Bellway Won't Negotiate...bizarre excuses!

m22kk56_2

After getting a first part ex offer from bellway, I asked to negotiate and was told 'no'...!!

They gave me some bizarre reasons which include; -

1. There is legislation that means we can't reduce our price or offer further incentives - couldn't clarify exactly what legislation though!
2. Giving incentives, or reducing our price, would cause a problem with a survey meaning a mortgage may not go through
3. Money laundering laws have been tightened so we can't reduce prices like we used to.

Number 2 isnt relevant to us as we have 40% deposit without bellway help.

I understand you don't get the best deal on part ex, but the house we wanted to buy was built 6 months ago and hadn't sold, the development is nearly done too so I thought they'd at least negotiate. Wouldn't even give me carpets!!

Thought I'd share, be good to get any thoughts from those in similar position?

becominganobsessivesaver

We tried a cheeky part ex offer with bellway in similar circumstances. They gave their final offer, we walked away, 4 minths later when we sold our house it had just gone. Such a shame, or not in our case, as we sold our house for the price we'd have got on part ex, but bpught a second hand, much bigger house on the same estate for the same money. I can see the house we offered on from our window, and I am so relieved that fate led us away!

Good luck, but my advice is to try and sell withput the part-ex and you'll have so many more options!

TrickyDicky101

m22kk56 wrote: »

After getting a first part ex offer from bellway, I asked to negotiate and was told 'no'...!!

They gave me some bizarre reasons which include; -

1. There is legislation that means we can't reduce our price or offer further incentives - couldn't clarify exactly what legislation though!
2. Giving incentives, or reducing our price, would cause a problem with a survey meaning a mortgage may not go through
3. Money laundering laws have been tightened so we can't reduce prices like we used to.

Number 2 isnt relevant to us as we have 40% deposit without bellway help.

I understand you don't get the best deal on part ex, but the house we wanted to buy was built 6 months ago and hadn't sold, the development is nearly done too so I thought they'd at least negotiate. Wouldn't even give me carpets!!

Thought I'd share, be good to get any thoughts from those in similar position?

Are you still going through with the purchase from Bellway?

m22kk56_2

No I'm not. It's something of a rule for me but I don't buy anything of value unless the seller negotiates on it. I'm going to sell private and I've told them that, but hasn't altered their stance.

DevilsAdvocate1

m22kk56 wrote: »

No I'm not. It's something of a rule for me but I don't buy anything of value unless the seller negotiates on it. I'm going to sell private and I've told them that, but hasn't altered their stance.

I don't think they will alter their stance until your property has sold. Also, towards Christmas is a much better time to get them to negotiate. For accounts purposes, they like to get as many through their book as they can before they close for Christmas. And if the house is already finished and standing empty then you are in a better position again.

Going back 20 years, we managed to get a house up for £73000 reduced to £68000. They also added an alarm, electrics in the garage, electrics in the loft and plastering in the garage. These were all optional extras.

HTH.

Flashmanchop

m22kk56 wrote: »

After getting a first part ex offer from bellway, I asked to negotiate and was told 'no'...!!

They gave me some bizarre reasons which include; -

1. There is legislation that means we can't reduce our price or offer further incentives - couldn't clarify exactly what legislation though!
2. Giving incentives, or reducing our price, would cause a problem with a survey meaning a mortgage may not go through
3. Money laundering laws have been tightened so we can't reduce prices like we used to.

Number 2 isnt relevant to us as we have 40% deposit without bellway help.

I understand you don't get the best deal on part ex, but the house we wanted to buy was built 6 months ago and hadn't sold, the development is nearly done too so I thought they'd at least negotiate. Wouldn't even give me carpets!!

Thought I'd share, be good to get any thoughts from those in similar position?

I am not in my office, but they are pretty much being straight with you. If they start moving figures around they have to be declared to surveyors when valuing your new house, and if they start giving you further incentives the surveyor has to value them.

We, if we have to do a deal we try to only give 5% on value for extras.

geoffky

Flashmanchop wrote: »

I am not in my office, but they are pretty much being straight with you. If they start moving figures around they have to be declared to surveyors when valuing your new house, and if they start giving you further incentives the surveyor has to value them.

We, if we have to do a deal we try to only give 5% on value for extras.

:cool: RUBBISH..

Flashmanchop

geoffky wrote: »

:cool: RUBBISH..

Nope.

Its the same rule for gifted deposits. anything over 5% the valuer basically starts knocking value off what they value the property at. There is also the business case of them having to get rid of the part ex.

Any incentives of any value have to be advised to the solicitors who in turn have to advise the financiers/mortgage lenders of the value of incentives.

£100k house but with £10k negotiated off a part ex and £10k of extras thrown in is worth......

yep, not £100k, and the solicitors and lenders need to know.

I am a housebullder. And a surveyor by trade.

geoffky

Yes that old "secret deals but we still have to give the land registry the full asking price" trick...I know of deals being done with 40k off original asking price..

Flashmanchop

they cant be secret anymore.

if someone knocks £40 large off something it has to be declared. That price -£40k will be the price on the land registry document.

anything different and i would expect a knock on the door from HMRC. i wouldnt imagine it would be a pleasant experience.

Thrugelmir

m22kk56 wrote: »

After getting a first part ex offer from bellway, I asked to negotiate and was told 'no'...!!

If you've approached for a part exchange deal and been offered one. Would you then expect them to start offering less for your property?