Being played

jimakos

I'm currently looking to buy a new flat. (1 bed)
I made an offer on a new build which I quite like. Its quite small but its really nice. close to work and good(ish) area.
I was going for an identical flat 2 stories up which was asking 265k. I offered 240k but I never got a reply. 3 days later i called to see what was going on and i was told it sold for alot higher than my offer.. (fair enough) so i left it there..

About a week later I got a call from these people saying that a flat (2 stories down) fell through and it became available again. This is asking 249k (with stamp and legal fees payed). I was "hinted" by the agents to offer 230 and so i did (without getting the incentives)..
No more than 30 mins later it got rejected (which i think is where i started being played) and was told it was too low.. they wouldn't even accept 235k.. So me liking the place i offered 240k final offer.
I made the offer on friday, and only got replied to today (tues).
I also found out that they didn't even send the offer till late Sunday. (as they were expecting more offers during the weekend).
I was called by the "head office" of the developer saying that 240 is too low. They also told me they rejected a cash offer of 245. My response (naturally) was to tell them that its absolutely ridiculous.. asking 249 and rejecting 245 (being played again, im pretty sure there was no such offer).

All 1 bed flats in the complex sold for 245 (some slightly bigger and on higher floors) from sept-oct 2008 looking from the land registry entries.

I then said that im not prepared to pay anything more and I ended it there.. Their response was that if anything changes they'll let me know.

Am I being unrealistic with my offer? From my point of view, the price should have fallen and 240 should even include all incentives.

These guys know i really liked the place and trying to squeeze every penny from me. The only reason the flat is available (last one) is due to the fact the previous person couldn't get a mortgage on it (also lost his 1k reserve fee). Lenders are very very picky with new builds nowadays (deposits, max number of floors and such).

Doozergirl

I don't know what you expect. If you want a better deal from a developer then you have to play them at their own game. It does mean waiting - they will play you harder than any owner occupier - especially as you've already offered 240 on another flat!

The prices don't drop because you say they do. A friend lives on a new build development. He said the flats there dropped in price a while back but they've put them back to where they were!
:wall:

You're in there. If there is more money to be saved then they will contact you.

At least you're not calling them apartments

jimakos

I'm just worried that if they do eventually sell for a bit more.. was I wrong not to offer more? Anyway.. anything more than 240k is really stretching it.

lynzpower

Where the heck are these flats, I cant even imagne they are in london as London property has tanked through the floor. ermm....

Are you sure you really want to buy this as you say "its really small"

Doozergirl

That's your decision! You are in control of that!

We all have to face that it might sell to someone else if we're not prepared to pay the price given at any point in time. You decide on whether it's worth what they want or indeed whether you can afford it and offer accordingly.

You must know you'll find something older for less money. Have you looked hard?

jimakos

The flats are in london.. walking distance from the city...
As i said.. they are small, but they are kind of pimped But on the other hand.. even 240 is pretty steep for a 1 bed. But it was the max i was prepared to pay.

I could get a different (still new build) 1 bed flat further down the road.. (not so good area tho, surrounded by ex-council high rise buildings) for a bit less.. and its nearly double the size.. Pretty good internally, but the smaller one is much better

lynzpower

Is it that Leman street development that theyve started boarding up?

jimakos

leman street developments are nutters.. they want ~495k for a 1 bed!

QTPie

Doozergirl wrote: »

At least you're not calling them apartments

You've met my mother then? :rotfl:

QT

lynzpower

jimakos wrote: »

leman street developments are nutters.. they want ~495k for a 1 bed!

no wonder they have started boarding them - I did hear of someone offering 280 though and getting accepted then pulled out. They are depserate, altohugh this is not someone I know it is a rumour. Ive also heard they are very small LOL

Im not going to nag you, but I know a fair amount about tower hamlets new build. The vast majority of it is overpriced and poxy.

All I will say on the matter is if it is the development ( can you call it that?) on Westport street, PM me.

jimakos

not westport