Want to make an offer on a new build - How low to go

obsessed_saver

Tell the sales lady you'll pay £249,999 and pay the stamp duty yourself.

Fuchsia_a

Their cash flow must be terrible. If they're bugging you constantly like that and keep reducing the price, they probably need *any* cash they can get, whether or not they're making a big (or any, if it's really bad!) profit on the house. If they have a lot of houses but no way of shifting them, that means they're going to be running into problems paying the bills to contractors, employees wages etc that they have to pay to keep in business.

If they're as desperate for a sale as they appear to be, they might take a much lower offer than you'd expect.

poppysarah

How many new build for sale within a mile of the one you like?

What price is a comparable not-new build?

Some not too far from me were £250k brand new 18 months ago. One sold recently for 81k. There are at least 8 for sale on that road - and another estate being built 1 mins walk away.

Oversupply is the key to getting a bargain.

Bonnie_P

Hi, thanks for all the help. We will probably rent but put in a very low offer (£250 they can take it or leave it)

Kez100

Not a bad tack at all. Make sure they realise you mean business when you offer the 249 and have sold where you are.

Bonnie_P

Hi, made offer today of £250,000 as we could complete within 4 weeks (sales lady wasn't impressed and said it wasn't worth putting through as they wouldn't accept it because the plot we are interested is is priced at £390,000). Told her to put in the offer and that we would like it in writing (she said they have had a lot of interest now and that another buyer is interested in the plot we like). We told her that only 4 out of 14 have sold since Aug 07 and that we are going to rent or a year so they can take it or leave it but we want to make the offer. She wasn't very happy when we left.

Treadmill

I bid £170,000 on a house that was priced at £189,999 just recently with no joy so good luck with that, To be honest you are wasting your time bidding 250K on a 390K house as theres no way its going to be accepted, maybe if the house is not sold in 18 months but not right now. I think people are getting carried away suggesting you may get a 35% reduction, but dont ask don't get I guess.

Bonnie_P

As they have been ringing us every week since March, we thought we would make a low offer as we are going to rent for a year. Hope this will stop them ringing us if they don't accept it. :j

puddy

i wouldnt be too sure, they;ve got 10 going spare, despite what sales lady says about a 'new' buyer suddenly cropping up. the points above about the company's case flow is right, they need to sell, end of story, they may make just a small profit on the sale, rather than a huge one like in the past, they wont be out of pocket

edited to say 'meant for treadmill'

Kez100

They will be aware of the land registry entry. If they have 9 left to sell at 390 they won't be wanting to see 250 on the record so early in the crash. IMO. Despite that, I would still try it though. If they said no I'd probably rent again and say 'OK, that's my maximum budget. I'll be back in six months.'