks as I wasn't getting that much interest. Its a two bedroom top floor flat with a loft. Both bedrooms are doubles. Lounge is very big, its bright and airy, views of City airport, quiet as its at the top. Not lift though.
There are a load of brand new properties in the area and they're getting snapped up almost immediately, but priced c. 200k more than mine. There isn't much similar for sale, but those which are tend to be priced similarly but tend to be ex council or a fair old walk from the stations. I'm 10 mins from a zone 3 mainline or zone 4 DLR (soon to be Crossrail) stations. Also ten mins walk from the Thames.
I'm not getting any useful feedback, things like the rooms are too small (the floorplan is accurate) or they don't like its top floor (it says top floor in the ad). Another comment is the lease is getting low which is the main catalyst for selling now. Its on 86 years so its getting low but isn't too bad.
So yesterday, I got a letter from the Management Company saying they're going to be undertaking "major works" on the property but they haven't said how much. I'm guessing its not going to be cheap. Some notes accompanied it from a meeting where minutes say that they're looking at putting an extra £1000 on the service charge per year on top of whatever they're going to be asking for now.
I really want to move, I want a garden and more space. My estate agent says the market is slow and they're getting interest in so no need to drop the price (again) yet. I had three valuations prior to putting it on the market and they all said it was valued 275 - 300.
I don't really know what to do, should I drop the price more? Or will these major works just stop me being able to sell full stop? My service charge is already nearly £2000 a year, if it goes up to £3000 I'm going to struggle even more. I wish I'd never bought a leasehold flat!
0
Comments
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If you can see the problems then you need to discount your price enough to get someone else to overlook these problems IMO.0
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Edit I think this is the link to the flat http://www.rightmove.co.uk/property-for-sale/property-64290355.htmlDwy galon, un dyhead,
Dwy dafod ond un iaith,
Dwy raff yn cydio’n ddolen,
Dau enaid ond un taith.0 -
Is this the one? http://www.rightmove.co.uk/property-for-sale/property-53703960.html
So happy I don't live in London0 -
davidwood681 wrote: »So happy I don't live in London
Me too, my 3 bed terrace here in West Wales cost me £89,500Dwy galon, un dyhead,
Dwy dafod ond un iaith,
Dwy raff yn cydio’n ddolen,
Dau enaid ond un taith.0 -
*mistaken comment*0
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No, its postcode SE18 5DP. That should help find it.0
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Its right move ID 64290355
2 bedroom apartment for sale
Centurion Court, Rush Grove Street, London, London, SE18 5DP0 -
Dwy galon, un dyhead,
Dwy dafod ond un iaith,
Dwy raff yn cydio’n ddolen,
Dau enaid ond un taith.0 -
That's my point, the rest of the properties on at the same price point aren't great! I obviously like mine or I wouldn't have bought it myself so I am biased.0
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