House builder doesn't want to sell a house !?!?!?

hostman

Hello,

I'm trying to buy a new build on a development which will eventually consist of 73 plots in total, including a bunch of apartments, town houses, detached properties etc. The house builder is willing to accept our house as part exchange and has already confirmed their offer for our house (they have also surveyed it). The problem now seems to be agreeing on the price of their new build. Its advertised price is £165,950. The whole development has recently been heavily reduced (£40,000 from the initial advertised price), one imagines due to poor interest. I initially stated I wanted to pay £150,000. This was flatly refused. I increased to £160,000, again this was refused. They state they can only do the advertised price. I say meet me half way, or advertised price and carpets. It would cost us approximately £2,000 to carpet the house.

I'm hardly being cheeky and offering something ridiculous, so I am perplexed as to their attitude. I'm ready to sign contracts and get moving if they just bloody agree to it.

What's others experiences with new builds?

hostman

Forgot to add the house itself is 98% complete. It needs a final snagging and then its all done, we have already viewed the house.

Doozergirl

Have you spoken to the sales manager or just the salesperson? Try and get higher up.

Asking for carpets thrown in is hardly asking the world.

Ask the sales manager when they would like your reservation fee. And then when they tell you, tell them they can have it today at their asking price with carpets and turf thrown in.

Don't ask them, tell them. Be cheeky with it but friendly. You can't be being cheeky enough right now because you're not asking for much. You can push anyone to that much, honestly.

hostman

Doozergirl wrote: »

Have you spoken to the sales manager or just the salesperson? Try and get higher up.

Asking for carpets thrown in is hardly asking the world.

Ask the sales manager when they would like your reservation fee. And then when they tell you, tell them they can have it today at their asking price with carpets and turf thrown in.

Don't ask them, tell them. Be cheeky with it but friendly. You can't be being cheeky enough right now because you're not asking for much. You can push anyone to that much, honestly.

No, only the representative at the development. I don't want to be calling constantly and seeming overly keen. However, if I don't receive something tomorrow I will be seeking contact details for someone with actual authority to move it forward.

theartfullodger

Forgot to add the house itself is 98% complete

(No offence but,,) In your dreams,,,,...

Nothing is every 98% complete....

However: Either go hard "I'll buy it ASIS @ £xxK" or "£yyk but you must..>".

The old saying is, if they don't cry in front of you when you tell them your final offer you've offered too much...

Cheers!

Lodger

sarah_elton

Wait till it's been complete and empty for a few months, and, if you can, find out when the builder's financial year-end is. Make your offer say 6 weeks before it, and say you'll complete before X date (coincidentally just inside their financial year). That's how a friend of mine got a house originally up for £250k for £168k. :money:

franklee

Surely you won't get the best deals if you part ex as they then have the hassle of selling your house.

Cannon_Fodder

I agree with franklee. They will view the part exchange as a hindrance, that they might yet make a nasty loss on...especially if you view their offer as "reasonable" in the market conditions.

Running_Horse

If as you say, it is a poorly regarded development with low interest, then you are best out of it. If they are taking away the hassle of selling your house, then you must accept you are not going to get the bargain basement price that a cash buyer could command.

hostman

Running_Horse wrote: »

If as you say, it is a poorly regarded development with low interest, then you are best out of it. If they are taking away the hassle of selling your house, then you must accept you are not going to get the bargain basement price that a cash buyer could command.

Its not a poorly regarded development, its a development which started smack bang in the middle of not only a house price crash but a wider recession, so reductions on plots doesn't surprise me.

They have already priced the part exchange in order to protect their investment, they take x % off the agents valuation. If I was a cash buyer I'd be looking at paying less than £150k, so me paying advertised price and wanting carpets is hardly asking for the moon!

lovemotown

If you search my postings, I am in the exactly the same position as you, (and dazsharps).

I am prepared to accept their -12% valuation on my house, but can't get them to budge on their house price. Why should we pay through the nose for their new house when we have taken a hit on our valuation. As we know, if we were cash buyers we would be expecting a quite large reduction down on their house prices.

I am not naive to expect a cash buying % reduction, but something, even for p/x.

I am sat awaiting a call back trying to get a reduction, but don't hold my breath.

It seems that no matter what the climate is, new build p/x want you to give yours away and pay the market price for theirs which are massively over priced. They appear to consider p/x as a "favour" to you BUT you pay full price for theirs.

I will probably go to market soon and will go in as cash buyer, (assuming I sell mine??), and if the house has gone, will go elsewhere.