Miller homes!

mr.broderick

Zammo wrote: »

Extrapolate further big boy.

:money:

Doesn't take long for word to get round

Zammo

mr.broderick wrote: »

Doesn't take long for word to get round

Word travels fast on the bath house circuit.

:beer:

ramellous1

Bulldog, they do not want to reduce the price cos it will show up on the house price stats. However we have had our deposit (5%) paid so it looks like we are paying 9k more than we are at the land registry. Will they not pay your deposit as part of your deal?

bulldog14

Hello, Thanks for your replys much appreciated. We can't exchange until July as our buyers are re-mortgaging and will get stung with fees if they re-mortgage before July, therfore we will not have access to their deposit. I will make some enquiries with Miller homes regarding a deposit on the new house.

Doozergirl

I would wait until you are in a position to exchange within timescales if you want a decent price. They won't play ball with you if you are not proceedable in their required timescales.

Or just play them off. Tell them that you are able to exchange within 28 days but offer really low and hold out and hold out until you are ready and see what sort of price that gets you to. They need buyers. If the rest of the market place is slow in your area, they will not be bucking that trend.

bulldog14

I'm still waiting for a phone call today from the 'more experienced negotiator' to see if there is anything they can do.
Would it be worth considering an exchange on the new build before we exchange contracts with our buyer?? (thats if we could raise a deposit!)
I'm new to this and do not really understand all the ins and outs, and what implications this could have.

Doozergirl

If you exchange on the new build before you exchange on your sale, you run the risk of having to either own two properties (if you can raise a second mortgage if you need one) or simply failing to complete on the new build and losing your deposit.

If your purchase relies on your sale you must exchange contracts on your sale first.

If your buyers have a deposit of some sort then you can still exchange contracts with the view to them remortgaging in July in order to complete.

Your attitude to this is a bit wrong. You want the developer to jump through your hoops, not the other way round. If they think you can exchange in 28 days, then so what as long as you don't sign that reservation form before the time you think you can exchange within 28 days.

Personally, I would talk to your solicitor about bringing exchange forward on your sale.

Jonbvn

bulldog14 wrote: »

Would it be worth considering an exchange on the new build before we exchange contracts with our buyer?? (thats if we could raise a deposit!)

I would suggest that you do not exchange before your own house sale has exchanged. What would happen if your buyer pulled at the last moment e.g. say they can't remortgage? You could end up losing 10% deposit.

bulldog14

I thought that would be the response!!! I know realistically we cannot do anything now until 28 days before the date i July when our buyers exchange. I'm just concerned that by then the plot that we have our hearts set on will be gone!!