HELP! My neighbours have gone on the market three days before me..

[FergusSingsTheBlues]

What should I do? Is this a benefit or a hindrance? On one hand, they have put themselves on for the same price that we were thinking, but their flat is nowhere near as nice (honestly). It's been rented out for years, v dated. mine is in great nick as we just finished it.

So, do I raise my price slightly?
Keep it at their level?
Or just wait a few months?

These flats dont come up that often and tend to go fairly quickly. Could benefit from their footfall, right? On the other hand, don't want to end up in some gazundering stylee mess.

Rise your price slightly but be open to offers if a good cash buyer comes along.

Raise your price and don't worry about them. Concentrate on your own flat. Good luck.

Could you wait? If I saw 2 flats next to each other up for sale I wouldn't even go and look cos I would think there was some anti social neighbour/problem as both were trying to sell

our last home was the same and the agent ( which was the same btw) would book viewings together, so buyers coukd compare both where, the same price.

drove me insane id phone for feedback and she would give me the neighbours, in the end I told them not to send for a viewing if they where trully interested in our home and not next door.

Are you using the same agent? I would be tempted to put it on at a higher price and see what happens.

Yeah I would put it on for a little more so viewers know what to expect. Definitely go with a different agent. Viewers will be able to see a board if they want to view the other property.

I would stick with the price you intended to go with. Being nicer and the same price as the one next door can only work in your favour.

If it's cosmetic differences only then even a 5k difference pays for a lot of decorating. Many might prefer to spend less and decorate how they wish. Keeping the same price avoids this

We had this. Different agent, same asking prices. Houses were similar but much different interiors. We sold first for the full asking price- it worked in our favor as viewers came to see both, so it was like having two EAs but only paying the fees for one!

Is your asking price reasonable? You could put it on at a little higher given that it's better than your neighbours. But IMO it will give you more of a negotiating tool if yours is the better one at the same price. Depends what your finances are though. good luck!

Flats seem to be harder to sell than houses. If your house is nicer, then that gives you an advantage at the same price, but not if yours is more expensive. If the flats are the same size then unless there is a significant difference in fixtures I'd buy the cheaper knowing that at least there is potential to improve it.

I don't understand. Why do you think your flat is "worth" more now because your neighbour has put their flat on the market? Sniff of greed??

erm, because she wants to communicate to the potential buyers that hers is in a better nick before they click on the ad to investigate further?

If they look at the other flat first and find it horribly dated, they are likely to think hers will be the same unless it is priced differently.

I suggest only a small price difference though.

agree that I'd rather buy the dated one for a few K less and refecorate to my taste than pay more for something more recently finished to someone elses taste

I wouldn't worry.

my flat went on the market at the same time as two others in the block. one was nicer but way overpriced. the other one was grim and way overpriced. I knew that the nicer one had had offers accepted which had then fallen through, so I put mine on at a reasonable price and had a good offer within weeks.

we also bought our current house after seeing a better condition house up the same road. for cheaper

so don't worry, as long as your pricing it realistically.

I don't understand that logic at all purequintessence, makes no sense to me. If i see two flats at the same price i'd look at adverts for both. I wouldn't look at one decide i didn't like the decor and not bother to look at the other. I wouldn't necessarily assume that a higher asking price meant a nicer flat either.

I think the fact that the op had already got an asking price in mind makes a difference. The advantage she has now is being the nicer flat at the same price. Raising her price just eliminates this advantage.

It is a good job we all apply different logic to things!

Pure, the price is usually advertised alongside the pictures, whether it's on right move or estate agent window or mailing list etc, you don't just see the price then have to make some extra effort to look at the pics if you think the price indicates they'll be worth looking at

it's the pictures not the price that gives you the first indication of condition/decor

I am familiar with rightmove. I see a small thumbnail picture, and the price.

We all have different logic. One poster below says she does not look at any ads when there are many in the same street/block as there may be a reason. Some wont look at two "identical" flats at the same price if the first they look at is in a terrible state.

Not sure why the focus have moved on to me, I just gave my opinion.

Thanks for your input....I would rather buy a dated flat myself, and do it up...but there is a substantial difference between the two. It would be inconceivable that they are both worth the same, but I think the other owner is the unrealistic one here.

Mine is a family home with wallpaper, carpets, made to measure curtains, fireplaces blah blah, theirs has always been a student flat with patterned carpets and cladding and other horrors. They really are totally different. And will probably appeal to different buyers anyway which is why im not sure if any if this matters.

And, no,im not being greedy, have planned to put it on for exactly the home report valuation whenever we get that back, but at the same time, am not operating a charitable fund here and do need to get a fair price, so thanks for your comment about "sniff of greed", stella.

We are in scotland. So it will probably all run to bids anyway.

Don't bet on it running to bids at all. I have not had a closing date for over a year in my office. They just don't happen very much at all these days. If you think that you will get a closing date you don't know the market and you seriously need to think again.

Where are you and what does your home report say? What does the home report of the neighbouring property say?

What does your EA say is the best plan of attack? Have they suggested and offers around, fixed price or offers over price? What is your neighbouring property advertised at?

It can make a difference both being advertised together but proper wording of advertising and a good marketing plan should make the difference very evident between your property and next door.

PM me if you want any help.

Havent had home report back yet. EA said to ask for more, but for the sake of a few thousand pounds, i dont want to be hanging around, id rather price to sell realistically. We are not in a hurry bit want to be gone before year end.

Neighbour on the other side went in six weeks, this Christmas, sealed bids etc. his asking price was about 10k more, finish on his house prob a bit better than mine, so it is possible even if he was just lucky.

Have a look at the Aberdeen Solicitors Property Centre site Greggs, loads of closing dates advertised on there in city centre properties. A few in our area too, unfortunately!

This has happened to us twice (!) and worked in our favour - potential buyers came to see both properties at the same time.

Aberdeen is all by itself. You cannot compare that area to anything else in the uk. Aberdeen has been recession proof.

I am not saying closing dates don't happen, just not like they used to pre 2008.

(BTW can someone please explain whats wrong with being "greedy" when pricing your house, or anything else, for sale? surely noone would ever say "well the EA said its worth 190, but we actually can get by where we're moving to on 150, so lets not be GREEDY and put it on at that!" , doesnt everyone want the highest price they can get?