Advice needed for Purchase of new build

uropachild

Just edited this in case they come a snoopin

poppysarah

Sell your house first and then worry about buying a new build.

uropachild

Thank you. It's a big deal and it needs to be right, so we are fully prepared to stay where we are for the time being.

poppysarah

Doesn't matter how desperate they are to sell if you can not buy.

uropachild

Edited: Sorry, my brain is fried we would do the thing where they help you move or part exchange.

hethmar

I cant see what the NHBC would have to do with it if the firm went bankrupt without finishing the house

uropachild

The sales lady said that we would get our money back if that happened.

zone

They are both 4 bed detached houses so about the same value really. Apart from one of them having an extra ensuite?

The first house you may have a better chance of getting it for £175k or less. The second one it will depend on how quickly they want to shift them because that would be over a £50k discount from asking price. But not impossible; depends on the location, plots remaining and buyer demand etc. When you have sold your own property you will be in a much stronger position to negotiate with the developer.

uropachild

Yeah, they're about the same only the more expensive one has slightly larger rooms.

If i went to the sales lady and laid all our cards out on the table honestly and said...

"Look, we have our house to sell using your easy mover or part exchange schemes and the biggest mortgage we can afford is X. What can you do for us? We're not playing any games back and forth, this is it."

... how do you think that might pan out...?

NoDebtForMe_2

Hethmar: The NHBC covers you if the firm goes bankrupt before they complete the house. Ive defo read about it on there via a link from someone else on here.

Uropachild: Dont go in and tell them all your info. You do have bargaining power when you are part exchanging. It depends as someone has already said what they have left to sell, what interest they have had and the last time they sold a house.
I am in the process of buying a taylor wimpey house off plan and part exchanging my own home. I got a great deal from them. They have even brought forward the completion date from August to May which is brilliant. They have brought in another team of bricklayers to get it completed faster. They gave us a top price for our house and have sold it themselves within two weeks at a price 10 grand below what they gave us. This isnt because they are scamming us for their house as we got 30 grand off the already reduced asking price. I dont care what anyone says, this house was not overpriced as I have looked into what previous ones have gone for and how much similar houses are priced at within the area and it beats them hands down for what we have got per square footage. Im am made up about everything. It has gone really smoothly so far. We exchanged contracts yesterday after putting in an offer etc etc early January. We are even using their solicitors and I feel she has worked very professionally so far pointing out things that needed to be (things that even people on here have highlighted wasnt pointed out to them in their process which have confirmed to me she is working well).
As to what to offer, I started at 170,000 on a 220,000 house.
Sarah x

uropachild

Thanks for your input Sarah (i'm a Sarah too!)

Did you have to walk away at any time and did they come back to you?