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Selling a flat in Sheffield


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Does anyone know what the market is like for selling flats? I have my 1bed flat up for sale since march yet have not had much interest.

 

The house buying market seems to be increasing, houses that I have noticed that have been for sale since the winter are now selling.

 

I have already dropped the price by 5k and it is the cheapest 1bedroom flat in my apartment block by far. Are people not buying flats at this moment in time?

I am tempted to rent however would rather sell and not have the hassle of being a landlord, also the rent would not totally cover my mortgage and maintenance fee.

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There are so many flats on the market

 

People were fooled in to buying bland uninteresting boxes,which were all the same

 

Over priced, people thought they were the cool thing

 

but have been proved wrong....

Edited by Eckolad
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There is a glut of flats in the city centre. People can buy brand new, instead of 'second hand' for rock bottom prices right now. What is going well, at the moment, is the letting of desirable flats to foreign students, mainly Chinese by observation. If that's not financially workable, then you may not have a palatable decision before you.

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I bought my flat which is situated in a Grade11 listed building situated in a secure maintained gardens with a parking space in S6. I thought this would have better selling potential that the high rise city centre blocks. However it appears not. It's disheartening as I have dropped the price low to sell as my fiancé and I wish to buy a house together.

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Balance it out as unemotionally as possible... decide what you can go down to in an effort to "price to sell", then at least you can get it off your hands. In 15 years, you won't be worried about £10,000 or £15,000. The more you agonise over it now, though, (and I'm not saying you are), the more it will bring you down and, yes, be disheartening.

 

The other option is to spend some more money on it - to make it even more appealing. I have no idea what you might do, as it might be in great nick already, but it - overall - sounds like it might be a problem you have to buy yourself out of, especially if you can't let it out and make a nice profit.

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Unfortunately all that has been said so far is technically true but do not despair tweetypie. As your flat isn't in the city centre it does carry more appeal to people wanting to live in S6 as there is less competition from similar flats. On the flip side however there are more people needing to live/work in the city centre than in S6 :/

 

I am sure you will have done all this already but make sure your agent has photographed and presented the property to the best of its potential.

 

Make sure you have staged the flat ready for sale so viewers see it in it best light.

 

Make sure the agent you have chosen has a proven track record of selling flats in your area.

 

If you'd like any advice on which agents are most suited to sell your flat I'd be happy to help.

 

Good luck, and don't get too disheartened just yet, the market is slow.

 

James.

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There is a glut of flats in the city centre. People can buy brand new, instead of 'second hand' for rock bottom prices right now.

 

I started a thread on this not so long ago- people talk about prices dropping but I havent seen any city centre apartments at rock bottom prices. At worst prices appear to have dropped c.10%. If I could pick up a 400sqft 1 bed flat for c.70k (what they were priced at in the very beginning of the 'city living' revolution) I would think that a reasonable price. But they are still c.100k.

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I started a thread on this not so long ago- people talk about prices dropping but I havent seen any city centre apartments at rock bottom prices. At worst prices appear to have dropped c.10%. If I could pick up a 400sqft 1 bed flat for c.70k (what they were priced at in the very beginning of the 'city living' revolution) I would think that a reasonable price. But they are still c.100k.

 

3 bed maisonette at Gleadless went for (SOLD for) £20k last month. 750 Sqft/ 70Sqm

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