How long would you expect for an offer on a Central London flat?

[Paloma12]

SW1. 3 beds - very nice. How long is realistic?

Depends whether it's overpriced or not, and if there's a ton of similar properties on sale in the area. Eg: most flats in my popular block (in London) get snapped up within weeks, if not sooner, but there's one been on the market for more than a year because the asking price is taking the piss.

How do you know if you are taking the piss? We've just gone by price being achieved per sq ft with comparables.

There's a lot of variables, of course, but I'd be surprised to see a reasonably priced property not receive an offer within a month. Whether that offer is any good is another issue of course.

When you say comparables do you mean sold prices or similar properties on the market?

Aren't open days more for houses?

Toast - similar properties

Under 2 weeks if price is right. We see open days for flats in my bit of London so usually first offers received in less than a week. We have friends worrying after a month of no offers and just got an offer after a price reduction.

Ours has been on for a week, no offers. But two second viewings

You don't want quick offers but are not viable or way too low. If you say you've got second viewings, that's a very good thing. We sold our flat in central london Sw1 last year and we got two offers within a week, but went with a third one which came in only in the second week. So hang in there, if your price is right, you might even get some competing bids to drive the price even higher!

Is price per square foot a realistic valuation? The price varies considerably from street to street round here (West London), even for similarly sized houses.

It sounds charming, I'll take it

(sorry, not helpful)

We sold ours recently. Put price as high as we thought was reasonable, got several offers within a couple of days. Got offered asking price within a week, lost buyers, got offered asking price a day later again!

Now thinking we sold it cheap...

Molly - we've done price per sq foot as a roughy guide, adjusted for street - it's very nice, but not one of the mega posh ones. Ginger - were you central London?

We sold our 2 bed flat in NW2 very quickly recently. We listed online 10 days before our planned open day. Had 17 viewings over a 2-3 hour period, plus 3 or 4 other viewings during the week before for people who couldn't make the Saturday. Initial offers received on Monday, had a couple of second viewings on Tuesday, then went to best and final offers by midday on Weds. Resulted in 7 offers, all above asking price. So we sold within 2 weeks of listing online. London market is totally crazy at the moment!!! I don't know how FTB's are able to afford anything in London!

Paloma we were SE London - in a v. nice area.

We chose price based on what other flats in the same development went for, and then asked a little bit higher.

Hmmm. And to those who sold quickly, would you say your EA was any good (proactive)?, or was this all reactive from internet?

My EA was fantastic. I went with one that charges the highest fee of all but are worth every penny. They encouraged me to put the price up and brought in lots of people, they do viewings at all times, whereas some EAs don't do weeknight viewings!!!

Also when we got the initial lower offers the EA told us not to accept it as they would get us asking price!

See, I think mine is just being completely reactive.

Is your property on rightmove, zoopla etc?

If your EA isn't easy to reach, flexible with viewings, or have a good client base, then it will probably take longer!

But the market is so good for selling now, I'm sure you will still manage to sell yours relatively quickly!!

Yes it is, ginger. I would post a link, but don't want to out myself!

To be honest if it's in with a central London EA that rhymes with Loxtons then that may be putting buyers off. We rule out all properties marketed by them as they give such a shit service to buyers and frankly lie.

No! It's not them. Its with one that could be two male first names or two male surnames!

It's

Ah ha! Then I doubt that's the issue - the ones I was referring to have a justifiably poor reputation tbh but I've never heard a bad word about the others.

It's so stressful. I was kind of expecting it to be snapped up. Sigh