London 2 bed flat. Over 1 week listed but only 1 enquiry/viewing - please critique!

ss2020jd

Time to try a different agent, I would say. 

woodsford

ss2020jd said:

Time to try a different agent, I would say. 

I'm not so sure. I think it is just the market in Balham really.

musehead

woodsford said:

I was wondering if the situation has improved?

Not really.

I'm currently doing some DIY improvements, particularly the kitchen.

I'm probably going to take it off the market for a while, relist with a local agent (who can hopefully market it proactively) and list at a lower asking price - @Crashy_Time will be happy...! Hoping to move out in the next few months, so will probably try to sell after moving out.

AnotherJoe

musehead said:

woodsford said:

I was wondering if the situation has improved?

Not really.

I'm currently doing some DIY improvements, particularly the kitchen.

I'm probably going to take it off the market for a while, relist with a local agent (who can hopefully market it proactively) and list at a lower asking price - @Crashy_Time will be happy...! Hoping to move out in the next few months, so will probably try to sell after moving out.

I would advise against that. A place thats not lived in, especially if beds and furniture, pictures etc  have been removed, can seem cold and unloved and many people (I'd be one of them) dont have the imagination to think what it woudl be like with furniture in place. There's a very good reason show homes aren't just empty shells.

Once you've finished the DIY, I suggest you put it up for sale and let the agent know you will be moving into rental so the chain ends with you.

Crashy_Time

musehead said:

woodsford said:

I was wondering if the situation has improved?

Not really.

I'm currently doing some DIY improvements, particularly the kitchen.

I'm probably going to take it off the market for a while, relist with a local agent (who can hopefully market it proactively) and list at a lower asking price - @Crashy_Time will be happy...! Hoping to move out in the next few months, so will probably try to sell after moving out.

I think you are delaying too long with the price cuts, you needed to exploit the short SD Holiday "boom" and get ahead of possible mortgage rate spikes IMO, just cut the price now and get rid and don`t go the "accidental landlord" route.

Crashy_Time

AnotherJoe said:

musehead said:

woodsford said:

I was wondering if the situation has improved?

Not really.

I'm currently doing some DIY improvements, particularly the kitchen.

I'm probably going to take it off the market for a while, relist with a local agent (who can hopefully market it proactively) and list at a lower asking price - @Crashy_Time will be happy...! Hoping to move out in the next few months, so will probably try to sell after moving out.

I would advise against that. A place thats not lived in, especially if beds and furniture, pictures etc  have been removed, can seem cold and unloved and many people (I'd be one of them) dont have the imagination to think what it woudl be like with furniture in place. There's a very good reason show homes aren't just empty shells.

Once you've finished the DIY, I suggest you put it up for sale and let the agent know you will be moving into rental so the chain ends with you.

This is a London flat we are talking about, nobody cares about that, it is simply over-priced that`s all.

musehead

Apologies for bumping an old thread, but I wanted to provide a conclusion to the story for the benefit of anyone who might come across this thread, or people who responded last year.

After failing to gain much interest, I removed the flat from the market for several months over the summer, after which I listed with a different local agent. In the meantime, I made some DIY improvements to the flat (particularly the kitchen), gave the walls a new coat of paint, and also replaced all the laminate flooring. Spent around £2.5k in total.

Here is the new listing which was added in early September, and can be compared to the original listing in the OP:

2 bedroom flat for sale in Wallace Court Balham High Road Balham SW17 7AT, SW17 (rightmove.co.uk)

There were 7 or 8 viewings during the first week, 2 people made offers, and it was under offer for £472.5k (99.5% of asking price) after 1 week to a FTB. The agent really seemed to make a difference, and perhaps the improvements made a difference too.

The conveyancing process was slow, with a couple of delays, but I eventually completed last week for the full offer price around 7 months after relisting - and about a year since I originally listed!

coypondboy

Will your freeholder/managing agt get an EWS1/PAS9980 if not flats will be hard to sell next year as new fire safety regulations are made law next month.  I am looking to downsize and buy a flat but won't be buying until the block has the certificate and the service chareg reflects this (no section 20's issued or large hike in the building ins).

RedFraggle

coypondboy said:

Will your freeholder/managing agt get an EWS1/PAS9980 if not flats will be hard to sell next year as new fire safety regulations are made law next month.  I am looking to downsize and buy a flat but won't be buying until the block has the certificate and the service chareg reflects this (no section 20's issued or large hike in the building ins).

OP already completed

Tranboy

Isn't the EWS1 form only for flats in blocks over 80m in height..?