Selling Apartment New House ready in Feb

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psygnosis

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I am currently selling my apartment and trading up to a 3 bed house. The house will be ready in Feb.
The apt has been on the market for 2 weeks and I have got 6 viewings should I be overly worried that it will sell in time.
What is the average time scale to sell? Bridging is going to be expensive if I need it.
Should I tell estate agent I want a quick sale? Any advice would be greatly appreciated.
 
Hang on, let me get my crystal ball....

Joking aside, no one call tell you- you have to make a call yourself!
 
I guess I am just anxious this is my first time selling as you can tell Im nervous over it. Have another viewing tommorow so fingers crossed.
 
Make sure the Agent checks that people who bid have Mortgage approval for the amount and he receives this in writing from the lender.

Contact your Legal guy and also make sure he has everything in line.

This may help with cutting down the time to get your hands on the cash.

Where are you selling and how much ?
 
Not sure if I should say but 2 bed apt north county dublin desirable area for around 315k
 
psygnosis said:
I am currently selling my apartment and trading up to a 3 bed house. The house will be ready in Feb.
The apt has been on the market for 2 weeks and I have got 6 viewings should I be overly worried that it will sell in time.
What is the average time scale to sell? Bridging is going to be expensive if I need it.
Should I tell estate agent I want a quick sale? Any advice would be greatly appreciated.
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I'd suggest 6 viewings in 2 weeks is pretty good
 
A lot of people are concerned / expecting that stamp duty may be reduced in the budget and may be waiting to find out.
 
You had the viewings. Were there any offers ?.
The central bank say property is overvalued by 14%.
If you get an offer I think you should take it saspo.

Rgds
Billo
 
psygnosis said:
Its 3 weeks now should I be getting worried?
Should I lower the price?
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you might want to use the tool on the Daft Report web site to see what the average time to sell for the area is. Should give you an idea of what to expect! [broken link removed]
 
Six viewings in two weeks really isn't that bad, and I suggest it's premature to drop the price. Discuss with the agent - ask them what else is on and what levels of interest they're attracting. If you've had no offers (which seems implied, but you haven't stated explicitly) and comparable properties are attracting offers, then ask the agent to be absolutely frank with you - is it presentation, condition, price? Dressing a property just a little can pay off (not to mention keeping it agonisingly clean and tidy!), but if it's overvalued in the first place probably won't really help.

But some FTBs in particular are waiting for the Budget (where I think they'll probably be disappointed, but you never know), so there may well be a late surge of activity in early to mid December.

Don't panic - and don't be too frightened of bridging, either. I got bridging at homeloan rates, with the arrangement fee waived, which is pretty good value.
 
Dreamerb said:
But some FTBs in particular are waiting for the Budget (where I think they'll probably be disappointed, but you never know)
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The budget is unlikely to be an issue considering the apartment is priced at €315,000 which is below the FTB stamp duty threshold.

Dreamerb said:
so there may well be a late surge of activity in early to mid December.
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I doubt it, interest rates are set to increase again on December 7th.
 
Hi again,
Thanks guys for all the responses.
I have had no offers to date and no viewings this week either. My new house should be built by February so it is comming quite close.
I will give the estate agent a ring on Monday and as Dreamerb said Ill ask the estate agent to be frank about the property.
I can PM people the myhome page I would just prefer not to have it up on AAM .
Thanks again
 
psygnosis said:
Hi again,
Thanks guys for all the responses.
I have had no offers to date and no viewings this week either. My new house should be built by February so it is comming quite close.
I will give the estate agent a ring on Monday and as Dreamerb said Ill ask the estate agent to be frank about the property.
I can PM people the myhome page I would just prefer not to have it up on AAM .
Thanks again
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Don't put it up on AAM! You never want a prospective buyer to know the seller is anxious - keep your cards close to your chest!
 
CelloPoint said:
Don't put it up on AAM! You never want a prospective buyer to know the seller is anxious - keep your cards close to your chest!
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Absolutely.

A friend of mine a number of years ago heard someone was desparate to sell a house. He went in with a low offer(below what he was prepared to pay) and wouldn't budge because he knew the seller was desparate and got the property very cheap.
 
psygnosis said:
House prices in the same area are priced the same,
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For me in current market bridging finance is higher risk than cutting the price. For example in the UK bridging finance is very rarely used as it is seen as high cost and high risk option. It reduces your bargaining position in a slow market.

If you think a 1% or 2% cut would do the trick then do it now. You do not have alot of time between now and February.

Note there will almost definitely be another interest rate rise in December.
 
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