Deal time tomorrow - need a strategy

deefadog

Ok, we are hopefully going for a part ex of our house against a Barrett Townhouse, They will be coming back with a price tomorrow!

So i need to prepare my negotiation.

Background - New house price - £239500, What we want for ours - £146000 (on the market for 152000)

This is the last house on the phase one compleation and end of finacial year so they are very keen to shift it (and it's been pulled out 3 times, nothing to do with the house), they have even had us to pick the kitchen out.

The only thing this house does not come with is Carpets, and there the stamp duty.

So if they come back with 145000, what should we go back at them with?

I was thinking of "include carpets and stamp duty, and you have a deal" - but this is only around £5000 off, should i try for more as i have heard of people getting big chunks off in this situation?

Any advice most welcome (Neeed Kirsty Allsop here with me) LoL

Thanks

Doozergirl

I think your idea sounds good.

It is possible to get big chunks off a sale price but if you are part-exing, that will be your incentive, not the cash off, unfortunately. They're taking a big weight off your mind by taking your house

Hope it goes well for you.

deefadog

Thanks doozergirl, yeah they are saving us the estate agent fees, so there£2500 saving already

Barrett's said it's normally 95% of the asking price, so make that £142025 + Estate agent fees = 144525, so it should not be too far off.

But is it going be the case of we up the offer and then they meet us half way? So instead of asking for carpets and stamp and ending up with just stamp, if we asked for stamp,carpets and an extra £3000, then is it more likely they will come bcack and offer us carpets and stamp?

Hope that makes sense

Jorgan_2

The end of the Financial Year bit means you may be able to get more than that off. Can you complete by the end of the finanial year? I had a vendor who bought a new build last June. He was looking for a 3 bed detached, builder had none available but shocked my vendor by offering him a four bed for £3k for than the asking price of the 3 bed. He saved about £25k in total.

Don't be afraid to be a little bit cheeky, if you can move within their timescales.

klaatu

Are you sure it's 95% of the asking price and not valuation? I assume they've had a valuer look at your house? It just seems a bit strange for them to base thier offer on your asking price, which could be unreasonable. I'm not saying it is, of couse, but you know what I mean...

It used to be the case that if you part-exchanged, you only paid stamp duty if the difference exceeded the threshold, so in this case you wouldn't have paid any, but they changed that a few years ago, the swines.

I suspect you won't get anywhere asking for more money, but asking for carpets might be worth trying. You presumably have some feel for how desperate they are!

Steve

deefadog

Thanks everyone

Well the house will not be completed until August, but if we get the right deal we will sign up now!

As long as we get what we want for our house, stamp duty and carpets then we will be laughing because there is no stress involved then, no moving out and renting or staying with relitives etc

To be honest this house is right at the top of our budget, so we will try it on i think, but we really do need the above for it to become possible for us to move. We are not in a rush and have put this forward, we have even told them we can wait untill the end of the year, as there a house we like being built in the second phase of the devolpment!

As for 95% you could be right, it could be 95% of what the survayour comes back with, not what we have it on the market for, but with the huge margins in these houses these days i am sure we can come to a comprimise!

So how should i word this (been terrible at this sort of thing in the past)

Say they come back with - £142000

What is my next move, what should i say?

missile

They are more likely to throw in things with your new property rather than offer more cash on your old. So I suggest you base your strategy on that premise.

Are you a good poker player?

PJD

deefadog wrote:

What is my next move, what should i say?

You've answered your own question!

deefadog wrote:

if we get the right deal we will sign up now

deefadog wrote:

To be honest this house is right at the top of our budget.

(^^^Great one).

deefadog wrote:

but we really do need <145,000+> for it to become possible for us to move

deefadog wrote:

We are not in a rush and have put this forward, we have even told them we can wait untill the end of the year, as there a house we like being built in the second phase of the devolpment

All good arguements IMO.

If you need to repeat the same reasons to them over & over (because they're being pushy) then do so.

Don't be rushed, & even if a fantastic offer is put on the table, ring him back, take your time.

Good luck, look forward to hearing how it goes.

deefadog

I guess i did answer my own

Not a bad poker player I am going to copy and paste on my arguments and have them in point form, so can reel them off over the phone - also they can't see my face

Only problem is that the 2 things on offer are carpets and stamp duty, but we will have to have 145000 to make it possible, everything else is included. Is there anything else i could ask for? maybe leagal fees or something?

clutton_2

if you are doing it over the phone - Brilliant strategy to have a list in front of you - one other tip Stand Up when talking to them - it Truly works !! makes you feel and sound a lot more assertive !!

for sure ask for them to pay for your legals.

deefadog

Good tip, thanks

If there is any more advice out there, please let me know, this is the worst and most brilliant feeling the world, think my head may explode I don't think i am going to sleep tonight!