Can't sell 1 bed flat in Eastcote, Middlesex

BelowTheLine

Of course! It was first listed barely 2 months ago, it's hardly stale yet, especially given the time of the year it was listed at!

Reduce it to 295 and give it another month or two at least before giving up.

All the best, hope it sells soon and you can carry on with your life.

kazzamunga wrote: »

I suppose there's no harm in dropping it to 295 first though? The worst that can happen is that we don't accept the offers if they're crap, and then take it off anyway.

need_an_answer

BelowTheLine wrote: »

Of course! It was first listed barely 2 months ago, it's hardly stale yet, especially given the time of the year it was listed at!

Reduce it to 295 and give it another month or two at least before giving up.

All the best, hope it sells soon and you can carry on with your life.

Sorry I read the OP opening post as the property has been listed for sale since August 2019,so not new to the market 2 months ago.

getmore4less

Who was/is down as the legal and beneficial owners before and after mum died.
Who is on the mortgage?

If people not on the mortgage are paying it via you there will be income tax implications.

burtbot1

Sorry about your Mum. Hope you're doing OK.

Firstly - dropping the price to £295 is a good idea. remember, people search on Rightmove in price brackets. Anyone looking up to £300k will not be seeing yours. (Do not put OIEO though. I would just list the price at £295 and see what happens)

Secondly - can you change agent? For a fresh approach, if nothing else. And defo add the lease info etc to the listing, that's really important.

Lastly - People are very often put off when there are tenants in situ. It can be hard to evict them etc, so if someone has a choice of two places, one without tenant and one with, they will go for the tenant-free one everytime. Can you get your brother to move out?

gomer

I have family in Eastcote & know the area well. This wont be what you need to here but before i even looked at the link my first thought when i opened this thread was - £305k for a 1 bed in Eastcote? Seriously??

It would appear a little unrealistic from what i know of the area. I think you need to consider dropping the price if it's ever going to sell. I just don't see you getting what you are asking for it anytime soon.

Yalpsmol

How much is your dad hoping for? Would you be willing to make up the difference and be done with it, so you can move on with life (i.e. get your own place with boyfriend). Can you afford to? Hopefully they'll realise how serious you are and sell anyway (refusing to take your money) but its an option.

RelievedSheff

I think that the pictures make the flat look smaller than it actually is due to the amount of furniture and clutter lying around.

Can your brother not box some of this up and store it at your fathers house until until the flat sells.

The flat needs to be presented as having lots of room and storage for it's size but currently it just looks bursting at the seams which will put potential buyers off.

Also your estate agent has completely pitched the price wrong. You need to be under the £300k stamp duty threshold to entice the first time buyers that this flat should appeal too. Don't mess about with OIRO or OIEO just set a realistic price.

kazzamunga

gomer wrote: »

I have family in Eastcote & know the area well. This wont be what you need to here but before i even looked at the link my first thought when i opened this thread was - £305k for a 1 bed in Eastcote? Seriously??

It would appear a little unrealistic from what i know of the area. I think you need to consider dropping the price if it's ever going to sell. I just don't see you getting what you are asking for it anytime soon.

That's fair enough, but genuinely, they've been on sale for 320-335k for the last 4 years - I didn't pluck the figure out of thin air, I chose it based on estate agents' advice and my knowledge from regular Rightmove visits over the last 4 years.

RelievedSheff

kazzamunga wrote: »

That's fair enough, but genuinely, they've been on sale for 320-335k for the last 4 years - I didn't pluck the figure out of thin air, I chose it based on estate agents' advice and my knowledge from regular Rightmove visits over the last 4 years.

What are the actual sold prices of one bed properties in the area for last year?

kazzamunga

RelievedSheff wrote: »

What are the actual sold prices of one bed properties in the area for last year?

In the area or on that estate? They are two different things. There is an estate across the road, for example, where the 1 bed flats never go for any less than 340, even though the area average is lower, since it has underground parking and large square footages, so shouldn't be directly compared to small flats above shops and flats in crappy cul de sacs and flats next to railway tracks, etc.

So yes, I know that the area average has fallen since 2016, and clearly the desirability of the estate has fallen since then. But I don't think it should be randomly compared to any flat in the general area, when it has historically been chosen as a safe and well maintained and nice-looking estate.