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Negotiate price on new build

Can you do this...

We have sold our house to a first time buyer, they have had survey done and are looking to complete before March.

On Saturday we looked at a new build on the market for £199950, what would be the best form of attack to get this price down and get 'extras' added into the price?

Not having done this before would like some advice from all the kind folks on here.

Thanks in advance
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Comments

  • macaque_2
    macaque_2 Posts: 2,439 Forumite
    Can you do this...

    We have sold our house to a first time buyer, they have had survey done and are looking to complete before March.

    On Saturday we looked at a new build on the market for £199950, what would be the best form of attack to get this price down and get 'extras' added into the price?

    Not having done this before would like some advice from all the kind folks on here.

    Thanks in advance



    My apologies, my first effort was missdirected. I don't think you have made an offer yet. Go for the jugular and offer 40% below the asking price. Explain that this is the discount that new builds are enjoying in auction.
  • No we haven't made an offer yet, we have an appointment to see the sales negotiator on Saturday 22nd Dec.

    We went last Sat to have a look around and went into two different style properties on their site and we like/ prefer the more expensive of the two.

    Thanks again
  • hearts
    hearts Posts: 1,191 Forumite
    macaque wrote: »
    My apologies, my first effort was missdirected. I don't think you have made an offer yet. Go for the jugular and offer 40% below the asking price. Explain that this is the discount that new builds are enjoying in auction.


    Nice approach give the guy a good laugh then start the real negotiaitions. In truth it depends on how the market is doing in your area. How saught after the properties are and how long they have been on the market.
  • The properties we looked at were what is left from phase one of the site, they have just opened phase 2 for reservations.

    The two houses we viewed have carpets already fitted and cooker (and hood) but nothing else really, not even burglar alarms.

    What should we be asking for them to include? I thought alarm, dishwasher, stamp duty and removal costs as a starting point, anything else?

    Thanks again
  • BTW, they started building 14 months ago and they have around 15 properties left from phase 1 out of original total of approx 50.

    The young Girl we spoke to briefly on Sat told us they have 19 completions going through this week, hence why she couldnt give us an appointment until Sat.
  • Rover
    Rover Posts: 323 Forumite
    You are in an excellent position.
    Builders, the larger the better, are the easiest people to negotiate with.
    Yes you will easily be able to haggle a decent discount - honestly.

    Personally wouldn't bother 'free extras', negotiate a decent price reduction.
    Quoting negative equity, etc.
    anger, denial, acceptance ;)
  • lypsey
    lypsey Posts: 201 Forumite
    Personally , I would advise renting for 12 months and buy your new house 20% less.

    Put your equity in the highest paying bank account you can find

    The market will be 50% lower in 5 years time , why pay 200k at the TOP of the market???
  • terrierlady
    terrierlady Posts: 1,742 Forumite
    dream on, 40% discount id buy one myself!!!!!
    alarm cant be fitted once 2nd fix has taken place unles its wireless.:rotfl:
    my bark is worse than my bite!!!!!!!!
  • Personally , I would advise renting for 12 months and buy your new house 20% less.

    Put your equity in the highest paying bank account you can find

    The market will be 50% lower in 5 years time , why pay 200k at the TOP of the market???

    My goodness!!

    I am looking forward to the coming 'correction' as much as the next 'doom monger', BUT if the OP has found a house they like, in an area they like and they can negotiate a discount and can comfortably afford the repayments, then why wait 5 years?

    The.real.me sounds like they are looking for a home for themselves and if all the boxes can be ticked as above, then they should go for it.

    Am I hoping for a nice big crash so I can get myself and my partner on the ladder: HELL YES
    Do I think people should put their life on hold for 5 years so they MIGHT save a bit of money (After all we don't know how far they WILL fall): Definately Not.
  • Rover
    Rover Posts: 323 Forumite
    alarm cant be fitted once 2nd fix has taken place unles its wireless.:rotfl:
    I beg to differ madam, I suggest you limit your advice to dishes and ironing:rotfl:
    anger, denial, acceptance ;)
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