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Is it a red flag when a property takes a while to sell?
Comments
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Convenient timing?AdrianC said:PropertyLog browser plugin.
It's stopped putting it on the property page since their redesign - hopefully temporarily - but it shows it in the search results.0 -
Their hopes and need to claw money back are more or less irrelevant, a smart buyer ignores the financial position the seller has got themselves into.NinjaTune said:It's a lovely maisonette and it's freehold which is a bonus.
Vendors have already dropped the price significantly and will be unwilling to go lower for a while yet. It's for offers over 580k so they are clearly still hoping for a higher price. The blurb says it's been refurbished so I'm guessing the vendor is looking to claw that investment back which could be why they are unwilling to go below a certain level.
If you have your heart set on it then offer the maximum you are willing to pay and let the EA know that it's your final offer.1 -
Panic ye not, Chicken Little.Crashy_Time said:
Convenient timing?AdrianC said:PropertyLog browser plugin.
It's stopped putting it on the property page since their redesign - hopefully temporarily - but it shows it in the search results.
It's working again now.4 -
Crashy_Time said:
Their hopes and need to claw money back are more or less irrelevant, a smart buyer ignores the financial position the seller has got themselves into.NinjaTune said:It's a lovely maisonette and it's freehold which is a bonus.
Vendors have already dropped the price significantly and will be unwilling to go lower for a while yet. It's for offers over 580k so they are clearly still hoping for a higher price. The blurb says it's been refurbished so I'm guessing the vendor is looking to claw that investment back which could be why they are unwilling to go below a certain level.
If you have your heart set on it then offer the maximum you are willing to pay and let the EA know that it's your final offer.
I fully agree with you, Crashy - just saying why the vendors may not be willing to drop the price again just yet (or, indeed, at all). I didn't say that the vendors were being realistic if that's their motive.0 -
1122abc said:I’ve been looking for a 2 bed flat in SW19 for a while with a max budget of around £580k. I’ve offered on a few properties but have rapidly been outbid. I found an ideal property (81814699 Rightmove) but it’s been on the market since mid-late July. The location is so perfect for me. It was initially £625k but the price has now fallen to £580k. Quite a big drop I feel. Viewing the property in person, I feel that it’s worth £550k but I was advised that this offer will not be entertained....and it wasn’t. I’ve heard that several offers have been rejected, none have moved forward in anyway. I suppose I could offer £580k but is it a red flag if a property has been on the market for a while? Also, what’s with the huge drop - might there be a structural problem?
They purchased this property 2 year ago for £547k, not sure if its been recently refurbished, if so they've probably factored that in so around the £580k is probably what they want to sell for to cover the costs? Also ask why they're looking to sell only 2 years in?
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Any tasty nuggets of price droppings?AdrianC said:
Panic ye not, Chicken Little.Crashy_Time said:
Convenient timing?AdrianC said:PropertyLog browser plugin.
It's stopped putting it on the property page since their redesign - hopefully temporarily - but it shows it in the search results.
It's working again now.0 -
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Crashy_Time said:Less then 10% off the original asking price, and the property has sold.Mine was valued between £150k and £170k by 3 different EA's.Sold for £165k after I put it on at £170k.So is that a 15% increase, a 3.13% increase or 2.94% loss in your eyes?0
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Let`s see if it actually sells, or pops back up like a character in an 80`s horror movie.powerful_Rogue said:Crashy_Time said:Less then 10% off the original asking price, and the property has sold.Mine was valued between £150k and £170k by 3 different EA's.Sold for £165k after I put it on at £170k.So is that a 15% increase, a 3.13% increase or 2.94% loss in your eyes?0
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