Negotiating with Builders what should I do now !!!

joepubli

I m fascinated by the story. So tell us where you got to.

Treadmill

I bid stamford homes 170K on a 190K 4 Bed house on thursday, they have not even got back to me, maybe builders are not as desperate for buyers as we thought.

Jorgan_2

Treadmill wrote: »

I bid stamford homes 170K on a 190K 4 Bed house on thursday, they have not even got back to me, maybe builders are not as desperate for buyers as we thought.

It all depends on how far down the chain the decision maker is as to how quick the response is. Its not uncommon for it to take 5-6 days to get a reply.

WTF?_2

looby-loo wrote: »

How would you feel if you lost your dream house?

Since when does a bog standard newbuild semi constitute a 'dream house'?

I'm sure there will be plenty of other similar houses available out there in the foreseeable future, for less money.

Treadmill

I think the term dream house is overused, right now for me a dream house is any house away from my drug dealing chav neighbours.

Treadmill

Jorgan wrote: »

It all depends on how far down the chain the decision maker is as to how quick the response is. Its not uncommon for it to take 5-6 days to get a reply.

Cheers for that, I'm not intending on chasing them so if they don't get back to me its no deal, I live in Peterborough and there is a new build estate near here parts of which are like a ghost town with new builds stood empty with at leat a dozen builders looking for business so I'll just go elsewhere.

adr0ck

poppysarah wrote: »

This house cost them 60k to build.

Don't use their solicitors. (I'm nagging tonight!)
Refuse. Walk away.

i would love to see a breakdown of your costs for this

SquatNow

adr0ck wrote: »

i would love to see a breakdown of your costs for this

Actually £60k isn't realistic. £60k is a fair cost if they use high quality parts, power showers in both bathrooms, fitted appliances in the kitchen etc etc.

Most average new bilds probably cost closer to £40k to BUILD.

The kicker is always the land price. A house that costs a total of £120k to build will consist of roughly £40k to actually build it and £80k for the land it stands on.

What it cost to build (including land) is irrelevant in a buyer negotiaitions.

If the building firm needs to sell houses to stay afloat, it will sell at a loss to keep the cashflow going. Remember they aren't buying the land "to-order", they bought all the land up front. While they may loose money selling at a loss THEY HAVE TO SELL. The completed properties have no value to the builder themselves.

On that basis the buyer should walk away for a fortnight then go back and offer £170k... or less if no other properties have sold.

"Here's a cheque for £150,000 for that house over there... take it or leave it, I'm happy to move onto the development down the road, I'm sure they'll take my money"

adr0ck

SquatNow wrote: »

Actually £60k isn't realistic. £60k is a fair cost if they use high quality parts, power showers in both bathrooms, fitted appliances in the kitchen etc etc.

Most average new bilds probably cost closer to £40k to BUILD.

The kicker is always the land price. A house that costs a total of £120k to build will consist of roughly £40k to actually build it and £80k for the land it stands on.

:rotfl:

to put it politely squatnow you are talking out of your backside

adr0ck

if your not (talking out of your backside that is)

please provide a breakdown of your costs

i would love to see it