We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Getting money off a new house
Lady_Lea
Posts: 25 Forumite
This time of year is crutial to a lot of developers
Right now there is enough time to complete and be in before xmas if you have nothing to sell and your mortgage already in place. You are in a perfect negotiation postition.
How do you negotiate a deal?
Well you would be well advised to get as much as you can on a new build deal. You can often get lots of extras thrown in – particularly at the developers year end - like now for lots - when they are more desperate for sales.
You need to be aware of how the game is played if you want to be taken seriously – so heed these points:
Every property has 2 prices in the marketing suite / show home.
1 - the one on the price list you can see
2 - the bottom line figure that the sales person has and can accept without clearance.
However there is also a 3rd figure, and that is the figure if the sales negotiator has to call the Sales Manager to get a deal agreed that is beyond what is on the sales negotiators sheet.
Getting to the 4th figure is where you want to be – the figure where the Sales Director, the guy that sets the budgets has!
So how can you get to that 4th figure?
One of the ways you COULD get a silly offer accepted is to go in a few times, showing you are seriously interested in the property / development, but not comfortable with the prices.
Tell the sales negotiator you want to make a provisional reservation – one that is “subject to Director’s approval” – and that you would like to fill out a reservation for Plot X and place a check in their hand for £1000. Tell them that if they can’t agree the price today, it is fine, you can wait, but you would like her to put across the top of the reservation form PRICE SUBJECT TO DIRECTOR’S APPROVAL – so that it covers her in her job and you for a refund on the reservation cheque.
So it is their call to put the deal through – can you really see a sales director turning away a £1000 cheque? Well, they may do – but it was worth a try.
EXTRAS
So you may have got a good price, or you may not have even got that far – but even lets say you are happy with the price – do you really want to be shelling out on new things for your home when you have just moved in?
Top 20 things you MAY have to buy that you may not think about
1. Curtain Poles
2. Curtains
3. Nets / Blinds
4. Loo roll holder
5. Towel rails / Dryer
6. Cutlery Draw Trays
7. Light bulbs
8. Door hooks
9. Wardrobes / Hanging space
10. Carpets / Lino /Underlay / Door strips
11. Shower for over the bath
12. Shed / Outdoor storage
13. Rotary drier for garden / washing line
14. Patio Slabs
15. Turf
16. Fencing panels
17. Extra keys
18. Fireplace / Fire
19. Shelving for airing cupboard
20. Water filter
All of these things add up – and only a handful of developers include turf / fencing now.
Main TIPS for negotiation
And these are serious tips – take it from me – a sales negotiator
• If you are flexible with your time, find out when the developers year end is – leave it till 6 weeks before the end of year end to make silly offers up to 20% below asking price … or get as much as you can thrown in – they sometimes move the earth to get a deal through just to hit year end targets.
• Before you put in an offer chat to the sales negotiator 1st, get them on your side as a friend, that way she will do more for you. The nice you are … the more she will do.
• NEVER put an offer in 1st time you go ….. If you go back, the sales negotiator will feel relieved that you did, and will try hard to keep you. If you offer on your 1st visit, you look desperate.. Putting the sales person in a better position.
• Put firm offers in of between 5% and 15% below the asking price – BUT don’t offer right away as above. Talk the deal through, all that’s included – then go for the kill at the end. Make it sound like you are slightly uninterested, but that you would go for it at the right price. Don’t spin a story about having others to look at – sales people will block you then, and you will just get their backs up.
• As you maker a offer – get your cheque book out – look like you are REALLY ready to reserve. The sales negotiator will not want you to put the cheque book back in the bag.
I ve been in property 14 years - but only seen this side since the end of the summer ...... you really can get a good deal if you put in time and be really really really nice to a sales negotiator
last tip - and most important
Part of the sales negotiators job is to collect leads / visitors details - you make her job easy and she will be more likely to make yours!
Right now there is enough time to complete and be in before xmas if you have nothing to sell and your mortgage already in place. You are in a perfect negotiation postition.
How do you negotiate a deal?
Well you would be well advised to get as much as you can on a new build deal. You can often get lots of extras thrown in – particularly at the developers year end - like now for lots - when they are more desperate for sales.
You need to be aware of how the game is played if you want to be taken seriously – so heed these points:
Every property has 2 prices in the marketing suite / show home.
1 - the one on the price list you can see
2 - the bottom line figure that the sales person has and can accept without clearance.
However there is also a 3rd figure, and that is the figure if the sales negotiator has to call the Sales Manager to get a deal agreed that is beyond what is on the sales negotiators sheet.
Getting to the 4th figure is where you want to be – the figure where the Sales Director, the guy that sets the budgets has!
So how can you get to that 4th figure?
One of the ways you COULD get a silly offer accepted is to go in a few times, showing you are seriously interested in the property / development, but not comfortable with the prices.
Tell the sales negotiator you want to make a provisional reservation – one that is “subject to Director’s approval” – and that you would like to fill out a reservation for Plot X and place a check in their hand for £1000. Tell them that if they can’t agree the price today, it is fine, you can wait, but you would like her to put across the top of the reservation form PRICE SUBJECT TO DIRECTOR’S APPROVAL – so that it covers her in her job and you for a refund on the reservation cheque.
So it is their call to put the deal through – can you really see a sales director turning away a £1000 cheque? Well, they may do – but it was worth a try.
EXTRAS
So you may have got a good price, or you may not have even got that far – but even lets say you are happy with the price – do you really want to be shelling out on new things for your home when you have just moved in?
Top 20 things you MAY have to buy that you may not think about
1. Curtain Poles
2. Curtains
3. Nets / Blinds
4. Loo roll holder
5. Towel rails / Dryer
6. Cutlery Draw Trays
7. Light bulbs
8. Door hooks
9. Wardrobes / Hanging space
10. Carpets / Lino /Underlay / Door strips
11. Shower for over the bath
12. Shed / Outdoor storage
13. Rotary drier for garden / washing line
14. Patio Slabs
15. Turf
16. Fencing panels
17. Extra keys
18. Fireplace / Fire
19. Shelving for airing cupboard
20. Water filter
All of these things add up – and only a handful of developers include turf / fencing now.
Main TIPS for negotiation
And these are serious tips – take it from me – a sales negotiator
• If you are flexible with your time, find out when the developers year end is – leave it till 6 weeks before the end of year end to make silly offers up to 20% below asking price … or get as much as you can thrown in – they sometimes move the earth to get a deal through just to hit year end targets.
• Before you put in an offer chat to the sales negotiator 1st, get them on your side as a friend, that way she will do more for you. The nice you are … the more she will do.
• NEVER put an offer in 1st time you go ….. If you go back, the sales negotiator will feel relieved that you did, and will try hard to keep you. If you offer on your 1st visit, you look desperate.. Putting the sales person in a better position.
• Put firm offers in of between 5% and 15% below the asking price – BUT don’t offer right away as above. Talk the deal through, all that’s included – then go for the kill at the end. Make it sound like you are slightly uninterested, but that you would go for it at the right price. Don’t spin a story about having others to look at – sales people will block you then, and you will just get their backs up.
• As you maker a offer – get your cheque book out – look like you are REALLY ready to reserve. The sales negotiator will not want you to put the cheque book back in the bag.
I ve been in property 14 years - but only seen this side since the end of the summer ...... you really can get a good deal if you put in time and be really really really nice to a sales negotiator
last tip - and most important
Part of the sales negotiators job is to collect leads / visitors details - you make her job easy and she will be more likely to make yours!
Lea Beven - Property Mentor & Entrepreneur
Money can be made again and again, time - once it is spent, is gone forever.
Those that make best use of their time have none to spare
Money can be made again and again, time - once it is spent, is gone forever.
Those that make best use of their time have none to spare
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.4K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.3K Work, Benefits & Business
- 604K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards