Struggling to sell flat-no offers

ScorpiondeRooftrouser

If a place is overpriced, you are not generally going to get lowball offers.

Most people looking at a place for £375K want a place for £375K. They don't think about yours that it's only worth £340. They just compare it to all the other £375K ones they have seen and decide it is not as nice, and buy one of the others.

The people who want a £340K place are not even looking at it in the first place; there are plenty of other £340K ones out there for them to look at.

Cakeguts

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



The main problem with this is that it is being advertised as being in Winchmore Hill. I know why they have done that which is because Winchmore Hill is a desirable area. This is not in Winchmore Hill. It is in Oakwood.


You are probably getting viewings based on the fact that for actual Winchmore Hill it is cheap. For where it actually is it is too expensive.



If you want to sell it you will have to sell it for a price that people will pay in Oakwood not what they will pay in Winchmore Hill.

JayRitchie

Cakeguts wrote: »

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



The main problem with this is that it is being advertised as being in Winchmore Hill. I know why they have done that which is because Winchmore Hill is a desirable area. This is not in Winchmore Hill. It is in Oakwood.


You are probably getting viewings based on the fact that for actual Winchmore Hill it is cheap. For where it actually is it is too expensive.



If you want to sell it you will have to sell it for a price that people will pay in Oakwood not what they will pay in Winchmore Hill.

The price would not be out of line for Oakwood if it were in walking distance of the station. It isn't so cant compete with flats which are.

Cakeguts

JayRitchie wrote: »

The price would not be out of line for Oakwood if it were in walking distance of the station. It isn't so cant compete with flats which are.

I can remember them building those flats there. It isn't really close to anything.

Crashy_Time

JayRitchie wrote: »

I think I looked in around 2011. Lots of people will look at the map and not bother viewing - it looks a hell of a trek to a station if you go to London each day. If there is an easy way its best to show.

The OP has to compete with this: http://www.rightmove.co.uk/property-for-sale/property-71338187.html

Probably not as nice and a shorter lease but right next to a station and gym.

Or this : http://www.rightmove.co.uk/property-for-sale/property-62998408.html

Again - far better if one or both of a couple commute into central London.

Ground floor in the first one would put me off, plus it is over-priced, and garden in second one is OK, but still over-priced for what the house is IMO. The problem with the OP`s flat seems to be that a basic flat in an area miles from stations/nightlife? just like hundreds of other new development areas doesn`t rise 150k in 6 years (cue howls of protest from the Price Police) not when interest rates are on the rise anyway.

Crashy_Time

Cakeguts wrote: »

I can remember them building those flats there. It isn't really close to anything.

You try and sell it on what they might build in the future though