Persimmon Price Drop - Not Exchanged

stator

Are you fully aware of all the risks of buying a new build property?


Please don't think that buying new build means you won't have problems.

Viki2410

Hi Stator,

Yes we have looked into it for about a good few months before we decided to go ahead. There will probably be problems, but that could be said for any home. It's a risk we're willing to take.

Just to update, I spoke to the Sales Manager last night for our area and they have given us a £3k credit on finishing touches. They also offered us a move to a different plot if we wanted it, but went for the credit option.

Thanks for all your help everyone.

getmore4less

What % of properties are under offer?

Looks like they are keen to keep that sold and the sale price high.

You did say if you drop the prices again I will be back.

Viki2410

Hi getmore4less

Out of the 73 properties on our phase, only 10 are currently unsold. None of the houses are due to be ready until May at the earliest, so approx 85% of the houses are sold. 4 out of the 6 of our style of house are part of that 10. I think that is because ours falls in the "middle range" as there are 3 story houses approx 30k cheaper, and 5 bed approx 40k more expensive.

In the long run, a small drop in price is what we expected anyway, plus will help us when paying back our H2B equity loan.

Yes I did say to them that we would have to re-look at this again if they did drop the prices before the move.

Thanks

sunleychops

Glad I've seen this thread, first time poster and stumbled across this on google.

We reserved a Persimmon home yesterday that was at £274,950

Today the exact plot we have reserved is up for £269,950 on the website

Now don't get me wrong we did get carpets and vinyl, full height tiling in the bathroom and heated towel rails as extras plus £1k towards legal fees.

Do you think I'm in a position to raise this? The only reason I feel like I should is because its literally the plot we reserved yesterday not the one next door or a 'less desirable' one

Any advice be greatly appreciated

macman

If the price had gone up by £2K, would you feel obliged to pay the developer the extra? You agreed a price, but until you exchange contracts, everything is negotiable.

getmore4less

Viki2410 wrote: »

Hi getmore4less

Out of the 73 properties on our phase, only 10 are currently unsold. None of the houses are due to be ready until May at the earliest, so approx 85% of the houses are sold. 4 out of the 6 of our style of house are part of that 10. I think that is because ours falls in the "middle range" as there are 3 story houses approx 30k cheaper, and 5 bed approx 40k more expensive.

In the long run, a small drop in price is what we expected anyway, plus will help us when paying back our H2B equity loan.

Yes I did say to them that we would have to re-look at this again if they did drop the prices before the move.

Thanks

That's almost sold out.

Developers like to wind down the sales office, if they can nail these last 10 sales they can potentially reduce the hours/staffing on site or just focus on selling the next phase.

They may also need to look at relocating the sales office and sell off the show houses if the next phase is a different mix.

Viki2410

Hi Macman,

As I mentioned before, no I wouldn't be happy to pay an increased price, but as you say, everything is negotiable until the contracts are exchanged and what persimmon have agreed is a drop in the ocean to them.

Thanks

sunleychops

Just quick update, Spoke to Persimmon today who were very apologetic and instantly offered to drop the price to the £269k

I know they get a lot of bad press but fair play to them for this imo

cjv

The price of identical properties on the development I am buying have actually just been increased by around 6%! obviously makes me feel very good about the price I agreed when I reserved off plan.

Does anyone know if a developer will ever try and increase a previously agreed price? I have been issued the MOS, arranged my Mortgage etc. so I would assume that is the price I will pay.