advice please - barratts v taylor wimpey

Procrastinator333

property.advert wrote: »

I don't agree with this high price registration malarky. They want a high price because that means more money than a lower price ! It ain't rocket science.

Think it through then. Yes ultimately it is the profit they make that is key. But if they can get a high price for that first sale on the land registry it a) means they can point that out to future buyers and b) when others that follow get a mortgage valuation there is something comparable and favourable. I would wager that is worth something to them. Though probably not a huge amount and this will still be the most expensive way to buy a house.

Also, not sure what your advice actually was, other than ask for everything. Great advice.

brit1234

property.advert wrote: »

I don't agree with this high price registration malarky. They want a high price because that means more money than a lower price ! It ain't rocket science.

No they want the highest price so it can be used as a bench mark on the land registry. They have always done it. It was very evident during the peak of the housing bubble when they used gift deposits to commit vast land registry frauds. The full price was registered despite the buyer getting 10-20% off as a gift deposit.

Its the same with shared ownership/equity properties after the gift deposit clamp down. The full value is always registered despite the buyer not paying that much.

hyposmurf

brit1234 wrote: »

Its the same with shared ownership/equity properties after the gift deposit clamp down. The full value is always registered despite the buyer not paying that much.

Not sure if thats the case with shared ownership as my property which is SO was regsitred as the portion I paid not its full value and all the other SO properties in the road were also registered as the portions the purchasers paid.

i-luv-free-stuff

ok thanks all
i will see what happens later!

terrierlady

market price = Forced sale price about 80% of on the true on the market price because both sites starting off they need bums on seats be open with them tell them its a choice between who ever pays the most for part exch you get no where, the deal is in extras you can get carpets upgrade kitchens /appliances garden turf etc let them chase you , they need sales you dont need them, get a figure from estate agents but beware that they use same agents.
THE BEST deals are done with no part exch so think about selling yourself.

i-luv-free-stuff

terrierlady wrote: »

market price = Forced sale price about 80% of on the true on the market price because both sites starting off they need bums on seats be open with them tell them its a choice between who ever pays the most for part exch you get no where, the deal is in extras you can get carpets upgrade kitchens /appliances garden turf etc let them chase you , they need sales you dont need them, get a figure from estate agents but beware that they use same agents.
THE BEST deals are done with no part exch so think about selling yourself.

i just know m wife is going to go in over keen, she wanted to go in at 10am when the site opens in case all the best plots go straight away!

brit1234

hyposmurf wrote: »

Not sure if thats the case with shared ownership as my property which is SO was regsitred as the portion I paid not its full value and all the other SO properties in the road were also registered as the portions the purchasers paid.

Have a check here:
http://www.nethouseprices.com/

I checked dozens of shared ownership flats in Reading and one possibly two were at a lower price whilst the other 100 or so were registered full price.

i-luv-free-stuff

well that was a waste of time.
the 4 beds were IMO well over priced and there was no mention of reducing the prices. also they had only released a very small section of the houses maybe around 10-20% of the total development , im just hoping after the 1st day interest that it dies down and they release more houses and prices soon but people were in there literally buying houses! one guy was on the phone saying he can get the money transfered this week!

brit1234

Your better getting an older house, you get more for your money.

I would avoid Wimpey and Barratts, both overpriced, poor quality and small dimensions.

thescouselander

I recently visited a Barrats development. I have to say I was not impressed. You can forget any of the incentives like part ex - we were told that sort of thing was only available once the roof was on the house.

The sales people were extremely pushy and came out with all sorts of nonsense suggesting that their house prices are about to rocket but the value of our house might go down so we'd better buy immediately. They were also suggesting all plots would be sold very quickly so we shouldn't wait.

I can see why they'd do that though. When the show houses are up it all looks very nice but once the rest of them go up it becomes apparent that the houses are built very close together and the outside space is extremely limited. I went to one Barrat development that was almost impossible to drive round because many of the cheaper houses had no parking and the very narrow streets were lettered with cars as a result.

I agree that older houses are better value. Also, because they're cheaper it might be possible to save a bit of money for refurbishments etc.