How much should I offer???

rothers798

Hi, if anyone with any previous experience or anyone "in the know" could offer some advice I would be grateful.

I am looking at putting a reservation fee on a new build house which is priced at £195,995. The builder's incentive is 5% deposit paid, carpets and solicitors fees paid.

When I put my house on the market the estate agent selling told me that I may be able to squeeze a little bit more out of the builder. The person that is buying mine is a first time buyer with a mortgage in place therefore the chain only includes them, myself and the builder.

The houses are due for completion in December and there are still quite a few left.

How much further discount should I ask for and how much, if any, do you think I'll get? What should I say inorder to gain a bigger discount?

Thankyou in advance!!

eco123

I was in the very same situation a couple of years ago & I got an extra 5% off the house price (saved 12k), granted things may have changed since then, but if you dont ask you don't get.

I just told them that I NEEDED the discount in order to proceed. No harm in trying, they can't shoot you for it.

carpetbelly

New Builds are considered by banks as one of the higher risk properties to have a mortgage on mainly as the builders inflate the prices before sale.

Personally, I wouldnt touch one but if it's a property that you really love and want play hard ball. They will want to sell the place and if you're a willing buyer you've got the advantage.

Ask for a LOT more off... Get some showroom furnture thrown in if you want/need it
I had a friend get the plasma tv from the showhome moved into their property as part of the deal. If you don't ask you don't get. You're the one in the good position, just be prepared to stand up for yourself.

rothers798

Thanks for your reply, did you already have a discount and get a further discount or was that your total discount?

Cheers

Doozergirl

I'd put in at £170,000 if you are proceedable and no chain. You have to play very hard and wait for them to chase you, if there are plenty left then you have a better chance of success. I'd tell them that you don't see the house as being worth what they are asking. Keep asking what the lowest is they would accept and then tell them it is too high.

The 5% is fiction anyway so don't even count it in as partof the discount you are being offered. Their asking price is around £186,000 but they've just packaged it up with a pretty bow to make it more enticing to you.

We did it once - got a house on for £309,000 with SD paid down to £249,000 but were in the process of buying somewhere else by the time they agreed. We got our friend to do it - she's been playing the game for months and they finally came back a few weeks ago and said okay! Got a flat at £179,000 down to £155,000. Still probably a bit on the high side but not a total rip off and it's the perfect location for her - hopefully she'll stop in this place, she just keeps getting lulled by cheap houses and moving because the area is rough!

Stuckupahill

I'd also be wary of "solicitors fees and carpets paid for"....offer to pay them yourself - in exchange for v large discount - (you'll only end up with some !!!! from carpetrite and god knows how much they'll have added onto the price for solicitor fees)....
if they're really keen to pay for something ask builders to pay the stamp duty.....