Should I switch estate agent?

Majoggy

It's the price

cymruchris

How did you decide on your price?

[Deleted User]

cymruchris said:

How did you decide on your price?

That's a good question - a lot of flats around that area you can get a nice one for £350k to £400k. I wonder if it is the estate agent's price.

It doesn't matter as the OP will be walking away with approx £150-200k profit as they've bought it in 2013. Nice investment if you can get it.

AdrianC

Can I just clarify that I'm not missing something on the floorplan...



The only "living room" is the tiny little room at the back of the flat?

The photos say otherwise, of course. This doesn't look like a bedroom...

So why is that cramped rear room empty? Can't you fit a bed in the second bedroom...?

Look at the floorplan of that £375k Catford flat that Rott posted on p1.


Yes, it's bigger all-in, 63m2 rather than your 51. But their bed 2 is smaller than your "garden room" - 2.8 x 2.6 vs 2.8 x 2.1.

Samiire

AdrianC said:

Can I just clarify that I'm not missing something on the floorplan...

Really good spot. The bedroom in pics 6 and 7 is the exact same room being shown as a lounge in pic 2. That’s very misleading.

Crashy_Time

holyrottweiler said:

cymruchris said:

How did you decide on your price?

That's a good question - a lot of flats around that area you can get a nice one for £350k to £400k. I wonder if it is the estate agent's price.

It doesn't matter as the OP will be walking away with approx £150-200k profit as they've bought it in 2013. Nice investment if you can get it.

How do you know how much profit they will make, if any?

Grumpy_chap

Crashy_Time said:

How do you know how much profit they will make, if any?

Land Registry data.  Though the profit is usually academic unless exiting the property market entirely.  If your property doubles but so does every other property, it makes no difference - indeed the next step up is probably harder.

nicb

Thanks again to those who have made suggestions and given feedback. It’s all really helpful.

On the floor plan: it is currently set up by tenants with the small room as the lounge. Previously and “normally” the front room is the lounge. The agent has put two sets of photos up, which I see now is confusing. We’re going to ask them to use one set of photos and the “normal” floor plan.

The comparisons to other flats are useful but don’t quite tell the full story. Some of the similar flats at a much lower price are on big, busy, very loud main roads. Ours is on a quieter side street. 

However.... there’s a message about the price coming through loud and clear! We are now going to think hard about our strategy.

AdrianC

nicb said:

The comparisons to other flats are useful but don’t quite tell the full story. Some of the similar flats at a much lower price are on big, busy, very loud main roads. Ours is on a quieter side street. 

So make an adjustment to allow for that when you're comparing. Yes, a main drag will be cheaper than a quiet side street... How much more would you be paying for the location, £10k at most? Or similar price, just easier to sell...?

Crashy_Time

Grumpy_chap said:

Crashy_Time said:

How do you know how much profit they will make, if any?

Land Registry data.  Though the profit is usually academic unless exiting the property market entirely.  If your property doubles but so does every other property, it makes no difference - indeed the next step up is probably harder.

LR is sold prices, this house hasn`t sold.