Persimmon Advertising price change after reservation

newbuildbuyer499

Hello…

Im new here. I reserved a new build with persimmon under section 106 (DOMV) about 4 months ago. I have not exchanged contracts yet. Today they released more houses on their website for a reduced price from what i have reserved at. They 40K cheaper than my reserved house, the exact same house style just one street over on the development! Do I have a right to request this to be reassessed? This is a lot of money.

Thanks

user1977

You don't have a "right" to request, but you could try requesting. You don't have a right to buy at the lower price. But if you haven't exchanged, they can't make you buy at the higher price either.

TroubledTarts

Sounds like you need a calm and sensible discussion with persimmon.

flaneurs_lobster

Does your reservation involve a non-refundable deposit?

Is it less than £40k?

newbuildbuyer499

I have paid £500 non refundable deposit. thanks

Caz3121

Is there anything that would stop you reserving one of the new released properties instead?

Might be part of the discussion…."well if you won't reduce I will buy the other one and save £39,500".

SarahB16

I know OP you are looking for a c.£40k reduction yourself however if you are willing to accept the £40k deduction as say £20k from the sales prices and £20k upgrades in your house you will have a far greater chance of having that accepted.

Housing developers always try to keep the headline sales price as high as possible so perhaps have a think about anything you think the developer may be able to throw in for free for you.

LightFlare

there are all kinds of reasons they might be 40k less.

Check what you have signed and agreed to and as suggested - asking can’t hurt

RelievedSheff

As has been mentioned above there can be any number of reasons these houses are cheaper. Are they built to the same specification, does the house you have reserved have any upgrades, plot location, plot size, plot orientation, less parking?

You say the one you have reserved is a S106 property. Are the others shared ownership so you pay £40k less but don't own the whole property?

silvercar

I would guess that these new plots aren’t the shared ownership ones. These deals come at a price, as you have found out.