Snagging Inspections
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  1. #1
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    Default New Build Barter Strategy

     
    Hi,

    The Mrs and I have recently found a new TW house we like the look of. The sales agent informed us that she would have to get the house released if we were interested albeit the house is 80% complete. At the time she said the house would be released around the 320k mark. She has since called to say that the plot next door (currently a hole in the ground) has been released by mistake and is a slightly lower spec but released at 330k nonetheless. She estimates that the plot we actually wanted would be 'released' in the next couple of days and be in the region of 335 since this one was of a low spec *surprise* *surprise*.

    My initial thoughts are that this is nothing more than a strategy on her part to attempt to drive prices up on the house we are interested in and 330k is a completely arbitrary figure which they control!

    What are everyone else's thoughts on the situation and what would be your starting point and strategy for bartering?

    Rikk

  2. #2
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    Default no real advice but

    similar thing happening over here - developer has said the first few plots were underpriced and will be putting the price up by 10k for the rest. Seems like it might be a common strategy.

    As far as negotiation I would say (with no experience) it's the same as any other negotiation so general negotiating techniques apply.

  3. #3
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    Default

    Has either of you put a deposit down
    If you have then consult consumer code of conduct for builders on internet which will explain your rights

    Id no deposit placed then its just tuff luck im afraid
    Many Thanks
    Steve

  4. #4
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    Default

    Seems a common strategy. We reserved very early. Folk who bought a few weeks later all paid 5-10k + for a poorer spec/location.

    I suspect they test the water with a price and depending on demand push the prices up. You could wait to see what happens. If demand is low, then you have a better chance of bartering. Usually there is a very long line of folk desperate to buy and before you know everything is reserved/gone.

    The 2 occasions I have seen prices come down were David Wilson developments, which were overpriced by 20-25%. Even at those sort of prices there were idiots buying, but I understand that a few buyers had to drop out as the survey values were no where near the asking price.

  5. #5
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    Snagging Inspections
    This is the exact same post as you made on my forum 15mins after posting here!
    You didn't even return to see my reply, or thank anyone here - apparently!
    For more information visit the Brand New Homes website: Information advice and tips for the UK new home buyer
    Claiming compensation from a house builder: The Consumer Code for Home Builders
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