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14 Sep 10 16:00
Date Joined: 05 Jun 03
| Topic/replies: 3,299 | Blogger: gresty241's blog
any pitfalls i need to be aware of.
with the estate agent im using at present ive virtually forgotton ive got my home on the market as i never hear from them or if i contact them they have nothing much to say so im thinking of a switch or maybe use another also.
i have been told by a few people one of whom used to work for an estate agent that my current agent rely on people coming to them rather than them trying to find people aswell.
I have 16 days left of a 6 month contract then i must give them 28 days notice in writing.
Can you have two estate agents? and if so do you need to pay fees to both if one sells?
I'd love to sell as theres loads of places i could look into buying but i suppose that's the reason i'm struggling to  sell meaning i need an agent who promotes my home better
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Report JML September 14, 2010 4:38 PM BST
Do the current EA advertise on Rightmove?

If they do, and you're getting no viewings it's proberbly
because you're asking too much.
Report gresty241 September 14, 2010 5:10 PM BST
yeah its on rightmove and i have had a couple of viewings but not for a while, one of the reasons it's going to be difficult to sell is because its a flat that said its in a good area, top floor and the flat is large, infact the last viewer told me he was looking for a smaller flat Plain. The estate agent advised i put it on the market for 120k but since then i have knocked it down twice 2.5k at a time to 115k which is the price i expected it to go on the market in the first place.
i've been there now 5 years and am now mortgage free and expect/dont mind losing on what i paid for it because if i had bought the home i am looking to purchase now 5 years ago i would of had to pay 40k-50k more. Against other flats in the area its well priced ie 5k cheaper than a ground floor one or 10k cheaper than a smaller one.
Report JML September 14, 2010 5:30 PM BST
Difficult to fault the EA.

He advertises your property in his shop and on Rightmove.

Was he the only EA to give a valuation?

If you give me your postcode I could give you a better opinion.
Report gresty241 September 14, 2010 5:49 PM BST
Yeah he was the only one to give a valuation, i went with this EA because i got them down to 1% which no other EA would do.
My postcode is cw98rw

cheers :)
Report JML September 14, 2010 8:36 PM BST
Looking at the flats for sale within 1/2 mile (£100-£120K)
there is only 1 out of 19 SSC.

At Arley Court only 2 have sold in the last 3 years.
The latest No 7 sold for £111K (11/09)
Bought new £131K (05/05).

Of the approx 40 flats at Drillfield Road,the last one sold
was in June 2008.
£105K from £120K new (03/05).

Alford Court 2 sold since March 2008.
No 4 £102K (12/09)-£119K (11/07)-£105K(08/06 and 07/05)-

No 21 £105K (10/09)-£115K (10/05)-£87K(08/02)NEW

Only one flat sold at Webbs Court since August 2007
Sold for £83K (03/09)(No price history)

Quite remarkable how few flats have been sold recently.

Also noticed a new development at Ernest Court are now
offering shared ownership (from 25% for £25K).

At Eaton Court,only 3 sales since 2007.
Last one was No 40

Sold for £109K (02/10)-bought new £126K (03/05).

You will need to get very lucky to sell for £115K.
(That's the average price of the 5 sold in 2006)

There are so few buyers for your type of property and there is nothing to suggest that things will get better.

What you do next depends on how desperate you are to sell.
Report gresty241 September 14, 2010 9:24 PM BST
cheers JML, thats much appreciated Happy
Yeah eaton court & arley court are the same complex and the same style of flat. i'm not desperate to sell i just want to sell, i have no debt/mortgage and have savings and do really like where i live but just think it's time i should move on. What i lose on mine over the five year period i'll more than make up for on another property over the same period ie those will have dropped 40-50k over the same period, think i'll drop in the EA tomorrow and get the price reduced again. There's so many people around here who would love to sell there flats but are not prepared to take a reduction from what they paid. imo prices still have further to fall or at best remain the same as they are now

cheers Happy
Report getting better September 15, 2010 1:12 AM BST
The big firms don't seem to bother to send a bill for their share when they are joint agents if the other agent sells it.
You ring up to remind them and get told the person you were dealing with has left and someone will ring you back but they don't.
So you think well sod that, wait 6 years and then they have missed their chance.
Report gresty241 September 15, 2010 3:30 PM BST
i've been down this morning and knocked another 5k off the price hoping to generate a bit of interest.
One of my viewers ended up buying a property on the opposite court a few months back, she had viewed my property twice and when she was leaving the viewing she did say she'd put an offer in on mine in the morning but sadly i got the phone call she'd put an offer in elsewhere. I found out today that the property she had bought had only gone in the shop window that morning which she asked to view...she liked it and paid the full asking price of 119.950 Cry ah well they got lucky and i nnly got nearly lucky....contracts havn't been exchanged yet tho so thats why it doesn't show on the list of sales
Report gresty241 September 26, 2010 9:03 AM BST
i've had an offer of 106k which isnt great but there's so many flats up for sale and so few buyers i think i may accept, the geezer won't budge from 106k (yet...if at all). My flat was on for offers over 109,950 and i said to myself i would accept 108k. I will lose 15k over five years but the prices of the properties i'm looking to buy have come down 30k-50k over that period. Half my mates say hold out for a bit more and the other half say sell. But is it worth putting off the buyer for an extra 1 or 2k as he's got plenty of flats to choose from and i know for a fact that when he put an offer in elsewhere he pulled out when they tried for more. Also one house i was looking at on rightmove has just been reduced from 240k-215k and i was interested at putting in an offer when it was up for 240k.
**** it.....i'm selling.....SOLD!
Report JML September 26, 2010 1:02 PM BST
Very fair price--I thought asking for "offers over" was a big mistake.

Noticed a new addition at Sandbach Drive for £109,950.

That has forced the other apartment at SD to reduce from
£117,950 to Offers in Excess of £109,500.

Is the house you're intrested in at Brereton Road,Hartford?
Report gresty241 September 26, 2010 2:18 PM BST
hi JMl,
the property is on waverton close, kingsmead 214,950, i've not viewed yet but it's the sort of place i'm looking for.
I was talking to the guy that has reduced his to 109,500 the other day and he said that a guy had put an offer in on his and he wouldn't budge not even £500 that guy has now withdrew his offer and put in an offer on mine. I've been down to the EA today but there's only a young girl in there (very nice aswell [:)] so she said the message will be passed on for tomorrow.
Report ianh September 29, 2010 1:07 AM BST
I've just picked up a 2 bed flat in St Helens in a development that was built in 2005-06.  Vendor paid £115k cash for it and is desperate to sell.... I got it for £40k.  There's reposessions in the block available between £45-51k.  Absolutely crazy how much these have plummeted in value - the arse really has fallen out of the new build apartments market.
Report gresty241 September 29, 2010 1:22 PM BST
Ah well the guy has withdrawn his offer so it's back on the market. How come the offers above is a bad idea?? the EA says its a good idea as it gets me into a cheaper bracket.

Report JML September 29, 2010 5:51 PM BST
Sorry to hear that Gresty.

I regard "offers in excess of £109,950" a higher price than

The reason behind the price change was to get more viewings.

I doubt that anyone with a budget of £110K has been put off
by the £115K asking price.

On a budget of a £106K,I would view a flat priced at £115K
before one priced at "offers over £110K".

Any new viewings will come from people who choose to ignore
"offers in excess" and offer less.

Since you're willing to accept £106K,I'd price at £107,500.

Even at that price,I wouldn't expect many viewings.
Report Rollo Tomasi September 29, 2010 6:08 PM BST
If you are trying to get into a cheaper bracket at offers over why didn't you try "offers over £99k"? What have you got to lose? You don't have to accept a low offer but it might attract more interest.

Is Kingsmead OK for broadband now? I read the ADSL was very very slow as the routing from the exchange in Northwich went the long way around. Are they getting or have got Infinity there?
Report gresty241 September 29, 2010 9:20 PM BST
cheers JML Happy
Yeah bit miffed off but that's life, fortunatley i am happy where i live so no worries.
i'll get that sorted then & drop the offers overs bit & tweek the price. Also i'm gonna have it advertised with two EA's but need to give my notice first before i add another one.

Hi Rollo
I'm not sure if kingsmead has iffinity but with speeds of upto 40mb i seriously doubt it, i was with skybroadband but ditched them and now use a 3 dongle which is actually faster than the skybroadband was although the dongle disconnects more often, i think i was getting speeds of 0.54mb if i understand the figures correctly which was ok for browsing but crap for downloading.
I never realised by leaving skybroadband they would cut my phone line off & according to offcom they we're allowed to do so.
Report Rollo Tomasi September 30, 2010 9:15 AM BST
Just checked and according to the BT site infinity is arriving in Northwich in December this year.

OFCOM are useless. Like all regulators in the UK they do not have the end user interests at heart. They seem to be there just to allow the big firms to plunder as much loot as they can.
Report gresty241 October 18, 2010 8:04 PM BST
YO! [:D] i've accepted an offer again but it's £105k this time instead of £106....fingers crossed all goes well Plain
There's a reposession nearby which i think i'll go and look at which some company is selling through an estate agent. Is there anything i should be aware of/any possible pitfalls when buying a reposession?
Report gresty241 October 23, 2010 8:52 AM BST
i'll be out of work come the end of november and there's nothing around in what i do, i could find work in the new year but must think of the worst case scenario i may not

a. do i sell and buy as normal - need a mortgage

b. sell and buy cheaper - no mortgage but will end up with somewhere i would probably not of want.

c. sell & rent/lodge/(hook up with some tasty bird with a nice pad) - buy later when work picks up

d. stay put & sell later - i do like where i live at present but it could take eons to sell again


anyway got 5 more places to view today but will have to make a decision by monday
Report Rollo Tomasi October 23, 2010 2:24 PM BST
gresty241 Joined: 05 Jun 03 
Is there anything i should be aware of/any possible pitfalls when buying a reposession? 

Agents put on their site what offer they have received and invite other offers prior to completion. So if you make an offer and have your own sale progressing you could get gazumped on the purchase late on.
Report charlatan October 24, 2010 3:07 PM BST
spaff any savings in excess of £16k (or convert them into collectibles)
rent somewhere where you have no chance of whatsoever of employment
get on housing benefit
Report charlatan October 24, 2010 3:10 PM BST
move to somewhere else in europe where you can buy a comfortable place with cash. grow fruit, burn logs, read books.
Report gresty241 November 5, 2011 8:48 AM GMT
at last i've sold and moved out Cool

£112000 i got in the end which is a great price in this climate
Report Cade November 5, 2011 12:02 PM GMT
well done. Any joy with your job search? What is your profession?
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