When you sell your property there are a multitude of factors that will end up influencing the result you achieve;
The amount of living space on offer
The condition and presentation
The part of the road you’re located in
The proximity to station and shops or schools
Whether you can extend the property easily
But there’s so much more at play that’s going to influence the result, that isn’t necessarily influenced by your property.
How many other properties in the immediate area are on the market just like yours? How many have sold recently? Do you have a marketing strategy based around this? How is your agent conducting viewings? Do they have a process to deal with offers?
When we launched Braxfield Road there was just one similar property within a ¼ of a mile listed as available.
It had been on three weeks when we launched so it seemed reasonable to assume that it had already had the majority of viewers through its doors.
We decided to pitch Braxfield Road with a high asking price, due to the Chronic lack of stock at that moment on the market.
25 viewings booked
8 offers received
Due to the demand we decided to employ a best offers process and asked all interested parties to submit their best offer with their mortgage agreement, their proof of deposit and their Solicitor details.
7 further offers were received, and the winning bid was in excess of £810,000.
However, sometimes due to having lots of competing properties, you have to start with a lower price and a different strategy, much like we did on Burrow Road in SE22, and a fantastic result was managed there too.