Struggling to sell London flat

Owleyes00

I like your bathroom OP 

Mizydoscape

So I understand you have had to have a valuation for the HTB element? And that is the price you are stuck marketing at?

Have you tried talking to the surveyor to get a new valuation (you will have to pay). We had similar with a flat we sold last year (not in London) and managed to get the valuation reduced twice by a significant margin. We used the argument that the property had been marketed at the rics valuation for x months with no interest and they revisited for us. Worth a go maybe?

Exodi

Owleyes00 said:

I like your bathroom OP 

Mizydoscape said:

So I understand you have had to have a valuation for the HTB element? And that is the price you are stuck marketing at?

I think people are beginning to confuse the OP ThirdGuitar with eurostar2002.

The OP has not shared any details about their property.

Mizydoscape

Exodi said:

Owleyes00 said:

I like your bathroom OP 

Mizydoscape said:

So I understand you have had to have a valuation for the HTB element? And that is the price you are stuck marketing at?

I think people are beginning to confuse the OP ThirdGuitar with eurostar2002.

The OP has not shared any details about their property.

Oh right!

[Deleted User]

Yeah sorry and apologies to @ThirdGuitar. Hopefully this thread shows you are not alone in having real issues selling. 

I reckon the HTB valuation would come out at 550k which places an effective floor under my sale price. Most local agents said between 550 and 575 but in truth I would sell for 550. I haven't commissoned a survey for HTB as it is 250 and this flat may never sell so I don't want to waste any more money.

@Mizydoscape that is the best suggestion so far. The only consolation is my monthly mortgage payment is reducing the loss I have made on this flat and I may be able to use the fact it is not selling to reduce the HTB valuation. 

gwynlas

There is a grammatical error in the listing as second bedroom offers access to balcony and description then mentions additional bedroom. Do you really have to sell at this time? Flat does not look dressed for sale in fact a looks a little sparsely furnished and second bedroom furnished as home gym.. If cladding is not an issue then this should be stated upfront as people skimming through Rightmove might not loook beyong pictures.

NameUnavailable

Nice looking flat (I have no idea about prices in that area) but the photos aren't very good - where's a photo of the other bathroom? The parking area? A photo of the 2nd bedroom showing the access to the balcony would be better than an photo of a treadmill.

I would also ask the agent to put your lease details on the website, and service charge/ground rent (assuming they are reasonable!) and yes mention that the building not affected by cladding/EWS issues.

[Deleted User]

@NameUnavailable @gwynlas

I'm afraid I live alone and hate clutter and like things nice and empty. That is how I live. Good points re the cladding - will ask them to add that. 

In London flat parlance a bathroom means an ensuite shower as well rather than there being two physical baths.

Do I have to sell? No but I feel the market isn't suddenly going to rise, selling it will be tough and it is a bit of a millstone round my neck. It will never be easy to sell so now is as good a time as any. Once I take the hit I will invest the equity I have left and wait for supply in the home counties to increase. 

[Deleted User]

Oh and the parking area is rather unattractive and a neighbouring property has builders in  causing a lot of disruption and mess at present so would rather not photograph that as it is likely to put people off. 

user1977

eurostar2002 said:

In London flat parlance a bathroom means an ensuite shower as well rather than there being two physical baths.

I don't think anybody was querying that, just that there is only a photo of the bathroom and not the en suite.