New builds - haggling for extras

simples23

Hi Folks,

Quick question (any help would be greatly appreciated!).

If I were to reserve a new build at asking price, would it be possible to still haggle for extras etc before any contracts were signed and exchanged?

The new builds I'm looking at appear to be decent value (turnkey) and the estate agents don't seem to think the developer will take less than the asking price.

Therefore, to ensure we reserve a property we like we were contemplating reserving at asking price and then maybe haggling later for extras.

Just wondering if anyone has any experience of this?

Thanks

wymondham

Is the reservation fee refundable?

Surely if you put a reserve down that shows you're 'committed' to buying it and they are less likely to entertain haggling as you're likely to buy anyway?

simples23

Yep, the fee is refundable.

Thanks!

borkid

simples23 wrote: »

Hi Folks,

Quick question (any help would be greatly appreciated!).

If I were to reserve a new build at asking price, would it be possible to still haggle for extras etc before any contracts were signed and exchanged?

The new builds I'm looking at appear to be decent value (turnkey) and the estate agents don't seem to think the developer will take less than the asking price.

Therefore, to ensure we reserve a property we like we were contemplating reserving at asking price and then maybe haggling later for extras.

Just wondering if anyone has any experience of this?

Thanks

We got a reduction when we bought a new build off plan after putting down a reservation fee but it was a relatively small company we were dealing with.

simples23

When you say off plan, what does that mean?

Also, who did you ask for the reduction from - the estate agent or the builders themselves?

We're looking extras rather than a reduction in price.

Thank you!

borkid

Off plan:- the house wasn't built we just saw the plans and bought from those.

We dealt directly with the builders. We were negotiating with the sale of our house and needed a reduction to sell so asked the builders to meet us half way which they did.

For extras just ask the builders. We wanted a double oven rather than a single which they gave us as they fitted double ovens in other properties.

wymondham

simples23 wrote: »

Yep, the fee is refundable.

Thanks!

then I suppose it all hinges on how well they are selling..... if there is a queue behind you then they will be less likely to negotiate!

chappers

simples23 wrote: »

and the estate agents don't seem to think the developer will take less than the asking price.

Yeah right!!! never heard that one before.
Don't be so sure, nothing to stop you putting in an offer.
Also as others have said how are they selling, what sort of extras are you thinking of. If they are willing to give you extras you would be better off negotiatiing that cost off of the asking price, due to the saving over the lifetime of your mortgage.
Do all your negotiations before handing over any money whatsoever.

hazyjo

Agree with chappers. Don't trust the EA lol! If it helps, go along to the office on site - bound to be one. It's easy to think you may as well pay the asking price cos you can't get whatever percentage off, but even a thousand pounds goes a hell of a long way when it comes to buying stuff for the house!

As above, do all your negotiations before putting down money. Can't see them wanting to give a discount after agreeing a price!

Remember they're trained to negotiate hard (EAs and developers), so try and get a list together of what you'd like included/upgraded before going in.

Is it one of the first in the development, or last, etc? If middle, they're probably less likely to negotiate. If first or last, generally more likely to get a deal.

Definitely try for something off the asking price... that's what will count in the long run!

Jx

Mobeer

Once you have paid a reservation fee, then you have very little to haggle with. If you refuse to proceed with the agreed price and details then I would expect the builder can refuse any refund, as you would be responsible for the deal falling through.

Negotiate first, before handing over any money. And negotiate on price not extras; then you can see how much money you can afford to spend on extras.