Anyone else selling a London flat?

lika_86

It's nicely presented, albeit the main living space is awkwardly shaped and the first main photo makes it look small. Personally I don't like bedrooms being just through the wall from kitchen/living areas either if possible but sometimes unavoidable.

I don't know the area but it doesn't feel keenly priced enough to compete with some of the nearby properties for me. There are cheaper properties which benefit from en suites and small houses priced at not much more (although a tiny bit less well located).

ETA: It sounds a bit in the description like you're trying to really sell luxury when in reality it's a nice apartment. I'd rein that back in a bit and also specify service charge if possible, selling on all the amenities may make people wonder about service charge when ground rent is listed but service charge is omitted.

silvercar

So well presented I thought it was the original photos rather than current ones. The only pictures I don't like are where it makes the hallway look long and thin, whereas the plan shows it differently.

I think you need to wait for the right buyer. It's the sort of flat attractive to first time buyers who may be put off by the lack of an en-suite, but you only need one. It will also be attractive the landlords.

silvercar

You are up against this https://www.rightmove.co.uk/properties/134773205 slightly bigger, nearer the tube station and has an en-suite.

There is a lot of competition out there, 51 2 bed properties between 425 and 450k. Unfortunately for you, there will be a lot of people who have been waiting to sell while the EWS issue was being sorted and so there are too many on the market at the moment.

Mr.Generous

sturgeon said:

gwynlas said:

Are you prepared to provide a link for constructive feedback? High St agents should be able to word descriptions to influence viewers to visit your flat as opposed to others, Buyers might see all properties on Rightmove but are not yet convinced that on line platforms offer the reassurance of dealing with a High St agent despite their dodgy reputations. Property is a huge investment and few people as yet would purchase a vehicle from an on line buyer rather than a dealers forecourt.

Sure, the link is here:

https://www.rightmove.co.uk/properties/135075116

Very nicely presented. I think it'll sell if priced right - I have no idea of the prices in London - I'd be buying 4 or 5 flats for that money in the North West.

Sarah1Mitty2

sturgeon said:

gwynlas said:

Are you prepared to provide a link for constructive feedback? High St agents should be able to word descriptions to influence viewers to visit your flat as opposed to others, Buyers might see all properties on Rightmove but are not yet convinced that on line platforms offer the reassurance of dealing with a High St agent despite their dodgy reputations. Property is a huge investment and few people as yet would purchase a vehicle from an on line buyer rather than a dealers forecourt.

Sure, the link is here:

https://www.rightmove.co.uk/properties/135075116

It looks well presented, are you using PropertyLog to see what other sellers are doing?

sturgeon

Thanks everyone. I will flip the photos around so a wider view angle of the living room will be the primary picture. 

I think it holds its own when it comes to the size and quality of the flat vs others similarly or lower priced. For anyone visiting (and obviously getting viewers through the door is key) they’ll see the development itself feels particularly premium in the communal spaces, gardens etc and the amenities including concierge aren’t offered at all (ie the one above for £425k+ which is in an older building). 

I think I need to be patient, which is an issue for me! Just not getting any further viewing requests is concerning, it means I can’t get any proper feedback. 

I’m considering dropping to offers in excess of £445k instead of £450k, it’s a very small difference but at least under the £450k mark. I do need £445k as a minimum really to move on to my ideal property, or a few grand less. Will this make any difference? Who knows, but the lack of viewers is concerning. I’m fairly confident once someone is in the door they’ll see it’s nicer than comparables and the price stacks up.

Not sure why the service charge isn’t showing but I’ll look into that. It’s £300 ish a month, a bit inflated due to the electricity costs this year like all developments so will come back down.  

hazyjo

Are you comparing prices with those that have sold, or with those still on the market? Remember, if the latter, that's prob not much help as they're also the ones not selling.

£5k drop will keep in in the same rightmove bracket, so not much point. People also hate (and usually ignore) offers over, so I'd not try that yet. Some also ignore properties up with online agents.

Give it longer... not really long enough to judge. Good luck.

moneysaver1978

I don't have experience of selling flats but when I spoke a few friends last few months about the house market - there is a a bit of saturation for apartments so there's a bit of competition. Your flat should sell eventually (it's beautiful!) so I would just be patient.

Nath4n

Nice photos, and I agree with the above, don't change price this quickly - especially such a small one that keeps it in the same price RM bracket. Yes you may wish to remove the 'in excess of', particularly as £450k is the FTB LISA price cap creating a bit of a 'no-mans land' on FTB-esque properties between 450-500k. I'd stick to your guns for a few weeks if you're not in a hurry and then assess from there.

Noted re EA fees, I would say due to the lower turnover London EA's are relatively amenable to commission negotiation (sub 1.5%+VAT seems to be increasingly common), as well as contract negotiation (I'd recommend asking for 8 weeks or less exclusivity). £14k fee quotation sounds like 2.5%+VAT fee, which in this market is absolutely astronomical. The core advantage of going with an agent that has similar properties listed is that they can 'bolt-on' viewings for your property with others in the building/area. Speaking from experience, this isn't necessarily the best approach as these will be 'pulled' viewings rather than 'pushed' viewings, but if your flat compares favourably with comparables, then 'pulling' extra physical viewings may be helpful. That approach can result in a fair amount of last minute / late / no-show viewings that has the potential to be unnecessarily frustrating or disruptive vs scheduling your own through Strike, however it sounds like you're encountering similar issues even through this.

CSI_Yorkshire

Nice view of ASDA from the balcony!

The description sounds very try-hard to me, loads about the building and even more about the general area seeming to swamp the actual information about the flat.  I would have thought that someone looking in that area would already know about most of it?  The EA has managed to get almost every property buzzword in as well.  Maybe that's what it needs to sell in London though.

sturgeon said:

I do need £445k as a minimum really to move on to my ideal property, or a few grand less. 

Unfortunately, the amount you need to buy "your ideal property" isn't really related to how much you should ask for the current one.  I agree with the others though, dropping now would look very odd, even if by a small amount.