Taylor Wimpey pays stamp duty

housebuyer1000

I'm currently in the process of negotiating a house purchase with Taylor Wimpey. The salesman tells me I can have roughly £25K off the asking price of £320,000. He's said this amount could be used in a number of ways. I therefore like to ask them to pay the 3% stamp duty and take another £15K off the asking price. Does anyone have any similar experiences with Taylor Wimpey?

Regards

Julian

brit1234

If Taylor Wimpy are offering you £25k off it is probably overvalued by £50k or more.

Richard_Webster

Why do you think that it is better for you to have £15K off the price and for the builder to pay the SDLT? Your mortgage lender is still going to treat the property as being sold for £25K less when working out its loan to value ratio,

In valuing new property you must look at what similar 5-20 year old properties are going for in the area. In 5-10 years time nobody is going to pay you any more for your house simply because it is 5-10 years old rather than 10-30 years old. It may be reasonable to pay a little more for a new house because of the perceived advantages of newness but that is personal for you and you should not expect the extra to be reflected in the value in the future.

Subber

As a manager within a large property investment company, our asset procurement team recently issued a cease and desist order for all Taylor Wimpey acquisitions. The build standard has dropped dramatically and with the appointment of Dominic Harman in the Midlands region, ex MD for Persimmon Homes we are out for the forceable future.

Carl24700177

housebuyer1000 wrote: »

I'm currently in the process of negotiating a house purchase with Taylor Wimpey. The salesman tells me I can have roughly £25K off the asking price of £320,000. He's said this amount could be used in a number of ways. I therefore like to ask them to pay the 3% stamp duty and take another £15K off the asking price. Does anyone have any similar experiences with Taylor Wimpey?

Regards

Julian

Hi i am buying same site but they only offered 15,000 of the house asking price 350,000 and Nation Wide under valued by 70,000 . Know having to get another morgage company to do another valuation.

JQ.

Carl24700177 wrote: »

Hi i am buying same site but they only offered 15,000 of the house asking price 350,000 and Nation Wide under valued by 70,000 . Know having to get another morgage company to do another valuation.

. . . or better still you could drop your offer to the Valuation, this is a money saving site after all.

sirmosh

Carl24700177 wrote: »

Hi i am buying same site but they only offered 15,000 of the house asking price 350,000 and Nation Wide under valued by 70,000 . Know having to get another morgage company to do another valuation.

What you're doing is crazy, if it's been valued at £70,000 under what you're paying then stop right now! Either buy it for what it's worth or walk away, even if you've paid reservation fees you're better off losing hundreds rather than tens of thousands.

jamesd

Carl24700177 wrote: »

Nation Wide under valued by 70,000 . Know having to get another morgage company to do another valuation.

Um, no. You have that the wrong way around. The RICS surveyor that Nationwide used gave a correct valuation and the seller is giving an inflated one in the hope that a buyer may fall for it. There is some opinion in valuations so you might get lucky (unlucky, really) with a different valuation and new lender.

You can also stick with the original lender and seek another valuation sometimes. Lenders may accept that, or not, depends on the lender and difference. The difference you have is pretty big.

geoffky

Carl24700177 wrote: »

Hi i am buying same site but they only offered 15,000 of the house asking price 350,000 and Nation Wide under valued by 70,000 . Know having to get another morgage company to do another valuation.

Or you could just pay the market price.....why do you want to overpay for your house when someone has told you its 70k overvalued.....they must love you..

kaylz39

Subber wrote: »

As a manager within a large property investment company, our asset procurement team recently issued a cease and desist order for all Taylor Wimpey acquisitions. The build standard has dropped dramatically and with the appointment of Dominic Harman in the Midlands region, ex MD for Persimmon Homes we are out for the forceable future.

Any feedback on Miller Homes ???

terrierlady

Carl24700177 wrote: »

Hi i am buying same site but they only offered 15,000 of the house asking price 350,000 and Nation Wide under valued by 70,000 . Know having to get another morgage company to do another valuation.

make them pay the val fee if you still want the house, there are more homes than buyers so deal hard