Offer for a new build

JoJoArmani

glen8 wrote: »

Finally, we have started negotiations

I hope I can keep my cool

Spill the beans.... who said what and when? ? ?

Gos, gos, gos...

glen8

ok here goes....I was always being a little optimistic but the situation was this:-

We live in a 7 year old 2 bed semi built by bellway homes. It's in immaculate condition, upvc windows, modern decor, BIG bedrooms etc etc The only things we have done to it were a power shower and really nice patio.
Noticed two the same in the area on rightmove. The first was £129,950 :eek: dropped to £124,950 http://www.rightmove.co.uk/viewdetails-18063407.rsp?pa_n=1&tr_t=buy and the second was on for £114,950 and has just sold (no idea for how much tho) http://www.rightmove.co.uk/viewdetails-10009122.rsp?pa_n=11&tr_t=buy

The new build we were looking at with persimmon homes was on the market for £229,999 http://www.rightmove.co.uk/viewdetails-20003288.rsp?pa_n=1&tr_t=buy . None in the area had sold and looked like the development had stopped.

I had worked out what we could afford...being realistic as we didnt want to over spend and struggle.

I wanted £120,000 for ours and for them to knock their price down to £200,000. Told you I was being optimistic but thought what the hell. Looking on rightmove we have seen bigger 5 bed which are only 2 years old on the market for £189,950 (down in six months from 233,000) http://www.rightmove.co.uk/viewdetails-7713282.rsp?pa_n=2&tr_t=buy so didn't want to waste money just buy having a new build. That's why we set our limit. We knew what was on the market!!

anyway, we got the phone call. They have offered us £100,000 for ours and were willing to knock £25,000 off their house with carpets and fitted wardrobes. I said that was far too low for us and he asked where we were with regards to securing a deal. He said they could either give us more for ours or knock their asking price down. Not that it really mattered to us which end it came from.
I explained that we had an outstanding mortgage of 57,500 and was not prepared to go over £135,000 on a new mortgage (even tho we had confirmed using their broker we could get £191,000).

That means we are some £25,000 out of what we are willing to spend.

They had their mortgage team ring up to tell us we could afford it, but I said I wasn't prepared to go that high.

Now, they can keep an empty house sat on the desserted development and wait for house prices to drop even further or sell to us.

We are not sad about it at all. We know we can sell next week for £105,000 EASY and buy that 5 bed for £189,950. We will still be quids in, it was just the thought of saving time and effort with the part-ex and buy a new home that we both really liked.

We spent yesterday afternoon back on rightmove and seen some very nice houses between 189-169 so we shall probably start thinking with our heads rather than hearts, stick ours on the market under cutting all the competition by 10k and then buy something for around 179.

That's unless persimmons call back :rotfl:

I think I'll call some estate agents on Monday (probably the same one who has just sold one like ours)

glen8

well I am glad this morning we didn't go silly and take their offer

We've been keeping our eye on a number of properties and seen one this morning drop 10k
from Nov 07 £199,950 to this morning £169,950 :eek:

Xeno

David Wilson called me back today, just to see if I was still interested and if I wanted to make another offer. She kept asking if I was serious about purchasing, but I was in work so didn't really listen properly and didn't seem too enthused. We left it with me having a think and getting back to her if still interested... have I blown it? I am, but only at the discount mentioned above.

glen8

mmmm, we got a phone call this afternoon from the developer next door. It just so happens they have a new 5 bed detached with all the extras we want going cheap

Yeah....it will have to be DIRT cheap for us to say Yes