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    • Claree__x
    • By Claree__x 13th Mar 17, 9:16 AM
    • 1,179Posts
    • 2,747Thanks
    Negotiating on a New Build
    • #1
    • 13th Mar 17, 9:16 AM
    Negotiating on a New Build 13th Mar 17 at 9:16 AM
    Apologies, there seems to be a load of new build threads on the front page but I have another one!

    We're looking at buying a new build from persimmon - they're in phase 1 of the build, to be completed "between June and December" and have around 10 or so left to sell in this phase. I've read online and heard about people negotiating either for a price deduction or for 'extras' thrown in but I'm not sure at what part of the process we'd do this?

    To reserve they're looking for a 500 deposit, then exchanging 2 weeks later with a further 2,000 - do I speak to them before or after we reserve? Presumably before exchange?

    Sorry if this is a silly question!
Page 1
    • AnotherJoe
    • By AnotherJoe 13th Mar 17, 9:24 AM
    • 9,403 Posts
    • 10,391 Thanks
    • #2
    • 13th Mar 17, 9:24 AM
    • #2
    • 13th Mar 17, 9:24 AM
    You have to negotiate and agree before you pay the deposit !!!!!!
    That deposit fixes the price, if it didn't it would be meaningless and they'd have you over a barrel, "the price is the price if you dont like it walk away and we'll keep your 500 thanks"..

    Have you checked this will be a freehold property? I think Persimmon are still selling some new builds as leasehold.
    Do you have a mortgage agreement in principle? Are you confident about getting another one in say July if the build doesn't complete until December or later? If you complete in April and you cant get another offer later, you are 2,500 down at least. What does the contract say if you cannot complete? What are the penalties? Can you walk away only losing the 2,500?
    • Claree__x
    • By Claree__x 13th Mar 17, 11:55 AM
    • 1,179 Posts
    • 2,747 Thanks
    • #3
    • 13th Mar 17, 11:55 AM
    • #3
    • 13th Mar 17, 11:55 AM
    That's what I thought but just wanted to double check.
    In answer to the rest;
    - Definitely a freehold
    - MIP, yes and confident of another later down the line
    - Exchange will be subject to mortgage approval, so we can back out and only lose half of the initial deposit (250), checked this with my solicitor this morning 'cause I thought the same as you!
    • alex_163163
    • By alex_163163 13th Mar 17, 12:12 PM
    • 231 Posts
    • 157 Thanks
    • #4
    • 13th Mar 17, 12:12 PM
    • #4
    • 13th Mar 17, 12:12 PM
    Negotiate before you reserve!! You will not get anything else added on after this. Any extras they are paying for must be written on the initial reservation form.

    We started the process to buy a new build with persimmon (but pulled out later due to the leasehold issue) and we got them to include stamp duty (2400 on that house), all flooring (amtico and carpets) and a kitchen upgrade from the basic choices. House asking price was 245,000.
    • kirtsypoos
    • By kirtsypoos 13th Mar 17, 2:21 PM
    • 3,423 Posts
    • 14,977 Thanks
    • #5
    • 13th Mar 17, 2:21 PM
    • #5
    • 13th Mar 17, 2:21 PM
    I agree with above - we have just bought a new build with Persimmon and we negotiated stamp duty, flooring throughout including ceramics, additional tiling in bathrooms, upgraded kitchen and a few other bits and pieces. Once the reservation form was completed there was no scope for further negotiation.

    It all depends on how confident they are of selling though - we came on the scene when the roof was already on and the previous buyer had pulled out because their sale fell through so we had a bit of bargaining power.
    PAID VERY, Barclaycard x3, Vanquis, Natwest, O/D, Tesco & MBNA x2 PAID LBM 24/07/15 - Original Debt: 0/31010.23 (100% paid)
    Mortgage - 158.500.00 (2017/2018 O/P 3491.79) PAYDBX 17 - 18,442.82
    PAYDBX 18 #006 3850.92/4000
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