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

F_T_Buyer

What offers are people starting with? I'm interested, but only if I can get a certain amount off. They tried to push the shared equity, but I can afford a detached house rather than a flat (big deposit). Prices are already reduced about 15-20% from summer 07.

I might start 15% less, and go from their. What do you think of my chances?

JayneG

Based on my own experiences, you probably won't get the full 15% off, but it's not a bad starting point. We'ended up with just over 5% off, and the houses had been reduced by a similar amount to yours already from peak.

It probably depends on how flexible you are with the plot as well i.e. if you have your heart set on a particular one it is likely that is the one that others will also want, and therefore you may have to pay more for that than an identical house elsewhere on the site.

Only you will know what level of discount you need to make the house worth its price to you as a buyer, and that should be based on all the other houses you have viewed, new and old.

F_T_Buyer

The way I look at it is they are offering many services, such as part exchange, pay your EA fees and all that. Secondly, they have to offer 15% interest free loan to anyone who goes for the homebuy scheme, and that could be for years and years - however, they do get 15% of the house value back when sold.

I'm just a simple FTB, and intend to have about 7.5 - 10k worth of extra's, which they probably make 100% mark-up on. Bearing all that in mind, I would settle of 7.5% off and would walk away otherwise.

I'll try later today.

What happens if you change your mind after paying the reservation fee? Do you just lose your £500??

Yakubu22

Dazsharps wrote: »

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?

New Build -OFF plan!
Pick up the phone and tell them your offer has been recinded! Give them 2 months and I wouldnt be suprised if they call you back and beg for your "Final" offer again.