New Build buying advice

BASFORDLAD

tek-monkey wrote: »

Imagine if you'd done this last year...

lol perish the thought

peld

We actually checked the prices on nethouseprices and they were going for much higher last year, although a few exchanged on lower than the asking price earlier this year (and what we will base our offer on).

tek-monkey

I thought they were a new development?

peld

tek-monkey wrote: »

I thought they were a new development?

They have built about 30 of the 45 houses, id say 25 are lived in. Its only built by a small developer so they are building it in phases of about 8 houses. I think the first residents probably moved in earlier this year, and most exchanging back in mid 2008. The earliest price on nethouseprices was Feb 2008 (most were May-Oct 2008).

barnaby-bear

peld wrote: »

Hi there, this is my first post despite reading these forums for a long time!

My gf and I have been looking at houses for a while but owing to the market, and our lack of deposit, haven't done much about it. We have mostly been looking at new builds owing to some of the offers (deposit matching etc).

We have just found a small estate (just outside Edinburgh) that we are very keen on, as it offers everything we'd need at a very decent price. The estate is about 45 houses (all 3/4/5 bed detached) and run by a reasonably small developer.

This is SCOTLAND - signing of missives, not quite the simple not exchanging issue, offers to buy are a lot more binding north of the border.....

BASFORDLAD

barnaby-bear wrote: »

This is SCOTLAND - signing of missives, not quite the simple not exchanging issue, offers to buy are a lot more binding north of the border.....

thats why i mentioned they could be sued if they pulled out. Its rather different then in ye old england

terrierlady

what developer would take your reservation when you are not proceedable, ie you have properties to sell most builders i know will only take res from people who exchange contracts within 28 days from your sols receipt of the sale contract.mayb its differant in Scotland?

peld

terrierlady wrote: »

what developer would take your reservation when you are not proceedable, ie you have properties to sell most builders i know will only take res from people who exchange contracts within 28 days from your sols receipt of the sale contract.mayb its differant in Scotland?

We don't NEED to sell either of our current properties to fund the purchase of this house and the builders have already said that they would be happy to delay missives until around march next year if we were to reserve now so that is not an issue.

We've had a look at other properties on the market in the area and know similar properties are going for around 210k-220k so we don't see how they expect to sell for 10k more than this in the current climate so we could use this as a starting point for negotiations. We also know that they have recently sold another similar house on the same development for 220k so reckon we stand a reasonable chance.

DVardysShadow

peld wrote: »

Thanks for that wonderful helpful input (along with your other post in this thread).

If you don't like it, ignore it. It ain't your thread, it is a thread you started. If you are not willing to accept others takes on your situation, then don't start the thread. I thought the input was very apt.

dopester

peld wrote: »

We don't NEED to sell either of our current properties to fund the purchase of this house and the builders have already said that they would be happy to delay missives until around march next year if we were to reserve now so that is not an issue.

If you bought, and all went smoothly, and you moved in once built... what would you do with your two other properties that you don't need to sell.

Rent them out maybe?