Flat not selling in Milton Keynes 🤬

[themadhatter85]

Hi, just want to know has anyone sold a flat in Milton Keynes before? If yes how long did it take for u to sold the flat?

The reason I’m asking here is because I am soooo struggling to sell my flat at the moment, almost want to kill myself for going through this!

The flat was sold in end of March, then buyer pulled out in May. Put the flat back on the market right before the election, second buyer came along and sold in July, she’s a “cash buyer” who didn’t need a mortgage but long story short, she’s an absolute time waster B*H! She dragged the whole process out for two months and didn’t even get to exchange, ended pulling out mid September! Absolutely fuming! Seriously as a cash buyer I dont expect it take that long to exchange and complete! Anyway, put the property back on the market in September and hasn’t been many viewing at all, have list the flat with a multiple estate agents but still not many viewings, even when I get calls from estate agent said someone would like to book in a viewing, they ended up never turn up for the viewing at all. The flat has been reduced by £15k too!

I am so depressed at the moment, struggling to stay positive at the moment cause I don’t think i’ll Ever sell this stupid flat! 😩

@themadhatter - I've recently done the Marie Kondo decluttering thing and was considering a new career as a home stager (like the House Doctor on TV, tinkering with places to make them more saleable).

I always wonder why agents don't make more of a big deal about maximising appeal as most of the houses I've looked at could do with a little bit of rearranging at the very least and a fresh coat of paint most of the time.

Things to consider - which area of MK is it in? That will make a huge difference to how saleable it is - if its one of the less desirable grid squares, but a nice part of that area perhaps this needs stating/showing? e.g. some photos of the local area to show its not next door to a crack den.

Could it be that the decor looks a bit tired? People generally overestimate how much time and money it will take to do up a place and it can be off-putting to know you have to do that before you can properly move in. However, usually the amount you spend brightening it up comes back to you in the sale price.

Check the photos the agent has used, do they show the place in it's best light? I've seen places advertised with photos taken at night, or no photo of the outside etc.

Do you have pets/do you smoke? The smell of dogs or smoke would put me off buying somewhere, as even after a deep clean I can still smell it.

Maybe you just need to try another agent, one who's a bit more hungry for the sale. They might be able to give you some more pointers too.

I love a bit of interior design and would happily give you some advice if you send me some pics or the link to your property.

My general advice would be that multiple agents just looks desperate, even more so if the flat has been on the market for a while.

I would take it off the market for a couple of months - that means every agent you are using (how many?) does not market it at all. Then have a good long look at the presentation and the price and re-market it around Easter time.

Any chance to a link to one of the current listings? In a tricky market - at the moment it is tricky in some places for certain kinds of property because of the political uncertainty around Brexit, etc. - you can't just bang a few poorly staged and taken photos on the internet and buyers will come to you. Not saying that your flat is not well marketed, but there could be something putting people off.

Why did the sales fall through, as in what reasons did the buyers give?

second buyer came along and sold in July, she’s a “cash buyer” who didn’t need a mortgage but long story short, she’s an absolute time waster B*H! She dragged the whole process out for two months and didn’t even get to exchange, ended pulling out mid September! Absolutely fuming! Seriously as a cash buyer I dont expect it take that long to exchange and complete

OP - flats take a lot longer to reach the point of exchange than freehold houses. A cash buyer doesn't make the process of dealing with a leasehold property any quicker, other than no lender involved that the solicitor has to report to. The "average" time to reach exchange for a leasehold flat is 12 weeks.

Think about what might put someone off two months into the process? Is there anything in the lease, such as how long is the lease term? Are there any major works planned? How about the Management Pack - any onerous rises in service charges or ground rent? Anything which come up in the searches i.e. proposed plans to build a football stadium next door etc? Anything on the sales particulars with the EA which are not true? Such as allocated parking when it is actually communal on a first come first served basis? Is it priced competitively compared to other properties in the area for the same price?