My wife and I have just completed (woohoo) on the sale of our flat and what a year it’s been. We originally put it on the market back in January and had 4 valuations - £360,000,£380,000,£380,00 & £425,000 (an amazing £65,000 difference!). Anyway not to be greedy we decided to try and sell it for £380,000. At the time (well in our eyes) we didn’t expect the property market to crash but even then we thought we were playing it “safe”. Anyway, after the first few months the estate agent only managed to get a couple of people through the door and so we decided to drop the price to £359,000. Another month went by and we then changed estate agent as it wasn’t working out. In the mean time the press (who really haven’t helped the situation) just reported doom and gloom. We finally dropped the price to £345,000 and actually sold the place through a private sellers site called http://www.roofandwalls.co.uk for £332,000 .. so that’s £93,000 off the highest valuation! On that note the estate agent said we couldn't sell through RoofAndWalls but they were wrong as they (the EA) weren’t classified as the Sole Seller (otherwise we would have been liable for the fees!) So we accepted the offer and it still took 3 months to complete and that’s with no chain involved!! I’m sure if you got everyone involved in a room for the afternoon we could have sorted it all out there and then! Anyway, we’re out of the property game for a while, renting .. it’s the future!
Good luck to anyone who’s selling!