Tip for selling

magicgenie

I can't sell my flat :-(

I've painted it, dressed it, new carpets, it's sitting empty and costing me £500 a month (I'm working in another country - the flats management committee won't allow me to rent it).

It's a lovely 2 bed flat in Chorlton, Manchester.

http://www.rightmove.co.uk/viewdetails-17965018.rsp?pa_n=1&tr_t=buy

Other than reducing the price, (it's not too highly priced, more competitively priced, i feel) I think i've done everything i can, today i've even paid for an ad on Facebook.

I wondered if anybody had any advice, or tips, maybe you've sold yours recently in the present market and might have hints or tips for the rest of us that are struggling?

Thanks for reading, hope to hear from you
Alex

silvercar

stamp duty levels mean no-one will pay over 125k.

have you had many viewings? what does your agent say?

poppysarah

You are paying 500 a month on mortgage?

How much mortgage to you need to clear?

Reduce the price until it's nearer that figure.

ixwood

It's a lot of money for a flat IMO. What are 2 bed houses selling for in the same area?

LandyAndy

If you've done everything else and it still isn't selling then the price is almost certainly the issue.

As an aside:
I lived at 234 Manley Road many years ago (the early eighties).;)

pinkshoes

Photo 2 makes it look cold and bland, but the rest seem fine. The outside of the building is ugly, but that can't be changed, and people generally get suspicious if the outside of the building isn't included in the photos!

There's another flat for sale in the same block for £119k.
http://www.rightmove.co.uk/viewdetails-21840887.rsp?pa_n=1&tr_t=buy
So you'll have to price yours below this, as yours is ground floor, and ground floor often sell for less. Some people won't even view ground floor due to security issues.

ixwood

I think it looks lovely inside. You're done a good job. Shame about the timing, but not a lot you can do about that now.

I think you're probably going to have to reduce to sell.

magicgenie

< stamp duty levels mean no-one will pay over 125k. >

Silver car, thanks for your post. I didn't know this and find it quite remarkable that the estate agent didn't advise me.

There's been 1 viewing since it was up for sale at he beginning of the month. The Agent says the market is tough, that is all.

Poppysarah, thanks for your reply, perhaps i should go down to 124.999.

Ixwood, if i search for similair on rightmove, i thought it was competitively priced.

Pinkshoes, mine had a new bathroom and kitchen and is immaculate throughout after just paying a dresser two and a half thousand pounds, the other flat has what looks like the original bathroom and the kitchen is so bad they won't even show it.

But thanks for showing me this one, i wonder if it's very recently come on the market, i haven't seen it before.

What price would you recommend for mine?
Thanks everyone for replies, it's very kind of you to take the time to reply.
Alex

timnicebutdim_2

magicgenie wrote: »

perhaps i should go down to 124.999.

If your comfortable getting just under £125k, how about pricing at £127k or £128k as it will give you a bit of leeway with negotiations. It also sends out signals to the the buyer that they may be able to avoid stamp duty. Whereas £129,950 kinda translates that you want over £125k.

lostinrates

Although I personally would prefer ground floor I wouldn't pay more for your flat than the other in your building.

I agree yours is better presented, but on buying I'd want to 'make it my own anyway' and I personally am turned of a roperty in which I'm paying for someone elses personal taste. The major things like the building, area, size, RENTAL RESTRICTIONS are the same.

Size I'm guessing, because there is no floorplan I can see on your details. Rental restrictions would alert me not because I plan a BTL empire but because as a buyer I'd like to have options if my life went belly up. For me I would seriously feel that impinged on the value.

floor plans really help be as a potential buyer BTW, if your flat has more to offer than the other I'd ask your agent to include one.


ETA: I'd price at not far off the other one TBH
Good luck!

dander

It's also worth chatting to the agent and finding out how many people they have registered looking for flats in your price bracket. If there's a reasonable number, then there must be a reason why they're not looking at yours. But if the potential buyers aren't registered in the first place, then you're just suffering from the market downturn.