Reserved New Build - Identical House Much Cheaper

LittleMrsThrifty

RelievedSheff wrote: »

I can tell you what the developers response will be!!

Unless you are the developer, then you can't. Their response will depend on how much they believe they can get for the property if it was marketed again now and how quickly it would sell.

It could be that they feel now the new year has rolled and there are more buyers around that they will get what the original poster originally agreed - or more! In which case the developer will probably remarket. Or they may think they pushed their luck originally, Brexit is around the corner and that they are better off selling it quickly for a cheaper price.

We won't know unless the OP asks and lets us know the outcome.

theartfullodger

If you thought it worth offering that price then that must be the price you thought it was worth.

No two houses are identical:. Apart from other matters they are not in exactly the same location.

If you think it worth it (to you) to pull out then do so, obviously.

Grenage

To be blunt, I think you'd have to be mental to effectively throw away 15 grand.


We're not talking about a unique property that ticks the right boxes and might be worth over-paying, we're talking about a cookie-cutter new build on the same estate.

AdrianC

theartfullodger wrote: »

No two houses are identical:. Apart from other matters they are not in exactly the same location.

This is true. Why did you go for your plot, and why did this other plot hang around until last?

RelievedSheff

AdrianC wrote: »

This is true. Why did you go for your plot, and why did this other plot hang around until last?

The other plot didn't hang around. The buyer had to pull out last minute. It has only just been remarketed. The reduced price is to get it shifted off the books now the sale has fallen through.

Nothing unusual.

RelievedSheff

LittleMrsThrifty wrote: »

Unless you are the developer, then you can't. Their response will depend on how much they believe they can get for the property if it was marketed again now and how quickly it would sell.

It could be that they feel now the new year has rolled and there are more buyers around that they will get what the original poster originally agreed - or more! In which case the developer will probably remarket. Or they may think they pushed their luck originally, Brexit is around the corner and that they are better off selling it quickly for a cheaper price.

We won't know unless the OP asks and lets us know the outcome.

They can ask of course but they are IMO extremely unlikely to get the answer they are looking for.

They may get some incentives if they are lucky but I wouldn't bank on that either.

MrsKH92

If it makes a difference, we didnt choose any of our interiors either since the roof was on when we reserved. I know the kitchens are the exact same as both plot numbers are listed on our kitchen spec plan.

The original sales woman said that when this happens, all houses are decorated with either their "cream", "beige" or "grey" colour schemes devised by the interior designers so it does appear that the houses are identical in every way except being 4 houses apart since I know the kitchens are the same.

On the map it does look as if the garden on the cheaper Plot is a little bigger but to be honest that doesn't really bother me.

They have emailed and offered some vouchers but they havent called and I haven't replied yet as i havent quite come to a conclusion yet.

We really do want to buy a house but our current home is adequate (and cheap) so I am tempted to just stay here until we find a close to perfect deal. Just wasnt sure if this happens all the time and it was just bad luck that we didnt secure the cheaper home.

foxy-stoat

Assuming your not going to sell anytime soon then just proceed as originally planned, as long as you mortgage valuation has been done so this house won't effect the LTV at all.

It will won't affect the sale price in 5 or 10 years time, it's just the risk with lots of similar new builds coming on the market at different times.

GDB2222

MrsKH92 wrote: »

Thanks, I hadn't thought about the resale value at all! We are completely new to house buying and most of our friends/family are in either Army Housing, didn't buy a new build or bought ages ago.

My gut feeling is that I should be willing to let the house go unless they agree to £299,950. They did say Armed Forces Discount would not have been available if we had reserved that house in time (I dont know why because they are always advertising it) so I will see if they will go for £299,950 rather than £295,950 which would be the discounted price.

Bit disappointed as I dont think they will agree to it, but seems wrong to pay £15k more for a house which is identical. I guess I should just feel slightly luck that we found out now rather than after completion.

Why are you only asking for £4K military discount?

MrsKH92

Sorry should have been £5k and not £4k less than the £299,950.

Honestly, I wouldn't mind if they didnt add the Military Discount as I know that price was already reduced so it may genuinely not be applicable.

I really do like the house (we both do) but we do feel it would be foolish to go ahead at the current price. I am just glad that my husband kept on checking RightMove as I had completely stopped doing that!