Pepys Street RTM Company Limited

Selling your flat?

Last updated: May 2010

According to Land Registry data, during the last twelve months the highest price achieved for a two bedroom flat at One Pepys Street was £540,000 with an average price of £513,333 being achieved. During the same period the highest price achieved for a one bedroom flat was £365,000 with an average price of £355,000 being achieved.

If you are selling your flat please inform your solicitor that a 'Solicitors Pack' is available from the Managing Agent. This pack answers the standard questions that your solicitor and the buyer's solicitor will need to know when selling your property.

Setting the right price and good presentation are critical to selling your property so consider the following:

De-clutter - don't underestimate the appeal of a tidy property. Throw out the junk - use moving as a good excuse to get rid of old, unwanted and unused items.

Clean - dust and clean the whole property thoroughly from cobwebs on the ceiling to crumbs and stains on carpets and rugs. Remember to wash down paint work and clean windows.

Natural Colours - research shows that most buyers prefer natural earthy colours to bright bold shades. Although there is a wide range of paint colours available, magnolia is still the top-selling colour. Add a bit of colour to prevent rooms looking too bland and use strong colours for cushions and accessories.

De-personalise - remove personal items, such as family photographs and children's drawings, which may distract potential buyers. It may sound harsh but it really helps sell property.

Maintenance - Complete all minor repairs. See here for useful contacts.

Lighting - the right lighting can improve the mood of a room. A room looks cosier with a few table lamps rather than bright general lighting.

Create a scent - it may be a bit of a cliché to bake bread or grind coffee beans just before the arrival of a potential buyer, but scent does plays an important role in creating the right impression.

Open windows - most buyers like the smell of a freshly cleaned and aired room. Open the windows every day to let fresh air into the property.

Avoid strong food odours - don't cook foods such as fish or curry before a viewing as the smell will linger.

Fresh flowers and fruit - flowers and a bowl of fruit will brighten up a room and provide a pleasant smell.

Define your rooms - a property will be more appealing if rooms have a specific purpose as this allows buyers to see the full potential of the property.

Seasons - the best time for selling property is Spring and Autumn; the market slows down during late Summer and over Christmas/New Year. If a property is sold while the market is buoyant, it's much more likely to attract the asking price.

The following Estate Agents offer leaseholders a reduced rate on their sales services as follows:

• Sole agency: 1.25% + VAT
• Multi agency: 1.95% + VAT

Article written by:

John Walsh, Director, Pepys Street RTM Company Limited