Offer on a house

Gidged500

I’ve read the guide on this forum for buying a house but I have a question as the house I’m considering buying isn’t exactly classed as normal circumstances. I shall explain. 

I viewed a new build house tonight for sale at £254,950. It’s a year old and has never been lived in. The estate agent told me that the houses on the estate all new builds were built by a company which during building went into administration and another company took over and finished them. 
There are 3 identical houses for sale ranging from £259-£240k but me and my partner like the middle price house. 

My question is open to debate , do I offer around £240k or less than that due to the house being for sale for a year. It has been reduced once by £9k in feb of this year. 

Darkslider

Offer what you think it's worth to you, whether that's the same or less than the asking. Simplest, clearest and fairest way of proceeding. 


As an aside, on a new build on an estate unsold for a year regardless of the building changeover I'd be checking whether it's a freehold or leasehold and what ground rents are payable. There might be another reason it's been unsold for so long.

Gidged500

Darkslider said:

Offer what you think it's worth to you, whether that's the same or less than the asking. Simplest, clearest and fairest way of proceeding. 


As an aside, on a new build on an estate unsold for a year regardless of the building changeover I'd be checking whether it's a freehold or leasehold and what ground rents are payable. There might be another reason it's been unsold for so long.

It’s a shared freehold , not 100% sure on if it’s a bad or good thing 

eddddy

Gidged500 said:

The estate agent told me that the houses on the estate all new builds were built by a company which during building went into administration and another company took over and finished them. 

So check what type of 10 year warranty it has - that can be a bit of a problem when a new builder takes over a half built house. 

I guess you also need to bear in mind that a builder that was going bust might have been tempted to cut some corners, because they were short of money.

Gidged500

eddddy said:

Gidged500 said:

The estate agent told me that the houses on the estate all new builds were built by a company which during building went into administration and another company took over and finished them. 

So check what type of 10 year warranty it has - that can be a bit of a problem when a new builder takes over a half built house. 

I guess you also need to bear in mind that a builder that was going bust might have been tempted to cut some corners, because they were short of money.

The warranty is a LABC one