Put a final offer in and been rejected.... how long should i wait?

Doozergirl

Dazsharps wrote: »

about 2 weeks so far, just dealing with the sales person, but received a letter from her boss at regional office to say they would not be budging any further.

Thanks in advance for your help.

Is there a telephone number for that boss at regional office?

If you can speak directly with them, it will help. You're obviously not that far off. Keep pushing them, you don't need to walk away and wait, you could just keep persisting regularly enough with your offer to remind them that you are there.

Dazsharps

Doozergirl,

Thank you for your reply.

Yes there is a number which i could contact the regional office on.

What would you suggest, just ring them and then say i wont budge on my offer and see what they say?

I have already told the sales woman i will not be returning with a further offer and to keep me on file should their stance change.

plzsm

good luck with this, let us know how you get on, I have recently had 2 BAFO offers on new houses rejected. What I have noticed is that they are prepared to discount still. However not as much as they were doing before xmas. I think they are sitting and waiting. They seem quite confident they will get what they are after. Perhaps its all the media. One even told me they were putting prices up last week (although no sign of that yet).

The other thing that has surprised me is that they dont seem keen on negotiating - I thought as a cash buyer they'd be desperate to make a deal happen - but not so. After each of my offers they just rejected and refused to budge. Even when we were only £5k apart from making a deal happen.

I think you need to decide in your mind what the house is worth. That is what I have done. I could go back with more but in my mind that isnt a good deal. Then you can wait. Again like me. But I suspect I could be waiting a long time as they seem to think the market is now good and they'll get what they are after

good luck with it though !!

Nenen

A few random thoughts just from things I've gleaned over the last couple of years on this board...

How much is the property you are buying? If it is only 100K then 9k difference is much greater proportionally than if it is 400K! I would have thought that the more expensive the property the greater chance you have of them budging, but then again it might be different if they are confident of selling them all anyway. Is the house already complete or are you buying off plan (much more risky for you - see lots of threads about people who have lost thousands doing this)? How many have already sold compared to how many are left? Are you also marketing yours for sale on the open market? Maybe you could get more for it if you do and then be in a stronger position to drive a hard bargain with developers.
Good luck

northerner79

Wait for them to come back to you! Surely they won't lose a sale in this climate for 9k!!

Dazsharps

The house is £225k Nenen, i got movement from them i just need that little bit more.

And it is off - plan but i think if they give it to me for the price i want.. im pretty much covered against any further slide in the market.

They have sold 3 so far but have paid 11 million for the land and they need to sell plots quickly in order to get this back.

Not currently marketing our own on market as wanted to see if i can get them to my price level. Do you think i should put it on anyway?

wysiwyg78

I was just wondering if you managed to get the house for the price you wanted? We have just put in our first offer on a Persimmon property and it was refused, so wondering how to play it. Whether to go in with another offer or not?

I hope you got your house!

Wysi

Dazsharps

I told them that it was my final offer & have not been back to them yet. I am going to leave it a few weeks and see if they come back to me.

Been thinking about it though and i may walk away for good, they are desperate to sell the plots and still not budging for just 9k.

They act like they are doing well when if you look at their books it doesn't read well, especially when i know they paid 11 million for the land they are building on with a 100 plot plan and have sold just 4 houses so far.

What area of the country is the development your looking at mate?

Fire_Fox

The problem is that you are part-exchanging not a cash buyer. The developer will have to shift your house, in the same slow market! 11 million is obviously a fair price for the land or the developer wouldn't have paid it. £9K may not seem like a lot, but multiply that loss by 100 new builds and you get £0.9million ...

wysiwyg78

I'm in Basingstoke. A lot of the houses surrounding this one are already occupied, so I'm not sure that they're having trouble shifting them.

They didn't even come back with a counter offer. We're going to increase our offer slightly and see what they say. We're decided that we only want to go up another £5k in total otherwise we'll feel like we're being ripped off.

I will be upset if we lost it but at this stage I think I'll be able to walk away! I'll let you know what happens later.

Wysi