Builder assisted sale?

WATTY1978

Hi

we have just accepted an offer on our house after being on the market just a few weeks. we were offered the asking price immediatly. being this close to christmas we didnt expect to sell. now we need to find somewhere to go.

We have a couple of properties shortlisted and have viewed. one in particular is a builder assisted sale. this is where i need some advice.

The property is empty because it has been taken in part exchange for a large new build. it is now in the hands of a large developer.it is an older property. marketed at £195k in july and reduced to £180k a couple of months ago.

Were now in a position to offer but we have little experience in buying from developer. i am guessing they will want rid of the property because they arent in the business of older property management. its been on their books six months now. Surrounding properties dont generally sell for this kind of price with the exception of peak of market. it is extended and decorated well.

Its a three bed but downstairs is extended and seems out of proportion which may put larger families off. Doesnt have a bath just two shower rooms.

my question is does £160k starting offer sound reasonable?

Does anyone know what levels of discount can developers generally offer?

Any insider info or general advice welcomed.

david29dpo

Treat it the same as any other sale, start low and work up if needed.

Johnandabby

As the post above says, start low. But also remember that it's a company selling, who will almost certainly have a minimum limit written down. And they won't have any 'personal feelings' to persuade them to sell at a much lower price, ie no dream house that they might lose, no panic that there might be another 6 months until another buyer arrives.

We bought a part exhange house in 2006 - the developer bought it for £230k, it went on the market (and empty) for £220k for 1 year, then they reduced it to £215k and we only managed to get them down to £210k which is what their written limit was.

But you never get anything without asking!

neas

Will a builder assisted sale actually change hands on land registry?

I think i viewed one as all services disconnected and in 9 months just one drop of 10k. Blatantly overpriced by 30-40k... and had issues with garage having no planning permission.

put cheeky offer in and rejected. I believe it will sit there for another year at least.

Fortheloveofmoney

We've just bought a new build and part exchanged our old house. The builders put our house on the market for 210K which was about the right level and accepted an offer of 205K.

A friend of ours has just bought a property off a developer that was taken in part exchange and she got about 20K off a 250K price tag.

I think it's worth a cheeky offer as you won't hurt their feelings or insult them. It's a business transaction so they will just say no if it's too low.