New build, paying 75% - can we still negotiate?

Beckycb

We've recently found a new build property thats currently priced at £170,000. The only way we could possibly afford this property is by taking up the builders 25% deposit paid scheme where by we take a mortgage for the remaining 75%. Is there any room for negotiation on the price when purchasing via this scheme? Has anyone mananged to negotiate down successfully, seeing as it is a "buyers market" say to 160-165000 for this property?

terrierlady

you know you can get shot at dawn for making an offer dont you!!
Does anyone pay full price for a home now adays?:j

Andy_Hamilton

I know for a fact that offers of 75% have been accepted without the 25% share having anything to do with the deal.

epz_2

new build houses round our way loped about 30% off their prices recently and these are big(ish) 4beds in a glasgow suburb so not your typical 2bed city center flat fodder.

make an offer

geoffky

250 four beds new are round here going for 190k if you are prepared to bargin...i still said no....

Beckycb

Thanks for your comments - we're real notivices when it comes to this so all your feedback is great.

The property has 3 bedrooms and is in the East Midlands, where house prices are particularly high so new builds seem to be the only way forward for us first time buyers with small savings.

In terms of making an offer, what would be a realistic percentage to bargain down? And does anyone have any tips on how to avoid hard sales tactics?

Andy_Hamilton

Offer 75% then let them sit with your offer for a week or two.
Even if they say absolutly no chance say, "please think about the offer and get back to us".
Remember that they hire people to sell houses, the less they sell for hurts them so be aware if buying off plot that somethings become an extra which you expect normally, stuff like showers and lawns are normally the first to become "extras"

joepubli

Would be great to have some ACTUAL information re new build discounts in south east. The ones I am looking at came on market about 6 months ago and the maximum they want to offer is 10%. Doesn't seem anywhere near enough.

If you have actual bought one or kno someone who has bought one perhaps you could share the %ge discount.
Joe

terrierlady

Use the property web site, property snake, type in your post code and see how much prices have fallen in your area, then offer that or just below!

Natty082

Beckycb wrote: »

Is there any room for negotiation on the price when purchasing via this scheme? Has anyone mananged to negotiate down successfully, seeing as it is a "buyers market" say to 160-165000 for this property?

Hell yes there is room for negotiation! Don't offer 160-165K they will snap your hands off and laugh all the way to the bank!

We are oop north so don't know how the market differs but we have just done the 75% / 25% deal. We got 48K off the original asking price, stamp duty paid, legals paid and carpets! And we still felt a bit robbed! But decided to go for it anyway

Get in there and bid them in the you know whats and if they say no.... walk away........ we did and they came back to us the week later ..........

GOOD LUCK