New build up for £125K, offer £120K Taylor Wimpey said NO!

jmt

We went to look at some new build properties at Mawsley, Kettering yesterday and saw a new 2 bed that we liked - http://www.rightmove.co.uk/property-for-sale/property-24731047.html?includeSSTC=true&_includeSSTC=on&pageNumber=4&backToListURL=%2Fproperty-for-sale%2FMawsley.html%3FincludeSSTC%3Dtrue%26_includeSSTC%3Don%26index%3D30

The sales rep told us it had just come back on the market due a 1st time buyers mortgage offer being pulled. The property is ready to move into, no waiting. The asking price was £135,995 but this allowed for a deal and I believe a gifted 5% deposit and £500 towards legals.

The property has been reduce to £124,995 and we placed a cash offer of £120,000 with completion in 5 weeks. The sales rep thought it was a good offer as a similar resale property with a garage is under offer for £124,995.

Are you as surprised as I am that they rejected our offer?

Milliewilly

I would have offered even less for cash.

silvercar

Wait for the phone call.

jmt

Milliewilly wrote: »

I would have offered even less for cash.

We did think about £116K, but with not a lot for sale and properties under offer within a matter of weeks we thought £120K would be about right.

silvercar wrote: »

Wait for the phone call.

Problem is we are going on holiday next week for 3 weeks over Easter, and I don't usually bother with my phone - I'm on holiday and I hate seeing others on mobiles by the pool

puddy

phone them just befor eyou go to see if they have reconsidered

they're idiots, the FTBs mortgage obviously got pulled because the valuation came in less

PasturesNew

Ask for some freebies, £5ks worth. They're interested in how much it shows as selling for on the balance sheet and the LR. Work out what stuff they can supply you with/pay for that'll effectively appear "off the sheet".

jmt

PasturesNew wrote: »

Ask for some freebies, £5ks worth. They're interested in how much it shows as selling for on the balance sheet and the LR. Work out what stuff they can supply you with/pay for that'll effectively appear "off the sheet".

I'm not really sure this will work - it is already fully carpeted with ceramic tiles in hallway, cloakroom and kitchen and the kitchen has fitted appliances.
The garden is turfed - it really is ready to go.

jenner wrote: »

they're idiots, the FTBs mortgage obviously got pulled because the valuation came in less

Sales rep told us that the buyer had a late payment on her mobile phone and this showed up on a credit check so they withdrew the mortgage offer

RenStar

Something similar happened with us at a Taylor Wimpey site in Oxley Park in Milton Keynes - they had a 4 bed on offer for £259K. We offered £250K (to minimise stamp duty) as were STC at the time and the said no and wouldn't even do any other deals. The house was also already built and ready to move into. I was shocked and thought they'd come back after a week or so begging but someone else bought it a couple of days later. And now the new ones on release are being marketed at £270K! I guess if the area is considered desirable, developers will be in less of a hurry to do deals. It just goes to show that you can't generalise as the market is different depending on where you are. OP - I do hope you find somewhere else. We have put the experience down as the 'not meant to be' kind.

puddy

dont believe it, she couldnt go somewhere else? they couldnt have offered he a lower LVT? rubbish

jmt

jenner wrote: »

dont believe it, she couldnt go somewhere else? they couldnt have offered he a lower LVT? rubbish

Perhaps I am a bit too trusting, but I usually like to think that people tell the truth.

Fire_Fox

jmt wrote: »

The property has been reduce to £124,995 and we placed a cash offer of £120,000 with completion in 5 weeks. The sales rep thought it was a good offer as a similar resale property with a garage is under offer for £124,995.

jmt wrote: »

Problem is we are going on holiday next week for 3 weeks over Easter, and I don't usually bother with my phone - I'm on holiday and I hate seeing others on mobiles by the pool

These two sentences make no sense, you aren't going to complete in five weeks if neither the developer nor your solicitor can contact you to discuss any problems! I think your five weeks is optimistic, you seriously think you can agree all the terms of the same, start the conveyancing AND pack your suitcases in the first week, then exchange, complete, organise removals AND unpack the week you get home?