Buying New Build

ThemeOne

If you buy a new build property straight from the developer, can you make an offer (as you would for other properties) or is it not really the done thing?

csgohan4

You can try and reduce the price or ask for extras such as flooring e.t.c

marksoton

ThemeOne wrote: »

If you buy a new build property straight from the developer, can you make an offer (as you would for other properties) or is it not really the done thing?

You can try. But if the properties are selling well chances are slim to none it'll be accepted.

AnotherJoe

There's more chance you'll get extras either for free or at reduced price because it costs them less. E.g. If extra quality kitchen is list price £3k it probably only costs them £1k so they are more likely to do that for £1k than knock off £2k off the list price. It also hides any decreases in the overall sale price, the houses are still selling at whatever the list price is so that looks good for them.

And as said all depends on how well the estate is selling amd what incentives they need to offer

But by all means ask, it doesn't cost anything. They'll need to think you are serious though, so you'll need to phrase it right " we can puta deposit down now if you can reduce the price by £10k" rather than "do you do any deals"

Mobeer

Always make an offer - but make it sound serious, not just speculative. At worst they say no, at best you save thousands.

ThemeOne

Thanks everyone, really helpful.

kingstreet

A reduction in the purchase price reflects on future comparables for surveyors valuing on the site and most builders are anxious to avoid this for obvious reasons on early sales on a particular site.

Your best chance is the negotiation of incentives which many lenders will accept upto 5% of the agreed price - check your lender's attitude.

If you are buying close to the end of a development; or at the quarter/half/year end for the builder, bargains may be easier to obtain as staff right up to director level are anxious to hit targets and achieve bonuses.