Taylor Wimpey - making an offer

stevee81

Hi all,

I've visited a number of homes of Taylor Wimpey sites in the North East and have found one property that my partner and I both like.

They are asking £265,000 but I am honestly clueless as to how realistic this is and how aggressive I should be in making an offer.

Are their starting prices generally high? I'm just trying to weigh up what I should consider offering and how cheeky I should be.
The sales person on site said this 'was the last plot on sale' but then I'd expect her to say that.

Any previous experiences on starting prices / how much leeway they have?

Thanks!

gazzabboi

Depends on how long it is until completion, if it won't be built until next year they won't be in any rush to sell. Last year you may have got a good 8% ish off, but now I think you will be looking at paying closer to asking. Push for carpets n vinyl and 5k off. Things are selling well at the min
Ideally you would want it under 250k, but I can't see it happening.

dafman

I've recently had an offer accepted (2 weeks) ago. The house is not yet built but looking for a Dec completion. I'm a FTB and currently renting, this I think puts you in a strong position as they don't have to mess around with part ex or waiting for you to sell. I'm using help to buy also.

I got 15k off the asking price, all flooring throughout £5k and fully inter grated kitchen with fridge freezer, washer and dish washer £3k

I would ask what is on offer first, the carpets and flooring will be thrown in first. Offer £250k or £258 inc stamp both these deals are effectively the same.

gazzabboi

dafman wrote: »

I've recently had an offer accepted (2 weeks) ago. The house is not yet built but looking for a Dec completion. I'm a FTB and currently renting, this I think puts you in a strong position as they don't have to mess around with part ex or waiting for you to sell. I'm using help to buy also.

I got 15k off the asking price, all flooring throughout £5k and fully inter grated kitchen with fridge freezer, washer and dish washer £3k

I would ask what is on offer first, the carpets and flooring will be thrown in first. Offer £250k or £258 inc stamp both these deals are effectively the same.

How much is your house worth though? And location?

dafman

gazzabboi wrote: »

How much is your house worth though? And location?

It was on the market at £285k in Hampshire

matt1987

dafman wrote: »

I've recently had an offer accepted (2 weeks) ago. The house is not yet built but looking for a Dec completion. I'm a FTB and currently renting, this I think puts you in a strong position as they don't have to mess around with part ex or waiting for you to sell. I'm using help to buy also.

I got 15k off the asking price, all flooring throughout £5k and fully inter grated kitchen with fridge freezer, washer and dish washer £3k

I would ask what is on offer first, the carpets and flooring will be thrown in first. Offer £250k or £258 inc stamp both these deals are effectively the same.

Thats probably not a bad deal as you are making use of the help to buy, which i believe incures a further cost to the developer.

I shall be watching this thread with interest as im looking at a new home that isnt built yet, all plots had sold, however a few have become available, and i suspect many more will too. The house e'v seen is at £245k, but our max budget is £220k. We have a house to sell, but the new homes wont be built until December so im not worried about this ( we could move in woth family if we sell before ).

Im wondering if they would go down to £220k with flooring and kitchen appliances. Id probably have to use the help to buy as i dont think id have any luck getting a new build mortgage at 90% LTV anywhere else?

Matt

dafman

matt1987 wrote: »

Thats probably not a bad deal as you are making use of the help to buy, which i believe incures a further cost to the developer.

I shall be watching this thread with interest as im looking at a new home that isnt built yet, all plots had sold, however a few have become available, and i suspect many more will too. The house e'v seen is at £245k, but our max budget is £220k. We have a house to sell, but the new homes wont be built until December so im not worried about this ( we could move in woth family if we sell before ).

Im wondering if they would go down to £220k with flooring and kitchen appliances. Id probably have to use the help to buy as i dont think id have any luck getting a new build mortgage at 90% LTV anywhere else?

Matt

No cost to the developer, but restricts you on cash incentives so no stamp or fees paid. This does give you greater opportunity to negotiate a straight price reduction. Be careful of the lender also as I believe Nat west allows no incentives at all. If you use the developers IFA I believe they prefer to arrange with Natwest so then the sales agent is in a great position to say they can't give you anything.. This happened to me at first, great for the price deduction bit, I then took a break, called my own IFA and organised a AIP with Nationwide which allowed 5% in incentives. I then negotiated incentives on top of the price deduction.

matt1987

dafman wrote: »

No cost to the developer, but restricts you on cash incentives so no stamp or fees paid. This does give you greater opportunity to negotiate a straight price reduction. Be careful of the lender also as I believe Nat west allows no incentives at all. If you use the developers IFA I believe they prefer to arrange with Natwest so then the sales agent is in a great position to say they can't give you anything.. This happened to me at first, great for the price deduction bit, I then took a break, called my own IFA and organised a AIP with Nationwide which allowed 5% in incentives. I then negotiated incentives on top of the price deduction.

Ahh maybe im getting confused with another scheme? I know one of them involved the builder to stump up a "security" bond to the bank should the buyer end up in financial troubles and wasnt able to pay the mortgage anymore.

Yeh iv heard of the incentives business. Think the banks are being a bit naughty by not allowing incentives. Il have to keep my eye out for that.

Matt

gazzabboi

dafman wrote: »

It was on the market at £285k in Hampshire

About a 6% reduction, not bad. Must just depend on location, I was offering £190k on houses at £200, I must of had about 6 different offers with different developers, but nobody were interested, they were saying they don't need to reduce as everything is selling. Best I managed in the end was £195 with carpets. (Essex). I think prices are more likely to go up soon. I'd say op has no hope of getting £25k off