New Builds and Part Exchange

oggy1511_2

micflair wrote: »

Ahh right I get it mate. Did you actually make a cheeky offer or did you just go through with it at the price they wanted?

I really am in a situation where the equity in my current house (about 15k) will be wiped away if I take a low amount for the part ex, my savings + equity is all needed for the deposit so I can get at least a 20% mortgage on the new place, so a lot depends on there offer for my house, and then me blagging them down by a fair bit also. Im planning on using there half year figures as a good bargaining chip, if they dont play then its fine - Ill just stay where I am and save up a bit more. Im not getting myself obsessed with this house.. well maybe just a bit.. haha

Hi Micflair no we didnt make a cheeky offer as we wernt really in a position to do so as we need the house quick as we both move in june and need somewhere to live. The first offer they made was really cheeky as they only offered 63758 for ours and hubby said no way so then head office phoned back and then offered 68,000 instead in which we took as it was only 4 grand from asking price. See our equity in our house is 50 grand so we are in a really good position so dont need a massive mortgage. Hope this helps you any questions just give us a shout
Oggy

micflair_2

oggy1511 wrote: »

Hi Micflair no we didnt make a cheeky offer as we wernt really in a position to do so as we need the house quick as we both move in june and need somewhere to live. The first offer they made was really cheeky as they only offered 63758 for ours and hubby said no way so then head office phoned back and then offered 68,000 instead in which we took as it was only 4 grand from asking price. See our equity in our house is 50 grand so we are in a really good position so dont need a massive mortgage. Hope this helps you any questions just give us a shout
Oggy

Question number 1) Can you lend me some of your equity?

If I get the full equity in mine and my savings I should have 30k, times are bad when you have 30k in your pocket and you cant get a good deal. I put 3k down on my first house back in the day, not much longer than 13 years ago, crazy.

oggy1511_2

micflair wrote: »

Question number 1) Can you lend me some of your equity?

If I get the full equity in mine and my savings I should have 30k, times are bad when you have 30k in your pocket and you cant get a good deal. I put 3k down on my first house back in the day, not much longer than 13 years ago, crazy.

Hi Sorry but no to your question lol we only bought it for 24,000 14 years ago. We wouldnt be moving but we need to due to hubby getting promoted at work lol
Good Luck

micflair_2

oggy1511 wrote: »

Hi Sorry but no to your question lol we only bought it for 24,000 14 years ago. We wouldnt be moving but we need to due to hubby getting promoted at work lol
Good Luck

Worth a shot.

Its motivating to read stories of builders taking 20%+ off there asking prices. My friend recently bought a new build, it was up for 225k, they offered 205k and was accepted - only for there surveyor to pop up and say it was only worth 200k, so they got another 5k knocked off.. Id have then offered them 180k, but hey ho..

Jo_Mc_2

oggy1511 wrote: »

Hi Jo_Mc thanks for that well we have accepted offer had the survey done on our new build filled in all solictor paperwork just waiting on surveyor coming to survey our house we in now. Did anything come up in your survey on your old house and if so did you have to get the work done yourselfs.
Thanks again
Oggy

Nothing at all came up, that we were told about anyway. Our old house was 80+ years old and although we'd done a lot of work we had a big concern over the roof (it was unfelted and the cement which bedded in the tiles was falling away in big chunks so there were a few tiny leaks although nothing to cause us any problems). I was worried sick about it, especially as the surveyor came around just after it had been raining and mentioned he could see water on the underside of the roof and asked if we'd had problems with leaks . I was convinced this would devalue the house, making the new build unaffordable, or a condition of the sale would be for us to replace the entire roof.
But no, it was all okay.
Hope everything works out for you.

MeShell

We've now had our offer from Bovis so i thought i'd update for those that might be interested.
I should explain that our property was on the market for 3 weeks recently at £146,995 but was taken off after our estate agent terminated the contract after a disagreement over the photos (i kid you not!) we were looking to accept offers around £140-142k (we paid £142k for it in 2004)
Apparently the estate agents have told them that they should offer between £125-130k to sell in 4 weeks but they have decided to offer £135k as they feel that might be more acceptable to us. We now have to decide if we can afford the house (currently at £196,995) and make them an offer.
The sales guy (the go-between) said that as long as we keep mentioning we will complete by the end of June we are still in a good position and not to write them off or be too disappointed just yet.
We've made it clear we arent interested in carpets as we know somebody that does them who will do us a deal and that money off the price is what we need as we are not increasing our mortgage (110k) but paying the difference in cash and obviously we have a limit.
The sales guy said if it was him he definitely wouldnt offer more than £190k although he couldnt guarantee that it would be accepted- I think this might be just a little high for us though so will probably call tomorrow with the offer of £185k and see what they say.
He did say if you dont ask you dont get which i suppose is true- just hate the awkwardness of it all!!!
Macflair do let us know how you get on with Barratt- im almost certain we are staying put where we are for the time being
Phew sorry i waffled a bit there!

WelshNic

MeShell if they're offering 7k off your asking price I would say they're expecting you to offer at least that off theirs, which is why their guy is saying don't go above 190k. I'd see if you could get it for 180k with June completion guaranteed.

I'd be tempted to disregard what your agent has told them considering your relationship - and make sure they know the background.

Best of luck

micflair_2

Ok guys and gals, update time.

I have my house on the market at the mo at 80k. Today Barratts phoned me up and said they would offer us 72.5k for our house, and drop there price of 151k to 140k.

I told them to sling it as I wouldn't have enough money for a decent 20% deposit then due to losing equity in my house (I paid 83k for it 5 years back, putting down 13k of my own cash with it). The sales chick asked me how far off we was, I told her I would need about 6k either way to make it work, she said she would ring back..

So she rung back and said they would offer 75.5k for my house, but would not move on the 140k for there house as they had already knocked 11k off the asking price, I said I would have a think about it and get back to her. I also asked her if they would throw carpets in for that price, as I was going to be spending every penny I had on the deposit, she said she would see what she could do..

So my question is this - do I play hardball with them and tell them unless they knock a few more grand off the price of the house to forget it all, or do I just go for it.. decisions decisions..

oggy1511_2

Jo_Mc wrote: »

Nothing at all came up, that we were told about anyway. Our old house was 80+ years old and although we'd done a lot of work we had a big concern over the roof (it was unfelted and the cement which bedded in the tiles was falling away in big chunks so there were a few tiny leaks although nothing to cause us any problems). I was worried sick about it, especially as the surveyor came around just after it had been raining and mentioned he could see water on the underside of the roof and asked if we'd had problems with leaks . I was convinced this would devalue the house, making the new build unaffordable, or a condition of the sale would be for us to replace the entire roof.
But no, it was all okay.
Hope everything works out for you.

Thankyou jo we are just waiting for the surveyor to come now.

oggy1511_2

MeShell wrote: »

We've now had our offer from Bovis so i thought i'd update for those that might be interested.
I should explain that our property was on the market for 3 weeks recently at £146,995 but was taken off after our estate agent terminated the contract after a disagreement over the photos (i kid you not!) we were looking to accept offers around £140-142k (we paid £142k for it in 2004)
Apparently the estate agents have told them that they should offer between £125-130k to sell in 4 weeks but they have decided to offer £135k as they feel that might be more acceptable to us. We now have to decide if we can afford the house (currently at £196,995) and make them an offer.
The sales guy (the go-between) said that as long as we keep mentioning we will complete by the end of June we are still in a good position and not to write them off or be too disappointed just yet.
We've made it clear we arent interested in carpets as we know somebody that does them who will do us a deal and that money off the price is what we need as we are not increasing our mortgage (110k) but paying the difference in cash and obviously we have a limit.
The sales guy said if it was him he definitely wouldnt offer more than £190k although he couldnt guarantee that it would be accepted- I think this might be just a little high for us though so will probably call tomorrow with the offer of £185k and see what they say.
He did say if you dont ask you dont get which i suppose is true- just hate the awkwardness of it all!!!
Macflair do let us know how you get on with Barratt- im almost certain we are staying put where we are for the time being
Phew sorry i waffled a bit there!

good luck meshell