Can't sell 1 bed flat in Eastcote, Middlesex

kazzamunga

need_an_answer wrote: »

Perhaps consider changing that to an amount or even worst case scenario offers invited sounds a little more meaningful.

Have you had feedback from any viewings?

Thanks for the advice. When I talked to my siblings yesterday we agreed that maybe our next move would be to go down to say 290 and say OIEO? What do you think?

Literally a handful of viewings - some arranged and then cancelled on the day, etc. No bad feedback, just people viewing a lot of flats, and going elsewhere. A woman viewed it before Christmas and liked it enough to arrange a second viewing, and then cancelled it the day before, etc. I think we've had some bad luck as well as the price being too high.

need_an_answer

OK so your brother is actually living there covering bills and providing you as beneficiaries some income.

Do you actually want to sell this place or hold onto it?

Please forgive my direct approach but it seems to me from what you have posted that there is still understandably a lot of emotion attached to the place given all that has happened.

You clearly have others to consider with their opinions too and I womder if between you,you don't actually want to sell for a figure below a certain amount...that's fine however it may be that that expectation is different in terms of where the current market is.

Perhaps the way forward is to hold it,maybe rent it out or continue with the current arrangement until the market picks up more.

What you cant do is keep going back to what the flat was worth a few years ago...it might regain those asking prices at some point in the future but if now is the time to sell then you may need to be more realistic.

Retired_Mortgage_Adviser

Personally, I think OIEO puts off too many people. Plus the ones that still consider it may still ignore the part which says "in excess of" anyway. I know I would! In your place I would go with OIRO 295k or something similar.

kazzamunga wrote: »

Thanks for the advice. When I talked to my siblings yesterday we agreed that maybe our next move would be to go down to say 290 and say OIEO? What do you think?

kazzamunga

need_an_answer wrote: »

OK so your brother is actually living there covering bills and providing you as beneficiaries some income.

Do you actually want to sell this place or hold onto it?

Please forgive my direct approach but it seems to me from what you have posted that there is still understandably a lot of emotion attached to the place given all that has happened.

You clearly have others to consider with their opinions too and I womder if between you,you don't actually want to sell for a figure below a certain amount...that's fine however it may be that that expectation is different in terms of where the current market is.

Perhaps the way forward is to hold it,maybe rent it out or continue with the current arrangement until the market picks up more.

What you cant do is keep going back to what the flat was worth a few years ago...it might regain those asking prices at some point in the future but if now is the time to sell then you may need to be more realistic.

No, zero income, just not costing anything. I actually just want to be shot of it - I only have bad memories . I think more than anyone my dad wants it to go for a certain price because 'that's what mum would have wanted' or whatever. If we hold onto it my brother will stay there, we won't rent it out, and then either me and my boyfriend carry on renting for another few years or we try to get somewhere in my boyfriend's name, which for various reasons will be more difficult. I'd like to bite the bullet, just wondering whether to do it now or wait another few weeks in case there are more people looking in January and someone likes it.

lundlord

If your brother is staying there rent-free, does he even want it to sell?

kazzamunga

lundlord wrote: »

If your brother is staying there rent-free, does he even want it to sell?

Of course not, but what can you do.

need_an_answer

I've just spotted something on the first picture...

The main door with the broken window pane,has that been fixed?

Whilst I know its a communal thing and not something for you to deal with per se,its something that your management company should have attended to and fixed on behalf of all leaseholders.

If that's the case and the door is now fixed perhaps a new front shot ought to be taken.

From a buyers perspective they need to know that where they are buying into has good provision for the upkeep o communal areas and as that picture stands it may put some off.

If its still like that then I would suggest you contact the management company to raise the issue for repair.

Andysandy

It's the price unfortunately. The kind of naive investors that bought the neighbouring flat for 345k in 2016 are very thin on the ground now so your target market is that much smaller when compared to previous years.

To encourage investors to put in offers, if the charges are reasonable, do consider including the following info in the listing - remaining lease length, annual ground rent, monthly service charge.

sammyjammy

kazzamunga wrote: »

Rental was also something my mum wouldn't consider, ha. I didn't mention that I'm now dividing anything we make between me and my two siblings, so, yeah - it's a 4-way discussion.

Is this after you've cleared the mortgage?

kazzamunga

sammyjammy wrote: »

Is this after you've cleared the mortgage?

Yeah - it was a large deposit.