New Builds - What do you think?

LB25

Hey Guys,

We've got our house sold and mortgage in place and we've seen a new build property which is priced on the builders website at £205,000 but when I called to ask the price they said £185,000.

I spoke to the sales lady and explained that that was a really bad price because it just takes you past the Stamp Duty threshold. I said that the most we could pay was £175k - she straight out refused and said there was absolutely no way.

The house isn't built yet and is scheduled for a June entry. Do you think they'll come back to me or not?

Thanks!

geoffky

Do not put any money down on a place that has not been built...we have at least 30 people on here who are still waiting for theirs and owe far more on them than they are worth due to the falling market. and they are getting sued...i would be only offering 150k at the very very most for a 185k house..

Wickedkitten

geoffky wrote: »

Do not put any money down on a place that has not been built...we have at least 30 people on here who are still waiting for theirs and owe far more on them than they are worth due to the falling market. and they are getting sued...i would be only offering 150k at the very very most for a 185k house..

And that isn't even getting into the ones that have put down their holding deposit, got their mortgage and then have had it withdrawn and aren't going to be able to complete but would lose a lot of money pulling out.

LB25

Thanks! It has already been reduced by £20,000. They have just called back to say that they are waiting on theor sales manager coming back to them but they should be able to do it.

Do you think we should just hold out?

mrluke

need to go over the contract a lot !

get it in there that if not built by a specified date u can pull out and recieve deposit back .

harbinger13

LB25 wrote: »

Thanks! It has already been reduced by £20,000. They have just called back to say that they are waiting on theor sales manager coming back to them but they should be able to do it.

Do you think we should just hold out?

Tell them - your house manager 'aka your wife' just realized 175 was too much - and that you are only willing to pay 160K. Also thank them for their time - to call you back.

zone

They are probably refusing a further price drop at the moment because the houses arent built yet. Not knowing how much demand there will be.

gordano_2

You need to be really careful with new build, prices are always hyped up to make the discounts look good.

If you are buying as a buy-to-let, then I would avoid new build - you will find it difficult to get a mortgage anyway, instead use a company that can source discounted properties form depserate sellers ... such as www.simple2buy.co.uk ... they get deals at 15% to 25% off "todays valuations" ... now thats what i call real discounts!