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  • FIRST POST
    • Dnklar
    • By Dnklar 12th Feb 18, 6:31 PM
    • 6Posts
    • 0Thanks
    Dnklar
    Getting some incentives
    • #1
    • 12th Feb 18, 6:31 PM
    Getting some incentives 12th Feb 18 at 6:31 PM
    Hi,
    Long time lurker and I've often found this website very useful.
    I am sale agreed on a house which is valued at around 200,000. I have only paid a holding deposit and it is an amount I can afford to lose. Our current house sale is going well and we're mortgage agreed for the new one. Such is out position, we could sell and not buy immediately.
    I was originally agreed on house 'X' but then changed to 'Y' as it was a house we also liked and the original buyer there had changed their mind.
    House 'X' is now sale agreed but this happened after a list of incentives were added to it. I realise this is common practice.
    I don't want to walk away from the house but I feel a bit dismayed as we weren't offered the incentives with house 'X' or 'Y'. Knowing that I've no strong claim to make here, I'd appreciate advice on how to approach the agent. I'd planned on a short email detailing my problem and see what they offer but I am expecting a "tough luck" reply.
    The houses are selling reasonably, it's a new build development.
    Thanks.
Page 1
    • kingstreet
    • By kingstreet 12th Feb 18, 6:35 PM
    • 33,399 Posts
    • 18,088 Thanks
    kingstreet
    • #2
    • 12th Feb 18, 6:35 PM
    • #2
    • 12th Feb 18, 6:35 PM
    Holding deposit? Presumably you mean you've made a reservation and paid a reservation fee?

    If that's correct, the time to negotiate has passed. Incentives etc are negotiated BEFORE you reserve.

    If you pull out and forfeit some/all of the reservation fee then re-negotiate you might get an improved outcome.
    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.
    • Dnklar
    • By Dnklar 12th Feb 18, 6:38 PM
    • 6 Posts
    • 0 Thanks
    Dnklar
    • #3
    • 12th Feb 18, 6:38 PM
    • #3
    • 12th Feb 18, 6:38 PM
    Reservation fee, yes.

    You are right but the haggling wasn't worth the risk to me at the time as I didn't want to lose a house that I really liked. Plus there was no example of incentives being given. I have to work from here.
    • kingstreet
    • By kingstreet 12th Feb 18, 6:47 PM
    • 33,399 Posts
    • 18,088 Thanks
    kingstreet
    • #4
    • 12th Feb 18, 6:47 PM
    • #4
    • 12th Feb 18, 6:47 PM
    If you were happy to reserve with nothing, there's a good chance that's what you're going to end up with!
    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.
    • Dnklar
    • By Dnklar 13th Feb 18, 11:42 PM
    • 6 Posts
    • 0 Thanks
    Dnklar
    • #5
    • 13th Feb 18, 11:42 PM
    • #5
    • 13th Feb 18, 11:42 PM
    I have to accept that. Thanks for commenting.
    • Annie35
    • By Annie35 14th Feb 18, 9:52 AM
    • 216 Posts
    • 184 Thanks
    Annie35
    • #6
    • 14th Feb 18, 9:52 AM
    • #6
    • 14th Feb 18, 9:52 AM
    But if you don't ask you don't get! , maybe you'll get nothing but ive read a few times developers do turf or fencing easily enough to placate a complain
    • Supersy
    • By Supersy 14th Feb 18, 1:59 PM
    • 60 Posts
    • 16 Thanks
    Supersy
    • #7
    • 14th Feb 18, 1:59 PM
    • #7
    • 14th Feb 18, 1:59 PM
    We recently reserved a house off plan with Story homes, I asked and was told nothing will be offered as they are selling to well.
    • Newbuild7
    • By Newbuild7 15th Feb 18, 6:41 PM
    • 5 Posts
    • 9 Thanks
    Newbuild7
    • #8
    • 15th Feb 18, 6:41 PM
    • #8
    • 15th Feb 18, 6:41 PM
    Sometimes they will offer incentives to encourage you to stick with them but always depends on how much other interest they have in a house. We managed to get free carpets, estate agent fees and 500 towards Stamp Duty to settle for the same house but a different plot that was struggling to sell (nothing wrong with the plot, it was just a bad time of year). If you don!!!8217;t ask, you don!!!8217;t get! Good luck.
    • Nicola83
    • By Nicola83 15th Feb 18, 6:53 PM
    • 47 Posts
    • 32 Thanks
    Nicola83
    • #9
    • 15th Feb 18, 6:53 PM
    • #9
    • 15th Feb 18, 6:53 PM
    I think the time of year and how well the houses sell plays a part in it too.
    We went to reserve our house in January, ready for a June completion as we wanted a bit more time to save but when we went we got offered one if we could be in it by the end of February. We ummed and ahhed as we just had enough deposit but would have no money for equipment etc so they threw in a washer/dryer and floored and carpeted it all the way through for nothing and are giving us 1300 towards legal fees. The reason being February is their mid way financial year and they wanted to sell it before then. If we'd waited till June we wouldn't have got any of that.
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