Unsellable Falts/ apartments

neas

If you cant afford to redecorate... then can you really afford to loose alot of money by not selling for a realistic price?

Are you sure your greed isn't getting the better of you? IF the flat was free, free money is good to everyone... if you sold it you could be earning 5% every year in an savings account rather than letting a property deterioriate and... paying for its upkeep.

It really is a no-brainer.. just reduce the price to realistic levels. If the carpet is so brilliant.. then the pictures dont do it justice it looks horrible to me..

Rachman_2

Estate agents overvalue to get instructions (or a lot of them do). And forget past prices - they were in a totally different market - you missed that one and every month is costing you (I'd guess at 25% equity release principal based on a value of say £80K at about 6.5% and been going for about 5 years) £150 in further interest and you owe them about £28K so far. So stop messing about. Accept reality and sell it. Beneficiaries go one of two ways - get it sold because it's free money or hang on for the very last pennies. I think I am working out which one you are. You paid nothing for it, so it's all upside. What's the problem ?

As for no funds to redecorate. You can't afford some paint ? Get real. Could you afford a night out since the New Year. It cost more than enough paint to redo the entire place. The carpet may be expensive, but it's gross - sorry, but it is. What it costs does not mean it's nice. The furniture is appalling as well. Take a look at the one for £80K posted on here before - are you seriously suggesting yours is worth 25% more. Honestly ?

I don't get it - you want top dollar but won't do anything to help you get it. So what do you expect ? You've had pragmatic (if seemingly harsh) advice and you have tried to defend the place against it - pointless.

Is it ex-council - you've so far avoided saying. What is the service charge ?

It's also 480sq foot (very small) and you want 100K for it. £250 a sq foot [see, it's easy to slip into overinflation] , in Middleton, unmodernised and with hefty service charge.

Doozergirl

Rachman wrote: »

It's also 480sq foot (very small) and you want 100K for it. £250 a sq foot [see, it's easy to slip into overinflation] , in Middleton, unmodernised and with hefty service charge.

Interesting. I just sold my house for £204 a square foot. And it's lovely. And freehold. And in the area with the highest population to employment rate in the country apart from the Square Mile.

Benefits_Blagger

You ain't going to get a £100k for that flat, only a fool would pay that and the banks don't lend to them anymore!

neverdespairgirl

neas wrote: »

My partner is polish and I've seen the flats in poland in gdansk... they are hardly anything to live for. One flat had a living/bedroom, a small box kitchen (really small) and an opposite bathroom (same size as kitchen)

The weird thing was the heating. It was the coldest winter for 50 years when I was living in Poland (snow from October to May!) and the heating for the entire block was centrally controlled. Not only could you not set the thermostat, you couldn't turn a radiator off or down!

Come May, the snow suddenly melted and it warmed up a lot. The only way not to live in a sauna was to open all the windows. Bizarre!

neas

Yea... her small bedroom was roasting when it was -10 outside... good idea having all flats together tho prob saves energy in combined heating for the place.

LittleMissAspie

Doozergirl wrote: »

If you aren't bothered, it's either because you're genuinely not interested in interiors (quite a few of us girls inherantly are, you'll find) or you're aiming to maximise the return yourself.

I would disagree with this. I'm interested in having a lovely looking home but when I come to buy or rent somewhere to live, it's the size and location that I am interested in. Our current rental has hideous 70s curtains and the carpet looks like it came from a pub. But the house is the right size, the right location and the right price. The cosmetic details are so unimportant, because you can easily change them.

Still, I guess this is to my advantage as I can pick up on the places that other people are ignoring because of a dingy Rightmove pic. Less competition and hopefully a lesser price too!

Doozergirl

LittleMissAspie wrote: »

I would disagree with this. I'm interested in having a lovely looking home but when I come to buy or rent somewhere to live, it's the size and location that I am interested in. Our current rental has hideous 70s curtains and the carpet looks like it came from a pub. But the house is the right size, the right location and the right price. The cosmetic details are so unimportant, because you can easily change them.

Still, I guess this is to my advantage as I can pick up on the places that other people are ignoring because of a dingy Rightmove pic. Less competition and hopefully a lesser price too!

I said "maximise the return". That means buying a property that is tired because you want to do the interior yourself and hopefully improve the value or get better value for money than one that is already in tiptop condition. That's exactly what you're doing when you say you can pick up properties for a cheaper price. I don't see how you disagree.

Conrad

Why do us Humans tend to think whatever we own happens to be a little better than next door!

Reminds me of people who think thier cruise holiday was pure luxury, yet to me its chavvy( even the biggest poshest boats), chintzy, full of fat humans with gut fulls of poo, coughing and germs, cooped up, buffet style shat food - just awful, the last holiday I would ever have.

izzybusy23

anne211981 wrote: »

firstly i would like to thank some of you for your helpful responces.
this property will be reduced accordingly. but firstly when the flat went on the market that was the guied price we were given esspically with others in the same block being higher. (im talking my block not a block on the hill or 200 yards away.

But some of the comments i feel are very harsh when none of you have acctualy been and seen the place in the flesh.

the carpets. (omg) are so expensive you couldnt replace them with any better. they have a pile so deep you leave foot prints in it when you walk on it so to hover it would be pointless to try and remove footprints. !!! oh and its green, and wool.

yea the block isnt that attractive granted but its 1970's build that cant be altered in anyway. this flat also has it own rear access as well as front communal access.

unfortunaly the bed room was painted blue to keep my later father-in-law happy. not my choice at all. and we have no funds to re-decorate. and shouldnt buyers go with an open mind. you can make it your own home.

all white goods bar the inbuilt cooker and hob have been removed as family members are making better use of them. people who expect to get a flat with white goods must be ...... well barmy, unless buying a brand new flat. this isnt brand new.

i must admit the pictuers are rubbish, and not having looked at them on the site before now, (mistake i know) i didnt realise just how bad they looked. so a re-picture will have to be apointed ASAP.

anyway, i suppose it hurts to have reality pushed into your face,

Hi there

Not sure whether somebody has already mentioned this or not, but on the Tonight programme last night, a woman who bought 4 BTL's in Bury had to put one in for auction as she couldn't afford to service them any longer. This was a 2 bed, 2 bathroom 'executive' apartment that failed to get bids at £70k.

I have to admit, the pictures are awful, the furniture is dated and there are nicer properties on the market for less than you are asking.

I fear you will end up chasing the market down.. especially after watching Tonight yesterday and that 2 bedder failing to meet £70k.

Good luck, I feel you may need it.