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Sticky situation!!! Please help!
Comments
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Just discovered the full brochure link!!! maybe thats part of your problem get the agents to load these pictures without having to go through this link! Maybe a few punters are also missing spoting it too
Just noticed my post count was 666:eek: , no wonder I was having problems:D !!!!
AMDDebt Free!!!0 -
there are some good comments. The EA has been terrible. They wanted the business and they gave us a high valuation and we fell for it! :mad:
The only reason why we are still with them is that we have not decided what to do yet and we do not want to pay for a HIP (when we put the property on the market back in November we did not need one).
There is no arden with the property so it will appeal only to a couple, buy to let, certainly not families.
I must say there are alot of property for under £140K, in different streets but the point is, why would somebody want to pay £140K , when they could get somewhere for less and perhaps even a little house?
I understand that but I am still to starting point!
Anyway I have spoken to EA and lowered the price tro £129,950 and really see what happens0 -
Not every family can afford a garden. It's better to be a bottom end three bed than a top end two bed because if people need three bedrooms but have a low budget, the choice is FAR more limited than the choice of 152 under £140k if you only want 2 beds. Three bedrooms maximises the space available = the square footage becomes more valuable.
There are plenty of three bed flats under offer around the £135k mark.
On the HIP front, as long as the property is continuously marketed, you still will not need a HIP. ie. New agent commences marketing as soon as contract expires with your old one.Everything that is supposed to be in heaven is already here on earth.
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you've lowered your price from £149k to £129k - I would get the estate agent to lower their commision!
if not, then give notice and go with someone else. As another poster said, try to get 1% + VAT - this shouldn't be unreasonable.
And whatever you do, you should at least get more photos put up on RM and room sizes. When I look to buy, one of the big selling points are the room sizes. You shouldn't have to click a link to the agents site to have to see this! Just my opinion....0 -
Yeah, many people don't realise there's a brochure.
I demand to see all photos and room sizes and everything all on the first RM page that loads ... after all, if I am looking to buy a property I've hundreds to choose from and I'll start with those that immediately grab my attention by giving me the information I am looking for.
1] What it looks like
2] Room sizes
At that point people will stop reading... so if all that info is locked into a brochure then you're alienating a lot of your target audience before you start.
As lovely as anybody's house might be, if your agent has made it harder for potential buyers to get at the information than other agents/property details are... people will move on.0 -
pizzarelli7348 wrote: »Hi,
( The only think with staying is that we are in a flat on the first floor with no garden and with a small baby is a bit of a problem.
Why's that then? The first flat we had was 1st floor, we had a baby but we had to make do.0 -
Just had a look at all sales in your postcode
http://www.nethouseprices.com/index.php?con=sold_prices_street_detail&street=CHARLES+ROAD&locality=ST+LEONARDS-ON-SEA&town=ST+LEONARDS-ON-SEA&cCode=EW&year=All&house_style=All&house_age=All&search_radius=15&outcode=TN38&incode=0QA&eastingToSearch=57990&northingToSearch=10960
It doesn't look good reading when compared to your current asking price.0 -
The 3 most recent sales on that list were for 1 bed and studio apartments in a block which had been recently renovated and were also struggling to sell, they are quite alot lower than what they had originally been listed at. Just the same as it seems to be going everywhere at the mo.0
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You won't want to hear this - but back in 2004 it was clear property was overpriced then. You decided to buy and seem upset that you have made 'only' £11 grand in that time.
Lots of people live in 2 bed flats with children - it's not impossible. There is no point berating the market; you need to decide whether you want to rent out the house (assuming that your lender gives you permission and that rents would cover your mortgage and allow you to buy elsewhere - a big if) or sell at CURRENT market prices. As Doozergirl points out, sagely - compare your price to what is actually selling; you do yourself no favours comparing yourself to others' over-inflated asking prices, and will just add to the statistics of unsold property in your area.
Her idea of splitting the room sounds excellent; if you're up to the hassle, that might be a way to add value to your property.
Do beware; the longer you hold out for some mythical unachievable price, the less you will actually be able to achieve as the credit crunch kicks in. Don't forget that your flat is very much FTB territory, who have just been hit by the need to suddenly produce another 6-12K deposit on a property like yours, not easy to lay hands on overnight.
Why did you not question the fact when your estate agent told you your property had gone up by nearly 40% in 4 years, yet find it so hard to be told you've just lost 75% of your non-existent gain?
Instead, be happy you're not one of those in negative equity - yet.0 -
pizzarelli7348 wrote: »Hi,
I really don't know what to do. We have a mortgage of £65,000 left on the property.If we sold for £120,000 ( but I am starting to doubt we will ever find a buyer) we would have made £11,000 profit but only in theory because by the time we pay the solicitor, the EA, all the other expenses associated with the sale, I think we will be at a loss.
Not really a loss as you'll have paid off some of the mortgage so have equity (you'd have been paying rent anyway) and have been landlord hassle free for 4 years.0
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