Ask developer to reduce price? New build

oz0707

I can't see them swallowing this. Different story if your sale was down valued 10k and you need 10k off to complete the purchase. As it is you're in a worse position now you've lost your buyer why would they reduce 10k

RM_2013

I noticed over the weekend that a new development locally reduced the price of one property by £20k and they are still offering a £15k deposit boost and upgraded kitchen and integrated appliances so they are clearly struggling to sell the plot.  This is a new development and no houses built yet but selling off plans - houses have been advertised for months now (Barrett’s) 

RelievedSheff

RM_2013 said:

I noticed over the weekend that a new development locally reduced the price of one property by £20k and they are still offering a £15k deposit boost and upgraded kitchen and integrated appliances so they are clearly struggling to sell the plot.  This is a new development and no houses built yet but selling off plans - houses have been advertised for months now (Barrett’s) 

Barratts and David Wilson (both the same parent company) have been reducing asking prices on the estate we are on this last couple of weeks. We had already noticed that sales were slowing down considerably.

Although the price reductions still only put them at what they were selling for a couple of months ago.

No harm in the OP asking for a reduction but I wouldn't hold out much hope of getting it. They are now in a worse position as they have lost their buyer. 

Sarah1Mitty2

dimbo61 said:

the developer may well say sorry but NO
If they have lots of houses on the estate they have already sold for £XXX,XXX then dropping the price for you could put all the other houses in Negative equity 

Developer doesn`t care if people who have already bought a house end up in negative equity, that is up to the buyer if they want to take that chance, the developer just needs to keep trading through a downturn and will reduce prices to do that.

Doorlock21

We got the £10k just to let everyone know, plus they are paying for extras

GixerKate

thats great news!  and thanks for coming back and doing the update.

Sarah1Mitty2

Doorlock21 said:

We got the £10k just to let everyone know, plus they are paying for extras

With help to buy now finished that is a GREAT deal for them.

badger09

Doorlock21 said:

We got the £10k just to let everyone know, plus they are paying for extras

That’s good news. Now all you have to do is sell your house😉

Titus_Wadd

OP best stick with one thread, it helps having all the aspects together so folk can tailor their answers.  It looks as though you have multiple threads about buying a new build.

Sarah1Mitty2

Doorlock21 said:

Currently trying to sell our house after our buyer pulled out and our new build we reserved is 6 weeks away from completion.

we are struggling to find a buyer in this market. 

We are going to ask our developer tomorrow if they will knock £10k off the price and we will do the same for ours to secure a buyer. 

Has anyone done something similar before and asked? 

Not this lot is it?

https://www.theguardian.com/business/2022/nov/08/persimmon-sales-price-fall-property-market-cancellation-rate