New Build Part Ex - Do you have any clout with bartering the price down?

lovemotown

Hi Newbie here, (but been lurking for ages)

I was beaten to a new build part ex with a builder who accepted a cash buyer over me (fair enough). I am now waiting to see if other houses on the development drop further as every single house of the design I'm looking at is unsold. That to me says they are well overpriced.

I have read for days on here about the pros and cons of part ex, but would like to know how much clout, (if any) you have on a part ex new build when trying to "barter" the price down?

The builder is advertising 5% deposit paid (6k and presumably for cash sale) or part ex option, (but no mention of any reduction).

I've already had my house valued by x 2 EA's for this company and the builder offered me - 12% off of market value. Whilst I accept that market value is nothing like saleable value, I get the impression that any builder offering part ex feels they are doing you a big favour, (which to some degree is true in the current market). However, they won't entertain any reduction on the house you want to buy and would have to pay them what they are advertising at.

Now my understanding from reading on here is that all new builds are actually worth 20-25% less than advertised price.

I do know that if they were to knock say 20k off of a 220k I would be interested but just don't feel I have any "clout" to barter the price down, when they wouldn't even budge on my house valuation when trying to get ot up higher.

Any suggestions/tactics?

Many thanks

geordiescouse

Hi, I wwnt through the motions of a part ex earlier in the year, they offered me £21k off their price. I eventually got this down to £31k but didn't proceed. I am curently looking at another but don't expect to get a discount as it's already reduced by quite a lot. However, I will be asking at what price are you offering to sell your plot to me? And also asking about carpets etc.

Mini_Bear

Sister in law is in process of part ex. the valuation came back 30k lower on the new house they are building, and the survey showed the land is built on a landfill site. the builder refused to drop the price anymore and they are proceeding despite the familys concerns.
Is there no way you can sell your property privately for perhaps 15% off peak and then go to the builder with an offer. its like buying a new car - trading in your old one will always give you less negotiability (ooooooh new word).

lovemotown

Rather than beat down the price with the builder, I may just have to sit tight and see if they drop the prices themselves.

If they don't, then my next plan of action is to try and sell my house and have already sussed out a specialist EA who market's to sell at a reduced price/discount.

I know then that I am in a strong position to drive the price down.