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Should We Reduce the Selling Price of Our Flat?
FAB
Posts: 33 Forumite
If anyone has any ideas about about this I would be really grateful.
We have a 2 bed flat in East Croydon, Outer London with a garage with an asking price of £160,000. We have had it on the market for 5 weeks and have had 6 viewings in that time. Our Estate Agent has said it's slow because it's summer and a buyer's market - so buyers are able to see 20 or more flats before deciding - and they are taking their time to make their minds up. We have had no offers but have seen somewhere we would like to buy and have made an offer, which has been accepted so we are obviously keen to sell but we don't want to convey this too much for fear of driving the price down too low. The question is, do we continue at the asking price and anticipate that in September the number of viewings will increase or do we drop the price now and risk people making really low offers? Any advice would be much appreciated.
We have a 2 bed flat in East Croydon, Outer London with a garage with an asking price of £160,000. We have had it on the market for 5 weeks and have had 6 viewings in that time. Our Estate Agent has said it's slow because it's summer and a buyer's market - so buyers are able to see 20 or more flats before deciding - and they are taking their time to make their minds up. We have had no offers but have seen somewhere we would like to buy and have made an offer, which has been accepted so we are obviously keen to sell but we don't want to convey this too much for fear of driving the price down too low. The question is, do we continue at the asking price and anticipate that in September the number of viewings will increase or do we drop the price now and risk people making really low offers? Any advice would be much appreciated.
if i had known then what i know now
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Comments
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Best thing to do is have a look at your competition and what prices they are on at. If you find that your flat is at the high end then it may be worth dropping the price slightly.0
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And 5 weeks isn'yt that long ! Start to think more deeply after 8 or 10 weeks.0
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Thanks very much for such a quick response bridiej. Have been looking at the internet and the flat doesn't appear to be overpriced but will continue to compare.if i had known then what i know now0
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