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Flat frustration!

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  • Flat frustration!

    Hi All,

    I've already seen a lot of posts on properties nto selling, and unfortunately here is another one. I'm quite baffled.

    Its a 2 bed ground floor flat, in a very nie area and well positioned for all amenities. Its a modern build (10yr), low maintenance, a fair bit of land attached for a flat, and is very competitively priced (i.e. 5-6k below identicle flats for sale in the same area). Yet it has been on the market forever and isn't getting a sniff.

    There are people getting through the door but only in trickles, I've had one offer in from an older gentleman but he is in the exact same situation, selling a flat which isn't selling so I'm no further forward.

    I don't actually live there either so theres no upper chain. So with all that in mind, as you can imagine I'm more than a bit befuzzled as to why it hasn't sold. I'm thinking ancient indian burial ground or something.

    Its been advertised to death, the price is as low as I can go, and as I mentioned is cheaper that the others on the estate (one is up for a staggering 15k more than mine!). Has anyone got any further advice apart from jumping in a canoe and paddling to america? ;-)

    One thing that I have seejn but have no idea on, is deferred sales. Sound to good to be true to me, can anybody please explain what they are what the benefits and pitfalls are, particularly the downsides and potential risks?

    Any help or advice would be greatly appreciated!

    Thanks,

    Paul

  • #2
    Re: Flat frustration!

    Just to clarify deferred sales as the deferred sales scheme from Real property solutions dot co dot uk

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    • #3
      Re: Flat frustration!

      If you're not getting any sales interest, the immediate thought is that the property is over-valued in the first place.

      That's why no one is able to sell in your area yet. But, unfortunately a common problem.

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