Struggling to sell flat-no offers

tiny_jackal

From the point of view of a house-buyer, what I am now -- it's a lovely flat, but it's slightly overpriced at first sight. Have you got a professional valuation made? Maybe if you lower the price a bit you could entice potential buyers (as others have said).

lisyloo

It's entirely about price - being that it's about twenty grand over what comparable flats in that development have recently sold for.

Do people not bother putting in a lower offer then?

tiny_jackal

The market is stagnating in London, according to the newspapers. I guess buyers need to sniff a potential bargain, in order to be bothered to make a move.

siimmon

Thanks for all the replies so far guys. Really appreciated.

RE: feedback - everyone has been saying they really like the place, and the negative is usually something that's out of our control (one said the ceilings were too low, they're not, but if they've seen something in the original grade 2 listed building with massively high ceilings then by comparison it's going to look lower, another said ideally would prefer a garage, another said they couldn't imagine a double bed in the 2nd bedroom - so now we've pulled out the king size sofa bed on advice from the EA). No one has yet said that it's too expensive - but I suppose all issues can be resolved with a price correction.

The flat's quite new (about 15 years old) and we've lived there for 4 years. There's an allocated parking space, with plenty of visitor bays.

What do you guys think of a change of EA? I'm unsure what they would do differently though - don't mostly all enquiries come via Rightmove or Zoopla? I think it's just strange that there's been no offers, not even a lowball.

Jox

Anthony Charles estate agent in Southgate sold my flat last year, I would recommended them (though it did take 11 months and 4 buyers before we finally got there - no fault of the agent! They were very patient and supportive to us)

Candyapple

siimmon wrote: »

Thanks for all the replies so far guys. Really appreciated.

RE: feedback - everyone has been saying they really like the place, and the negative is usually something that's out of our control (one said the ceilings were too low, they're not, but if they've seen something in the original grade 2 listed building with massively high ceilings then by comparison it's going to look lower, another said ideally would prefer a garage, another said they couldn't imagine a double bed in the 2nd bedroom - so now we've pulled out the king size sofa bed on advice from the EA). No one has yet said that it's too expensive - but I suppose all issues can be resolved with a price correction.

The flat's quite new (about 15 years old) and we've lived there for 4 years. There's an allocated parking space, with plenty of visitor bays.

What do you guys think of a change of EA? I'm unsure what they would do differently though - don't mostly all enquiries come via Rightmove or Zoopla? I think it's just strange that there's been no offers, not even a lowball.

As a buyer, once you don't like a property for whatever reason, why would you put an offer in? It's hard to see yourself living there if you think the ceilings are too low etc.

Your flat looks well presented to me. Mention about the allocated parking in the ad.

Unless you can negotiate a better price with a new EA, don't really see the point in changing.

If you've had 20 viewings, what other feedback have they given you?

thelem

lisyloo wrote: »

Do people not bother putting in a lower offer then?

Depends how much lower. If there's a big difference then people might assume their offer wouldn't be accepted. Other people would feel embarrassed to offer too little.


There's also the question of what you're being compared against. The same flat might have two viewer, one with a budget of upto £350k and the other who could afford upto £450k. For the former, it might be the best flat they've seen so far, but the latter is comparing it to more expensive flats, so is less inclined to put in an offer.

ReadingTim

siimmon wrote: »

RE: feedback - everyone has been saying they really like the place, and the negative is usually something that's out of our control (one said the ceilings were too low, they're not, but if they've seen something in the original grade 2 listed building with massively high ceilings then by comparison it's going to look lower, another said ideally would prefer a garage, another said they couldn't imagine a double bed in the 2nd bedroom - so now we've pulled out the king size sofa bed on advice from the EA). No one has yet said that it's too expensive - but I suppose all issues can be resolved with a price correction.

These sound like the sort of flimsy face-saving reasons people give when they don't think something is worth what the seller wants for it, or they can't afford it anyway. Ask your EA what they'd market it at to guarantee a "quick sale" by a "motivated seller".

ProDave

Bedroom 2 only 9ft 7 into the bay is tiny. A box room at best. The tv sat on a unit blocking that bay window emphasises that.

The wall unit in the corner of the living room is either unusally tall, or your ceilings are low.

hazyjo

Definitely wouldn't put a kingsize bed in that 2nd bed. I think from the description the 9'7 is into the bay which is unuseable for a bed, so the actual room space is really pushing its luck as a double. I would be tempted to buy a cheap small double in that room and hide the sofa somewhere - anyone got a garage you can borrow or rent a small lock up until sold.


Definitely needs a bed as your EA said (not sofa). Get pic of 2nd bed retaken too.


Shame no private garden space. Should imagine a lot of people looking for a g/f flat would want that or they might as well buy more favoured top floor.