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Original poster

Is our estate agent useless or is it the flat?

84 replies

Mizydoscape · 07/09/2020 10:24

Flat has been on the market for 5 weeks now. We've had 2 viewings. That's it. We walked past the estate agent the other day and it's not in their window? We don't live in the town anymore and visit infrequently. Any advice on how to get more interest? We are tied on price as it's a shared equity flat and the valuation survey is the price it needs to sell close to but this was the top end of estate agents valuation.

We hear nothing from the agents if i don't call them. Are they being a bit crap? What questions can I ask them next time I call?

All new to us! Advert link below.

www.rightmove.co.uk/property-for-sale/property-72282246.html

OP posts:
FAQs · 07/09/2020 12:05

The price is a little meaty but not much, higher the floor, higher the value.

You must have the length of the lease added on there.

It need some window dressings, curtains or blinds as someone said seeing cars really won’t do you any favours.

The yield is good, how easy is it to let when you are a shared owner?

Original poster
Mizydoscape · 07/09/2020 12:06

Sorry, i wasn't clear. It's not shared equity that can be transferred to a new purchaser, but rather an equity loan that must be paid back by the sale and the value of which is determined by the RICS valuation survey.

Its not being sold at half the going rate. £135k is the full price that the surveyor valued it at. It is a cheap area.

Yes there are cars parked all around but the street itself is not noisy, only has traffic of residents. There is nothing we can do about the location it is a ground floor flat and situated where it is. The private patio is only the size of a balcony and cannot be made any more private. It is private in the sense that no one else can use the space

Take on board comments about furniture and i also thought the pictures where a bit much of nothing.

OP posts:
HolyForkinShirt · 07/09/2020 12:07

I wouldn't bother with a viewing im afraid.

It is impossible to to visualize the size of the rooms, or which rooms are which.

No idea on lease, it says may incur a cost or something like that. surely the estate agents should have this.

no idea on service charge.

Also what do you mean shared equity? is this the same as shared ownership? this needs to be made crystal clear if this is the case.

i would personally stage the house a little, get the agent to put on all the relevent info.

HolyForkinShirt · 07/09/2020 12:09

sorry OP cross post,.

Cooper88 · 07/09/2020 12:13

So I used to live in the area and all I can say is that I have heard several people say that the development was not well built, really bad mould etc. I'm wondering if that is affecting the viewings.
Also I really wouldn't use connells in town, maybe pop into heart or absolute. Somewhere like that.

Original poster
Mizydoscape · 07/09/2020 12:16

That's interesting @Cooper88, we lived there from 2008 (when it was built) to 2013 before letting it out and never had issues with mould.

OP posts:
Someyoulose · 07/09/2020 12:21

Your main problem is the one you outlined above. You are being forced to try and sell at a price which local agents said was the highest possible. Given the presentation of the flat currently you are not likely to get the highest price.

FAQs · 07/09/2020 12:22

Actually just looking at the other flats your price is ok I reckon with the additional garage.

Def lease term needs to added and a bit of staging.

Cooper88 · 07/09/2020 12:22

Like I said it's a rumour, but it's a well repeated rumour so I honestly think it could well be part of the struggle.

TweeBree · 07/09/2020 12:33

The second bedroom looks tiny. I would add measurements to the floor plan so viewers can tell how a bed would fit.

Echoing other posters - flats are a tough sell, atm. My neighbour has had theirs on for a month now and not a single viewing. My estate has dozens on. We're in London, right beside a tube station.

Original poster
Mizydoscape · 07/09/2020 12:37

Thank you everyone this is much more useful feedback than anything we've had from the estate agent!

OP posts:
tcjotm · 07/09/2020 12:37

It says ground floor, would a resident have to go up any steps to the front door or is it all level? If all level I think that's always worth highlighting for people who'd be attracted by the easy accessibility. It can be tricky to work out and if not obvious I wouldn't bother viewing. Obviously not helpful to you if there are steps at your flat.

Original poster
Mizydoscape · 07/09/2020 12:40

Good point @tcjotm the patio door is on ground level but the front door is entrance through stairs or a lift and that isn't mentioned at all. All the plug sockets are at a wheelchair accessible height as well.

OP posts:
tcjotm · 07/09/2020 12:49

@Mizydoscape

Good point *@tcjotm* the patio door is on ground level but the front door is entrance through stairs or a lift and that isn't mentioned at all. All the plug sockets are at a wheelchair accessible height as well.
Ah, definitely mention it then. Could be really attractive to an older person/couple downsizing and future proofing, if they didn't already need the accessibility (I'm thinking ahead myself when I surf Rightmove for fun Smile
Climbingallthetrees · 07/09/2020 12:54

Last year top floor flat with a view sold for £2.5k less than your listed for. Taking into account that people pay more for top flats and views and the current market for flats, it’s the price. Do you have any ability to get them to review the valuation?

Original poster
Mizydoscape · 07/09/2020 13:22

@Climbingallthetrees yes we saw that but the agent said that while they had a sea view (glimpse rather than view 😉) we have a garage and they don't. They were on the market for 135k and sold for 132.5k.

OP posts:
12309845653ghydrvj · 07/09/2020 21:07

The flat is presented in a way that i think is unlikely to attract interest, unless for price (for investment to rest, or as buy). If the price isn’t competitive, unfortunately I think it will really struggle. It looks so barren and soulless like that, and really impossible to visualise as a home you would chose. I love interior design, but I struggle to visualise it as antmytjing other than a series of boxes.

Maybe you could literally borrrow furniture from a friend, photograph and return? Just anything to make clear the rooms have a purpose, and are different rooms, and might someday have someone living there?

I’m not sure what the estate agents can do, short of cutting price, to sell it? It’s not going to excite the inanition like that!

sallyshirt · 08/09/2020 06:59

@lastqueenofscotland

Selling flats is a massive issue due to to fire safety regs and most flats not having an ESW1. Without this they will need a cash buyer.
This
Requinblanc · 08/09/2020 08:03

I am sorry but your agents don't know what they are doing...

If this is a shared-ownership property, it should say so in the ad and you should have the details of what the share is (25%., 30%) is. I assume £135,000 is the cost of the share?

Also, usually once shared-ownership properties go to the open market through an estate agent if the housing association has not managed to find a shared-ownership buyer, you can also offer it as a 100% purchase. Again if this is the case the ad should say that the flat is both available as shared-ownership or a full purchase.

Also remember that a shared-ownership flat cannot be used as a buy to let...so the ad stating the potential income is a bit dodgy (unless the property can purchase as full ownership).

Add details of the lease and service charge.

Also I don't want to alarm you but it looks like there could be cladding (near the roof) on parts of your building which might be a problem.

I would have a good chat with your agent and tell them to improve the pictures and the content of the ad...

HeronLanyon · 08/09/2020 08:15

If I were looking for this flat in this location I would be frustrated by -
No idea of the outside space - dimensions and what I can do with it ! This is inexplicable.
No idea of the garage just a one second front view on the video. I would need to know dimensions - what it look like inside (even if photo of empty square - I want to see it). Where it is from the flat ‘nearby’ is worse than knowing nothing.
Parking arrangement otherwise - for me and visitors etc. Is there any controlled residents parking ? Is there any allocated spot etc ?
I also can’t work out which flat yours I’m in the photo of the blocks. No idea what I’d be buying other than ground floor.
I’m not so fussed by lack of stuff in room photos as there is at least a floor plan.

Has to be one of the most empty listings I’ve ever seen.

TazMac · 08/09/2020 14:14

Looks like a lovely airy and light flat.

Just one thing to consider, will the buyers lender require an EWS1 form?

Climbingallthetrees · 08/09/2020 14:30

@Mizydoscape the listing for the other flat which sold clearly states it has a garage. Your agent is not good.

SparklesGalore · 11/09/2020 05:07

@Bells3032

the do sound a bit crap but bear in mind flats are not selling well atm. With covid people are feeling like they need space and gardens
I agree with this. Flats are hard to sell, and I expect the EA is focussing their time on more sellable properties with gardens. They're no doubt trying to make the most of the post lockdown boom, before the furlough scheme ends and redundancies start bringing house prices down again.

In terms of your flat it very much looks like a rental which could put people off. I know it's more time/effort/money but perhaps try to make it look more homey?

Good luck though, a tough time to be selling

Crockof · 11/09/2020 05:28

I can't believe the price drop from new build to second sell. Some have dropped more than 40%. Has something happened nearby to change the price so much?

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