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What to offer on a new built house
aj9648
Posts: 1,396 Forumite
Hi
After many mmmm and ammmmm I have taken the plunge a put a refundale deposit on a plot of new housing development.
The price is not realeased until May/June time but the person dealing with it told me the price would be in the range of £300-325K - its a 4 bed detached house.
Obviously this is a little/alot overpriced - so wondered what you guys thought I should offer?
After many mmmm and ammmmm I have taken the plunge a put a refundale deposit on a plot of new housing development.
The price is not realeased until May/June time but the person dealing with it told me the price would be in the range of £300-325K - its a 4 bed detached house.
Obviously this is a little/alot overpriced - so wondered what you guys thought I should offer?
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Comments
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My H got a house marketed at £300,000 down to £249,000.
Admittedly it was built already and they were having trouble shifting it, but it was never worth what they were asking.
There's your benchmark
Everything that is supposed to be in heaven is already here on earth.
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Hi
After many mmmm and ammmmm I have taken the plunge a put a refundale deposit on a plot of new housing development.
The price is not realeased until May/June time but the person dealing with it told me the price would be in the range of £300-325K - its a 4 bed detached house.
Obviously this is a little/alot overpriced - so wondered what you guys thought I should offer?
You put down a deposit on a house when you didn't actually know what the full purchase price of the house would be? I think they saw you coming......"You were only supposed to blow the bl**dy doors off!!"0 -
You've put a deposit down without even knowing the price?
It's true... there is one born every minute.Bankruptcy isn't the worst that can happen to you. The worst that can happen is your forced to live the rest of your life in abject poverty trying to repay the debts.0 -
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I would be dubious about buying on a large new development, especially if alot have sprung up in the area recently, and more are likely to be built.
1) Find out where all the social housing is going to be located (1/3 will be sold to Housing Associations for any developments over 16 I think), and make sure yours is as far away as possible!
2) Find out how much does an older 4 bed detached house cost, and offer something comparable.
3) Make sure they give you a decent kitchen/bathroom etc... on top of the low offer.Should've = Should HAVE (not 'of')
Would've = Would HAVE (not 'of')
No, I am not perfect, but yes I do judge people on their use of basic English language. If you didn't know the above, then learn it! (If English is your second language, then you are forgiven!)0 -
yes it is a refundale deposit of £750 - basically if I change my mind before signing on the dotted line I get my money back. The £750 is to reserve the plot and have first say whether I want to buy it or not.0
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Hi
After many mmmm and ammmmm I have taken the plunge a put a refundale deposit on a plot of new housing development.
The price is not realeased until May/June time but the person dealing with it told me the price would be in the range of £300-325K - its a 4 bed detached house.
Obviously this is a little/alot overpriced - so wondered what you guys thought I should offer?
Why do you think its overpriced? It could be in a very desirable location and much sought after. I dont think they are likely to be taking offers immediately on completion. Unless they evisage problems shifting them.0 -
All new builds are overpriced.
And I'de like to see him get his money back if he changes his mind.
Generally, "refundable deposit" means it's deducted off the cost of the time at the point of exchange, or it's given back to you when you return an expensive item undamaged.
A deposit on a new-build house is so they don't sell it to someone else... it's your promise to come back and buy it in exchange for them agreeing not to try to sell it to someone else. If you change you mind, you don't get you deposit back... that's the whole idea of a deposit.Bankruptcy isn't the worst that can happen to you. The worst that can happen is your forced to live the rest of your life in abject poverty trying to repay the debts.0 -
Which builder is it and what site/where?
If you tell us this, we might br able to advise/comment.British Ex-pat in British Columbia!0 -
All new builds are overpriced.
Sorry, disagree! I think mine was excellent value! My 2 bed flat (small development, no other flats nearby) was 85% of the price of a 2 bed terrace in the area, plus I get far more space inside (2nd bedroom is a big double rather than pokey single!), and a parking space, which I wouldn't have got with the terrace house! Mortgage interest is cheaper than renting the same property too...
SOME new builds are over price. I certainly wouldn't buy on a big development by a mass-production builder!Should've = Should HAVE (not 'of')
Would've = Would HAVE (not 'of')
No, I am not perfect, but yes I do judge people on their use of basic English language. If you didn't know the above, then learn it! (If English is your second language, then you are forgiven!)0
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