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  • FIRST POST
    • biged670
    • By biged670 4th Jan 18, 12:12 PM
    • 387Posts
    • 36Thanks
    biged670
    Developer hesitant regarding new build reservation
    • #1
    • 4th Jan 18, 12:12 PM
    Developer hesitant regarding new build reservation 4th Jan 18 at 12:12 PM
    Hello,

    My partner and I are hoping to purchase a property on a new build development. We’ve expressed interest in reserving a plot but the developer is being very reluctant to allow us to do so, in fact the sale negotiator seems very reluctant to do anything.

    In summary, the site has about 6 plots left, most of which, if not all, have ‘names down’. These are not official reservations, just people who have expressed interest in the plots for when they are released. When they are released, the negotiator contacts the people with their 'names down' to inform them. I’ve asked the sales negotiator if, and when, we can reserve a plot and she has said that we are only able to do so when they are in fact released. Everybody I have spoken to, friends, family, colleagues, mortgage adviser, have all said this sounds strange and some developers allow you to reserve a property sometimes up to 1-2yrs in advance. Has anybody else had similar experiences with a developer?
Page 1
    • ReadingTim
    • By ReadingTim 4th Jan 18, 12:46 PM
    • 2,738 Posts
    • 3,916 Thanks
    ReadingTim
    • #2
    • 4th Jan 18, 12:46 PM
    • #2
    • 4th Jan 18, 12:46 PM
    Sorry mate, but you can't force them to take your money!

    Yes, I agree, it does sound strange, but if they feel they've got people lined up and don't want to do business with you, just move on and find someone else who does want your money...
    • biged670
    • By biged670 4th Jan 18, 12:56 PM
    • 387 Posts
    • 36 Thanks
    biged670
    • #3
    • 4th Jan 18, 12:56 PM
    • #3
    • 4th Jan 18, 12:56 PM
    Sorry mate, but you can't force them to take your money!
    Originally posted by ReadingTim
    I understand that, just really frustrating. Just looking to see if people have had similar experiences.
    • Silvertabby
    • By Silvertabby 4th Jan 18, 1:06 PM
    • 2,866 Posts
    • 4,091 Thanks
    Silvertabby
    • #4
    • 4th Jan 18, 1:06 PM
    • #4
    • 4th Jan 18, 1:06 PM
    Nothing odd at all - the builder has 'pencilled in' names against the properties and has promised to give them first refusal once they are released for sale.

    How would you feel if you were one of the 'pencilled in' but, when you went to officially reserve, were told 'sorry - someone else came along'.

    I would ask if you could be added to the property you are interested in as 'second refusal'.
    • ThePants999
    • By ThePants999 4th Jan 18, 1:19 PM
    • 1,166 Posts
    • 1,434 Thanks
    ThePants999
    • #5
    • 4th Jan 18, 1:19 PM
    • #5
    • 4th Jan 18, 1:19 PM
    Everybody I have spoken to, friends, family, colleagues, mortgage adviser, have all said this sounds strange and some developers allow you to reserve a property sometimes up to 1-2yrs in advance.
    Originally posted by biged670
    Yes - that's not contrary to what you're being told! They'll allow you to reserve a property from the point it's released, which is indeed sometimes up to 1-2yrs in advance of when they finish building it. The ones you're looking at haven't even got THAT far, they haven't been released for reservation yet.
    • davidmcn
    • By davidmcn 4th Jan 18, 1:32 PM
    • 7,843 Posts
    • 8,026 Thanks
    davidmcn
    • #6
    • 4th Jan 18, 1:32 PM
    • #6
    • 4th Jan 18, 1:32 PM
    They may still be pondering over layout, pricing, what order to develop different sites, etc.
    • ReadingTim
    • By ReadingTim 4th Jan 18, 1:49 PM
    • 2,738 Posts
    • 3,916 Thanks
    ReadingTim
    • #7
    • 4th Jan 18, 1:49 PM
    • #7
    • 4th Jan 18, 1:49 PM
    I understand that, just really frustrating. Just looking to see if people have had similar experiences.
    Originally posted by biged670
    I feel your pain - I found it equally as frustrating when not a single female millionairess member of the landowning aristocracy accepted my marriage proposals....
    • Firsttimebuyers
    • By Firsttimebuyers 4th Jan 18, 1:53 PM
    • 158 Posts
    • 160 Thanks
    Firsttimebuyers
    • #8
    • 4th Jan 18, 1:53 PM
    • #8
    • 4th Jan 18, 1:53 PM
    We had the same with Gleeson Homes - then when some were released and those on the list weren't interested, they called us - too late though as we'd already made an offer on another house
    • biged670
    • By biged670 4th Jan 18, 2:27 PM
    • 387 Posts
    • 36 Thanks
    biged670
    • #9
    • 4th Jan 18, 2:27 PM
    • #9
    • 4th Jan 18, 2:27 PM
    How would you feel if you were one of the 'pencilled in' but, when you went to officially reserve, were told 'sorry - someone else came along'.
    Originally posted by Silvertabby
    Me personally, If I had something for sale and one person approached me to say they might buy it, and one person approached me to say they will defo buy it, I'm going to go with the second option every time.
    • oz0707
    • By oz0707 4th Jan 18, 2:36 PM
    • 538 Posts
    • 147 Thanks
    oz0707
    Probably undecided on spec and final value. They don't want to decide their price now most likely. I wouldn't write it off completely just wait till they get a bit nearer to finishing
    • kingstreet
    • By kingstreet 4th Jan 18, 3:00 PM
    • 33,575 Posts
    • 18,211 Thanks
    kingstreet
    A builder may allow an "early bird" but this doesn't guarantee the price which is only set when the properties are released for reservation.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
    • Silvertabby
    • By Silvertabby 5th Jan 18, 11:54 AM
    • 2,866 Posts
    • 4,091 Thanks
    Silvertabby
    !!!8220; How would you feel if you were one of the 'pencilled in' but, when you went to officially reserve, were told 'sorry - someone else came along'.
    Originally posted by Silvertabby !!!8221;
    Me personally, If I had something for sale and one person approached me to say they might buy it, and one person approached me to say they will defo buy it, I'm going to go with the second option every time. Posted by Biged670
    Are you really saying that you would 100% commit to this purchase - even though you would have no idea of the final cost?
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