Buying from developers-any hints/tips on negotiating

[wolveschick]

In the early stages of seeing if developers will part ex our house. We cant afford their asking price at moment but in today's market suspect there may be deals to be done-we would be the first to buy in the development of 5 properties. Any hints/tips in negotiations. Is there anything illegal in offering to buy under the #250,000 stamp duty 3% threshold but reducing price of ours accordingly? Would appreciate and hints or tips-and if by chance Kirstie or Phil out there-would they like to negotiate on our behalf!!

Not really sure if I have anything especially useful - but it is a bad time to be selling a new development so I would be inclined to just be as bullish as possible. The worst they can do is say no ... and if they do, leave it a while before you increase the offer. They might try it on initially by refusing an offer because they think you will increase it..

Just impress upon them that you are ready to move quickly and have in principle mortgage offer in place and solicitors lined up etc.

Don't think there are any legal issues with adjusting the price of yours to make it under stamp duty threshhold

BTW - sounds like you might be quite near me (unless you just like wolves ?! )

Forgot to ask - are the other houses finished ? If not, they will probably be relying on the capital from the first ones to finance the remainder of the development so will therefore be keen to get rid a.s.a.p.

Am Wolves/south staffs

In south staffs too (Kinver)

Had better not say too much more here as that is where I am hoping to move to. As you know everyone knows everyone else there and you are prob related to the seller/agent etc! Do you like it there-my parents are there and love it?

TillyScout-any chance of you sending me a CAM message. It would be nice to pick the brain of someone there as I have DD2 who is 2 and a 5 year old DD and would be nice to know about nurseries/groups in the area. Bit of a coincidence!

Wow ! Small world...

I've only been here for just under 2 years so I'm not part of the local mafia yet . I am a surveyor though but work(ed) in Birmingham so don't know any around here. I think I might know the development you're talking about though.

I love it here - there's not much in the way of mother and baby/toddler type things which is a personal bugbear at the moment (being bored at home with a 10 month old). The village is lovely though - most things you need day to day and small enough to be friendly but big enough to retain some anonymity if you want. The library, docs, chippy and curry house are all the best though

Not sure if would be actually illegal unless you are actively evading the tax by manipulating the figures, a substantial drop on the figure might attract suspicion, especially if others on same development register for a lot more. The developer will want to achieve as high a price as possible though so that it can maintain price of the others. They may pay the Stamp Duty or give you cash back but part exchange can mean you forfeit those offers.

Relieved to see library and docs are good as they are best thing about where I am now (Perton) and the things I will miss most (how sad am I??) Also the open til 10 supermarket and petrol station may be missed! Hopefully will see you on the school run one day!

sorry x posts... I haven't subscribed to CAT..

email me - e434 at btinternet dot com

Not sure how much I can help cos dd is my first but can certainly tell you what I know

Cheers TSM, will do

I know someone who bought a new house and part exchanged recently - they payed the asking price for the new house (I assume the agent wanted to be able to show it was 'worth' that to other buyers), BUT the agent gave them £20k more than their part exchange was originally valued at, as they couldn't afford to buy otherwise.