I'm about to put my flat on the market. It was valued at £240K about 8 months ago, and I expect it'll be a bit more now as it's in an area where - despite what's going on nationally - prices are going up.
My upstairs neighbour recently sold his flat within 3 viewings, other close neighbours sold on their first viewing. The estate agents tell me that it's still the case that flats are shifting very quickly round here.
I've received a private offer of £235K. We've agreed that I'll see what value the estate agents give it before replying to the offer. But I've started wondering what value I would accept to not put it to the market? As it's a sellers' market, would I be silly to not see what we could get? I'm secretly hoping for just below stamp duty (£250K) but I think that's possibly unrealistic!
Would you accept a private sale in a sellers' market? How would you judge what was a reasonable offer?
We're using the equity to buy our new place (no mortgage) so every pound counts! Whatever the equity is that we get from this place will be what we can afford to offer for our new place. £5K, for example, could make a big difference to us!
We are in no particular hurry to sell.
WWYD? Any advice much appreciated!