New Build Offer?

Crashy_Time

SmashedAvacado wrote: »

Builders will want to have more deals exchanged before their year end - if their financial year end is December and you can get exchanged by then, they may take an offer
Builders will want to sell their inventory particularly if the scheme is coming towards the end (is it nearly complete) - if they only have a couple more to sell then they may take an offer
Builders will want good evidence of other sold units on the scheme to avoid deals falling through from weak valuations - so if they have many more to sell, protecting asking prices is more of a concern
Builders will have debt - some of the debt covenants will set out a minimum price - also debt is expensive so if they can get sold, that helps them

Basically there are loads of what-ifs. But if you don't ask, you'll never know.

Good advice, a builder with low sales and high debt might negotiate.

RelievedSheff

AdrianC wrote: »

It depends entirely on demand for THAT property type on THAT development...

Are the properties ready to move in to?

If so, that suggests demand has been low, because they haven't sold off-plan. But being chainless won't help much - a large proportion of new-build buyers are chainless, because of either breaking the chain due to timing uncertainty or because of HtB.

It depends on the developer and the development but on our estate they are not selling off plan and plots are only being sold once a particular batch of plots are released. Some are not being released for sale until the roofs are on by which point it is too late to be picking kitchens and flooring etc, as it has already been ordered.

It is an odd sales tactic, but it seems to be working as the plots are still selling well despite what is supposed to be a difficult selling climate.

nik_k

We didn't get anything off the purchase price, but got stamp duty and legal fees paid. As (after the deposit, valuation fee etc) we had little disposible savings, we agreed with this package as it meant that all the pre-completion outgoings would be covered. Any extras (dishwasher/kitchen island etc) can just be added by us as time goes by, at our own pace.

Ec0

All depends on stage of the development and interest.
We've just reserved a newbuild with view to exchange in the coming week. We were going to leave it another year however the developer reduced the house price by 15k (not on our request) and are paying for stamp duty, upgrades to kitchen and bathroom, carpets and flooring throughout and also thrown a curtain and blind package.
All because the development opened in the summer and it's been slow start for them.
Other developers in the area are offering stamp duty paid and incentive packages too but this deal just came up at the right time for us.