Well, it’s happening again…we have a lovely client looking for a sensible investment for the long term in South Kensington, SW7. We have found a perfect two bedroom, two bathroom place on a quiet street that fits the bill. It has a small balcony and is close to Gloucester Road. The property was being ‘quietly marketed’ (see previous posts about this) so we were able to move quickly and attempt to secure it without the hulabaloo of a bidding war etc. This morning, it appears that the vendor has an offer from a ‘private source’ for £25,000 more than we were willing to pay.
At times like this, the best thing to do before either dropping out or counter offering is to make sure the maths still add up and that the decision you take is a rational, cold, business based one rather than an emotional one. As property finders, we find it far easier to negotiate on behalf of clients as we can totally detach ourselves from this side of the buying process. The flat is in South Kensington and ticks many of the boxes that investors and end users look for. We would have done brilliantly to have quietly secured the place without any competition and we were hours away from doing so – we will have decide whether it all stacks up so well at a slightly higher price…at 4.3% yield it may be that the price is worth paying, but we shall see….
Property Search in Kensington and Chelsea is never boring..a client has just told me that I need to find her a large, lateral apartment – (budget is flexible) but with a very specific clause in the lease….she must be allowed to keep her African Grey Parrot. She tells me that these birds can live to 60 years old and are the best at mimicking human speech! As an older lady, she insists that if they won’t have her bird, she won’t buy a flat – it’s time to speak to the managing agents of the blocks I’ve identified as being suitable. If you hear a strange noise or comic impressions coming from a window in Kensington, W8, you know who to blame..
www.propertypoint.co.uk – The property finder for Kensington and Chelsea