Early bird reservation - Redrow

bclark

This may be a shot in the dark but has anyone got any experience of the early bird reservation scheme with Redrow, or similar with another house builder?

Basically you can reserve a particular plot before its released for £500 and then when it comes up you get first refusal or your money back if you don't want to proceed. Now on the face of it that seems like a no lose way of making sure we get the plot that we want but there may be hidden problems?

One issue I am wondering is whether or not this could affect your bargaining position when it comes to negotiating the price.

Any experiences in practice would be appreciated.

DiscoCat54

Hi there. I did an early bird reservation with Redrow but sadly my house didn't sell in time. My understanding is that because it's a first refusal it doesn't affect your bargaining power as negotiations don't start until your house sells. They have a no quibble return policy should your property not sell and my £500 was refunded within a week.

bclark

DiscoCat54 wrote: »

Hi there. I did an early bird reservation with Redrow but sadly my house didn't sell in time. My understanding is that because it's a first refusal it doesn't affect your bargaining power as negotiations don't start until your house sells. They have a no quibble return policy should your property not sell and my £500 was refunded within a week.

Thanks for the response. That sounds positive then as we really do only like a couple of plots so it would be good to reserve one.