Page 4 | Need to make an offer on a house asap!!

Changeitplease · 2023-03-21T14:57:07+00:00

Bottom line is we like the house!! It is a new build and the developer has just lost out on the buyer today. It is the last property to sell and we have already shown our interest. They have asked that if we are interested we can make an offer now. We have the agreement in principle. Now question is what the offer should be? It is on market for £1.1 and apparently their last offer was full asking. Wise Mumsnet people - pls advise what should our offer be? We don't have anything to sell. In today's market what should be the offer? Any advice!!

bellsbuss · 21/03/2023 16:12

They will want rid of it before year end so offer low

Panicmode1 · 21/03/2023 16:14

The market is softening, banking confidence is weakening and it's the end of the tax year imminently. I agree with everyone saying start your offer with a 9....sounds as though they need you more than the other way round. They can only say no, but they may say yes given the strength of your position..

Nottogetapenny · 21/03/2023 16:15

I would start at 9 1/2 saying you would sign immediately! You can always go up if need be.

WomanStanleyWoman2 · 21/03/2023 16:15

FilthyforFirth · 21/03/2023 16:05

A basic statement? Jesus, glad I don't know you in real life! How strange to be so rude over a completely innocent comment.

Sorry to to derail OP. I shall leave this thread to the professionals!

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Well it IS basic. Loads of people aren’t bothered about having a huge garden, but you’ve written off the property for everyone on that basis. Ridiculous.

DizzyLizzyKizzy · 21/03/2023 16:15

You offering on a house close to TYE, is not a benefit to them, they need cash in there account to benefit.

But nevertheless, start low and work upwards.

begoneday · 21/03/2023 16:15

DinnerThyme · 21/03/2023 15:01

If they’ve already had an offer for £1.1 million then why would they accept OP’s lower offer?

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Because the chances are they’re lying….

LookingOldTheseDays · 21/03/2023 16:17

Whether it's the end of the tax year depends on the company. Not all companies have their year end on 31st March.

Agree with pp that you'd be crazy to offer more than £1m as your starting offer though.

Or if you do offer asking, you want cashback/upgrades included for the price.

Chickenly · 21/03/2023 16:19

WomanStanleyWoman2 · 21/03/2023 16:15

Well it IS basic. Loads of people aren’t bothered about having a huge garden, but you’ve written off the property for everyone on that basis. Ridiculous.

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That’s actually not what she said. She didn’t write it off for everyone. She made an off the cuff comment and you went in on her and have now come back for another bite. And she’s not the only one you’ve gone in at on this thread. It was a simplification but not an invalid point that many (most?) people choose a house with more land in that tax bracket.

Grimbleton · 21/03/2023 16:21

Is it a big builder or a smaller firm? My family bought the last house on a fancy/expensive development from a smaller builder, similar price range and I know they got a decent discount (at least 10%) and that was well before the market softened.

I’d be offering at least 15% under if I was negotiating with a small firm as you are more likely to be negotiating with the person who actually keeps the profit rather than someone who is working to a sales target.

begoneday · 21/03/2023 16:22

wheresmyomega3 · 21/03/2023 15:13

Dying to see a new build worth a million!

Commuter town new builds commonly sell for this price. The most recent development in our town had garden flats on at 1.3 😳 They all sold too

Fluffodils · 21/03/2023 16:22

Same as previous buyer

OldLadyChinaCup · 21/03/2023 16:27

Surprised at all the surprise at £1m new builds.
Directly behind my house they’ve built a bunch of new builds on an old school site. They were selling 5bed, 3 storey semis for 859k-900k depending on whether it was a tiny plot or an even tinier one! 🤣 I’m in Stockport in Greater Manchester so not the SE of anything like that. They mainly sold off plan super quickly last year.

It’s not an ideal site either as our houses are higher up although back onto them and in heavy rain the water ran down from our gardens into the school grounds making them unusable. I wonder how much drainage the company put it. I’m waiting to see what happens with the next torrential downpour as it’s been mainly dry this winter.

I suggest 975k unless you really want it in which case I’d offer £1m. You’re in a strong position and they’ll be wanting to wrap up the site.

Greentree1 · 21/03/2023 16:28

Also depends if it's meant to be your 'forever' home or you hope to make a profit in a few years time. If it's a keeper and you love it offer full price (assuming you can afford it). If not it's more of a financial decision then offer less, if you lose it you wouldn't be that bothered if it didn't meet your financial requirements.

We bought our house full ask 30 years ago, a few people thought we were nuts, but 30 years on we still love it, and have turned it into the house we envisaged at the time. If we had offered less and lost it I would have kicked myself.

Peppadog · 21/03/2023 16:31

@Chickenly spot on. Hate seeing the nastiness that comes into these threads sometimes.

WomanStanleyWoman2 · 21/03/2023 16:59

Chickenly · 21/03/2023 16:19

That’s actually not what she said. She didn’t write it off for everyone. She made an off the cuff comment and you went in on her and have now come back for another bite. And she’s not the only one you’ve gone in at on this thread. It was a simplification but not an invalid point that many (most?) people choose a house with more land in that tax bracket.

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I see… I make a comment on a public forum, she tells me how terribly, terribly
rude I’ve been - but I don’t get the same right of reply? Why is it fine for her to fight back, but “coming back for another bite” when I do it?

Chickenly · 21/03/2023 17:06

WomanStanleyWoman2 · 21/03/2023 16:59

I see… I make a comment on a public forum, she tells me how terribly, terribly
rude I’ve been - but I don’t get the same right of reply? Why is it fine for her to fight back, but “coming back for another bite” when I do it?

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Because you’re the one being a bully. Obviously. You started it and she didn’t nothing except call you out for it.

Pipsquiggle · 21/03/2023 17:11

So we were in this exact same position. We put an offer in at £1.020.

We really wanted the house and didn't want to lose it. We got it!

Newhousewhodis · 21/03/2023 17:17

Laiste · 21/03/2023 15:20

I'm googling 1 mil new builds and i can't find any.

Go on Rightmove and look in London. The nice bits.

WomanStanleyWoman2 · 21/03/2023 17:23

Chickenly · 21/03/2023 17:06

Because you’re the one being a bully. Obviously. You started it and she didn’t nothing except call you out for it.

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If your idea of “bullying” is disagreeing with someone on a public forum - a space specifically designed to share opinions - you need to develop a thicker skin.

Nevermind31 · 21/03/2023 17:24

Ours was £1.1, last one. We offered £950k and agreed on £980k. The estate agent said that the developer would not go below a million 🤥

it is a massive new built - over 2000 square foot, high ceilings, really spacious rooms , great soundproofing , with great amenities. So new built doesn’t just equal new built.

billyt · 21/03/2023 17:29

Octagon new build houses were over £1m 20 years ago!!

Original poster

Changeitplease · 21/03/2023 19:19

So the general consensus is to ask for a discount of course - builder has agreed to pay for complete stamp duty. In addition to this should I go for 5-10% under offer? This house will definitely works for us, is quite spacious over 2300 sq ft, private beautiful estate, lots of Greenland, etc and close to school

OP posts:

GoodChat · 21/03/2023 19:24

Changeitplease · 21/03/2023 19:19

So the general consensus is to ask for a discount of course - builder has agreed to pay for complete stamp duty. In addition to this should I go for 5-10% under offer? This house will definitely works for us, is quite spacious over 2300 sq ft, private beautiful estate, lots of Greenland, etc and close to school

If they're paying stamp go in at a million. It sounds lovely.

Tootlingalong · 21/03/2023 20:00

Always worth asking for a discount, they will want to make a deal and won't be offended like a personal sale.

And with regards to £million+ new builds, they are building some for over £2million near me and I'm in the North East! They do come with an indoor pool though.

toodlesofoodles · 21/03/2023 20:07

Offer 1 but be prepared to go to 1.1

We were in a similar situation last year, ended up paying asking but to me the house is worth it so I have no regrets. The market has changed since then though, so think about what you think it's worth and are prepared to pay and then offer that. Good luck!