would you take this deal

zaffi

Been offered what seems like a good deal on a new build flat in Edinburgh. Flat won't be ready till october missives would need to be signed within 21 days of reserving and we're putting our place on the market beginning next week.

this is what's been offered, flat price £170000

Sweetners:

Unconditional missives for 8 weeks after reservation
Stamp Duty paid
85/15 shared equity - however we would own the flat outright and simply pay the builder back over 10 years, this has been offered at interest free
Carpets throughout
Integrated Washing machine
Additional fitted wardrobe in second bedroom
Plus choose bathroom and kitchen style, tiling, worktops etc.

Never bought a new property before, and definitely not off plan.

How does this sound for an off plan deal? would you take it or push for more?

any feedback appreciated
zaf

mrsmchapman

Just slightly off, do you have to pay a deposit? also what would happen should you not sells your property quick enough?

zaffi

mrsmchapman wrote: »

Just slightly off, do you have to pay a deposit? also what would happen should you not sells your property quick enough?

yes a deposit is required minimum 5%

if we don't sell by october or whenever the flat is ready, we will have to buy it and will own two properties

Supadupa

Difficult to comment without knowing the area, size of the property etc.

I have a flat in Edinburgh that I looked into selling a few months ago and when I got the estate agent round I discovered that they thought it would sell for less than 10% of what the home report value would be and then estimated it would take 6-8 months to sell. I would bear this in mind if you really need yours sold quickly and for a good price in order to be comfortable in your new place.

zaffi

Supadupa wrote: »

Difficult to comment without knowing the area, size of the property etc.

I have a flat in Edinburgh that I looked into selling a few months ago and when I got the estate agent round I discovered that they thought it would sell for less than 10% of what the home report value would be and then estimated it would take 6-8 months to sell. I would bear this in mind if you really need yours sold quickly and for a good price in order to be comfortable in your new place.

we don't currently live in Edinburgh, and have had our house valued and know what we can expect to get for it, we live in rural Strathclyde, two houses on our street are under offer having both been on market for < 3 months

new flat is on newhaven road and roughly 680sqm