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New builds - making an offer

2

Comments

  • C_Mababejive
    C_Mababejive Posts: 11,668 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Why would they reduce it? Someone will pay what they are asking soon. Many Brits want a house at any price.
    Feudal Britain needs land reform. 70% of the land is "owned" by 1 % of the population and at least 50% is unregistered (inherited by landed gentry). Thats why your slave box costs so much..
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Crashy_Time wrote: »
    Wait until HTB ends, then start offering low, they may be more interested then.

    2021. :think:
  • comeandgo
    comeandgo Posts: 5,930 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    You don't offer on new builds the same way as you would on private deals. You risk being seen as someone who can't afford the new house. You may be lucky and get a few thousand off but if anyone else after the house and they are less hassle than you they will get it.
  • CarlyE
    CarlyE Posts: 14 Forumite
    Ok. Thanks for the advice. I was under the impression that offers on new builds were fair game. Just like other older properties.
    I must have been mis informed. Thank you anyway to everyone that replied.
  • [Deleted User]
    [Deleted User] Posts: 0 Newbie
    Part of the Furniture 1,000 Posts Photogenic
    Having just been through the new build game...


    The only plots with big ticket offers seem to be units they can't shift. I.e. plots that no one bought off-plan so are already spec'd and priced at top dollar. As an example we were offered £20k of one...


    Cheers
  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
    10,000 Posts Seventh Anniversary Name Dropper
    C_Mababejive wrote: »
    Why would they reduce it? Someone will pay what they are asking soon. Many Brits want a house at any price.


    Less and less do it seems?


    http://www.nationwide.co.uk/~/media/MainSite/documents/about/house-price-index/2017/Aug_2017.pdf


    Of course it is the banks that pull the strings of most people when offering on property, and most cash buyers are going to drive hard bargains in this market. Best bet at the moment is just to sit back and watch the developers struggle IMO.
  • Kidder81
    Kidder81 Posts: 98 Forumite
    Fifth Anniversary 10 Posts
    I guess it depends on the particular estate but from what I've seen, people are paying asking price for houses on new builds off plan, some without even seeing the style of house on another development. It's buying completely blind and the estate I've seen is being sold that quick, they'd never consider an offer below asking price.
  • ReadingTim
    ReadingTim Posts: 4,087 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Crashy_Time wrote: »
    Less and less do it seems?

    The share price and dividend yield from the likes to TW, Persimmon, Berkeley etc suggest they're doing alright without needing to 'negotiate' with potential buyers too much...
  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
    10,000 Posts Seventh Anniversary Name Dropper
    ReadingTim wrote: »
    The share price and dividend yield from the likes to TW, Persimmon, Berkeley etc suggest they're doing alright without needing to 'negotiate' with potential buyers too much...


    Yes, some companies were doing "more than alright" before the dot.com bust as well, property is a pure Ponzi waiting to crash now IMO.
  • ReadingTim
    ReadingTim Posts: 4,087 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Crashy_Time wrote: »
    Yes, some companies were doing "more than alright" before the dot.com bust as well, property is a pure Ponzi waiting to crash now IMO.

    There is too much invested in property, in every sense of the word, for that crash to realistically happen, no matter how much you want it.

    If, in the unlikely event a "crash" does ever occur, I would suggest it's in response to something pretty catastrophic, and in which case, we'd probably all have far more serious things to worry about.
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