Taylor Wimpey changed price on another Plot

Crashy_Time

AdrianC wrote: »

Would you insist on paying the higher price if those remaining plots had gone up?

No, thought not.

A bit harsh, but the OP is lucky it is only 5k IMO.

Crashy_Time

Cakeguts wrote: »

New houses drop in price as soon as you move in anyway that is one of the problems with buying new. If you don't want to pay the premium for a new house buy an old one.

So you think old houses are not going to drop in price?

jonnygee2

I've been in a similar situation: I bought a loaf of bread in the supermarket yesterday morning, yet when I when back just before closing time, they'd been reduced to pennies.

That's not so similiar because you had already ought the bread.

Imagine if you were just on your way to the check out, and you noticed the assistant marking down the exact same bread that's in your basket behind you.

I wonder what you'd do then? :-)

jennhg88

They probably reduced the plot because they hadn't sold it...is it comparable to yours? Is the parking the same? The view? The garden size? etc etc

Mutton_Geoff

Just revise your offer in view of information that has come to light during your pre purchase due diligence process.

I bet they reduced the price hoping you wouldn’t notice.

My other bet is the OP doesn’t come back to check the replies as seems to be very common on these forums nowadays. Machine gun several forums with the question then forget where you posted ;-)

zali87

So thank you to all those with some helpful replies.

The plot next door is exactly the same. When purchasing the house we tried to negotiate on the price but the sales rep advise they do not reduce the house prices because they effect all the other house prices. So we managed to get some incentives with the house.

I understand they are wanting to sell the last couple of plots but I don't agree with them changing the prices and putting all the other buyers at a loss. I will happily accept if the plot next door was offered with more incentives than what we got. I am just not happy at the fact that our house has now been devalued before we have even moved in!

If I cancel my purchase and buy the next door plot they would then have to sell the plot we cancelled at this new discounted price. All they have done then is just caused me to go though the whole process of having to get another valuation and get all the docs changed with our solicitor/help to buy etc.

AdrianC

zali87 wrote: »

Clearly you haven't read my post properly, we have reserved the property no deposit or contracts have been exchanged. If you went into a car showroom and put a reservation fee on a new car, come back a week later to finalise all the paperwork but the exact same model/spec car next to yours was £5k cheaper would you still be happy to pay the full amount on the one you reserved or would you question it?

...and I repeat...
If it was £5k more, would you expect them to honour your price, or would you insist on paying the new price?

zali87

ReadingTim wrote: »

I've been in a similar situation: I bought a loaf of bread in the supermarket yesterday morning, yet when I when back just before closing time, they'd been reduced to pennies. The person on the checkout said they'd ask head office, but I haven't heard back either...

20th Nov 18, 9:57 AM
Clearly you haven't read my post properly. We have reserved the property, no deposit or contracts have been exchanged. If you went into a car showroom and put a reservation fee on a new car, come back a week later to finalise all the paperwork but the exact same model/spec car was £5k cheaper, would you still be happy to pay the full amount on the one you reserved or would you question it?

airandwater

zali87 wrote: »

So thank you to all those with some helpful replies.

The plot next door is exactly the same. When purchasing the house we tried to negotiate on the price but the sales rep advise they do not reduce the house prices because they effect all the other house prices. So we managed to get some incentives with the house.

I understand they are wanting to sell the last couple of plots but I don't agree with them changing the prices and putting all the other buyers at a loss. I will happily accept if the plot next door was offered with more incentives than what we got. I am just not happy at the fact that our house has now been devalued before we have even moved in!

If I cancel my purchase and buy the next door plot they would then have to sell the plot we cancelled at this new discounted price. All they have done then is just caused me to go though the whole process of having to get another valuation and get all the docs changed with our solicitor/help to buy etc.

Don't forget that if a listing price dropped by £9k, they can still sell the next door house with a £30k discount without your knowledge.

When I bought my newbuild I put an offer on the Semi but a few days later the developer offered me the remaining detached house with the biggest plot and best location on the street! You can't control what neighbours are paying or what ever freebies they are receiving.

stator

On a new build house you are taking a massive risk anyway.


The price you are paying is just one that was made up by the developer. What they thought they could get away with. The market hasn't set a price for the houses on that estate yet. When the estate is finished the prices could collapse by 30%. It's not unknown.


They still haven't sold it for £5k less than yours, maybe they'll have to drop the price another £10k before it does sell.


Perhaps you should take this moment to think about whether you want to take the risk of buying a new house. If you're worried about resale value, buying a house in a more established area is recommended.