Struggling to sell flat-no offers

AnotherJoe

Sorry my bad I thought you'd had offers.
I still think it comes down to price if you've had 20 viewings and no offers.

I learned some tI ime ago that people,don't really know why they didn't like a place, you
get nonsensical answers such as "didn't have a garage" when it's advertised as not having a garage or "ceilings too low" when they mean "price is too high".

If 20 people viewed it and none made an offer there must be some of them that thought "not worth the money" and worse for you, "what it is worth is so far below what the AP is, I won't embarrass myself by making an offer for what it is worth""

victoriavictorious

What are the service charges / ground rent? If they are high, could that also play a part in putting buyers off, especially if they are also having to factor in a relatively high asking price?
It always surprises me that these outgoings can often represent quite a hefty chunk, yet they are rarely mentioned in flat listings; maybe buyers don't think to ask about them and are only finding out after they've viewed.
Charges / increases are also not going to be in their control, unless it's a share of the freehold, which presumably this is not?
Otherwise, an attractive flat, nicely presented. Like others, I feel it has everything to do with price (and ongoing costs.)

dawyldthing

You are asking far far too much. If you ask for offers in the region of £340k I think you'll get more interest, possibly a few bidding but the last one sold nearly a year ago for £347k so folk aren't going to pay much more than that. Many prob won't put a cheeky offer in as they know you are asking too much. They've told you the price to get you on the books
http://www.rightmove.co.uk/house-prices/N21-1UL.html;jsessionid=5D58BEB4CAB5A5262D20F0FA80AF444E?backListLink=%2Fproperty-for-sale%2Ffind.html%3FlocationIdentifier%3DPOSTCODE%255E3759813%26minPrice%3D325000%26maxPrice%3D425000%26minBedrooms%3D2%26radius%3D0.5

Jox

Didn't the last one sell for £355k?

Pre-Brexit vote one sold for over £400k in 2016, that was the height of the market!

Jane_B

If the last one sold for £355k 7 months ago, why do you think yours is worth £375k ? inflation hasn't risen that much, and from what it seems their second bedroom was a lot more usable than yours.

You have priced yourself so far out of reality that people aren't going to offer, as their fair offers, will seem cheeky/they would be embarrassed to offer so far under the expected price.

I know the area well, and I wouldn't offer more than £350k so maybe price around O.I.E.O £350k so people might bid over that.

Crashy_Time

dawyldthing wrote: »

You are asking far far too much. If you ask for offers in the region of £340k I think you'll get more interest, possibly a few bidding but the last one sold nearly a year ago for £347k so folk aren't going to pay much more than that. Many prob won't put a cheeky offer in as they know you are asking too much. They've told you the price to get you on the books
http://www.rightmove.co.uk/house-prices/N21-1UL.html;jsessionid=5D58BEB4CAB5A5262D20F0FA80AF444E?backListLink=%2Fproperty-for-sale%2Ffind.html%3FlocationIdentifier%3DPOSTCODE%255E3759813%26minPrice%3D325000%26maxPrice%3D425000%26minBedrooms%3D2%26radius%3D0.5

Good advice, get going with the price drops though, before the Italy/Turkey/US/Euro/General Debt Bubble woes force interest rates up.

Crashy_Time

Money_maker wrote: »

This one http://www.rightmove.co.uk/property-for-sale/property-64249867.html ?

Looks like a decent living space, outside has a prison feel though, is this putting people off?

[Deleted User]

The very first question I'd be asking is about the Leasehold / Freehold Tenure, how long is the lease, service charges , ground rent.


Some of these costs on what looks like a newish development can be eye watering and If I didn't like what I heard here you wouldn't get me though the door.

mr_scientist

It's too expensive, it's as simple as that. Speaking from a position of experience the market in London is very price sensitive right now, buyers are wary of overpaying. If you've had 20 viewings and not even a sniff of a offer it's simply down to the price. I'd suggest you lower the price further, you may find that you end up getting multiple offers and sell it above asking, I've seen this happen a number of times recently.

Crashy_Time

It`s definitely too expensive.