New build developer pulls out?

noopys

I am currently in negotiations with a builder over a new build 4 bed detached.

I reserved the house at 190k, however found out that two similar properties in the development were sold for 180k.

We told the developer this and they firstly agreed then declined when we requested written confirmation.

They are now saying that I have to exchange today or they will put the house back on the market.

I don't want to pay over the odds for the house, especially when someone bought the same house type in october 2009 for 10k less.

Should I tell the builder that I am only willing to pay 180k and risk losing my 1k deposit??? Are they trying to bluff?

Don't know what to do.

Your thought are much appreciated.

Fire_Fox

What did your mortgage valuation come in at? How much do you love the house, you haven't said a single nice thing about it?

Kyrae

From the local development here ive noticed new builds are sold cheaper in the off plan stage and then the price is raised when building starts. Then the price falls again the longer its stood empty once it's complete.

In the end its up to the builder, if houses are selling quickly and they think they can get 190k from someone else then that's how much theyll want for it. Have you looked at house prices for second hand similar houses nearby? That might be the best prices to use to figure out if the asking price is fair.

In the end, try not to care too much what other people paid, what matters is if the price you're thinking of paying is reasonable or not. The other buyers might have got a super deal and you're getting a good deal, or 180k might have been overpriced and 190k is even worse!

And yes, they might be bluffing.

noopys

Thanks for the advice.

Still unsure what to do! Lol

VIGILANT22

noopys wrote: »

Thanks for the advice.

Still unsure what to do! Lol

...........If in doubt, say NO