New builds. Are they usually open to offers?

[pernickety]

My husband and I looked at a small development of new builds about a month ago. They are not the sort of house we thought we would like but they are well built and the area is highly desirable. All of the houses that were available when we looked a month ago, are still available. They have also been on the market for months. The development (landscaping etc...) is almost complete. Would we look foolish if we put in an offer below the marketed price? Do people do that with new builds?

We have sold our property and are in a rented houses, so ready to go anytime.

Ask - you have nothing to lose!!

If they haven't sold any then I imagine the developer will consider negotiating.

They are always open to offers - especially if you are a)in a good position, b)are prepared to commit to move by a certain date (normally a tight timescale), c)commit to completion by a quarter/year-end timescale.

On our current house we agreed to complete by their year-end (which was only 5 weeks away). In return we negotiated £40k off the price, got them to pay the 3% stamp duty, and got them to throw in £8k worth of carptets!

Play hard-ball, and I bet you'll get an excellent deal!

I used to work for a developer and people DID make offers... it was surprising to see the difference between what people were paying for the same house. Some paid the advertised price - others haggled and got them much cheaper.

Won't hurt to ask!

Are you kidding? they have been on the market for months and still not sold? Then of course make an offer and don't even think about paying the full price. Not sold in months = probably overpriced and/ or people were worried about the likelihood of the development being finished to standard/ within planned timetable. Who cares if you look foolish?

Remember that when you buy a new-build you are paying a hefty developers' premium (their profit margin) and essentially paying extra for newness.

pernickety go in lower than you are even thinking
then you might be lucky and get that price or work up abit
be sure to point out, you are ready to go, and once people see people living in the houses they will start to sell quicker
,
convince that builder he should be paying you to move in

Absolutely make an offer. The builder has huge amounts of capital tied up these houses, which he will want to release for the next project. If it's a small builder, some of the houses may need to be sold before he can pay off sub-contractors.

I've known builders go bankrupt while waiting for new properties to sell, so go for it, and go in low, say 30% less than the asking price. If it's too low, they will make a counter-offer.

Thanks everyone. We viewed the house again, without the children, and had a good look over everything. The master bedroom is too small. It's a bit of a joke that they think a bed can even fit into the room. The rest of the house was still desirable but that factor killed it for us.

pernickety good for you - pet hate of mine, tiny rooms.

Negotiate hard would be my advice. It's a buyer's market especially for new builds. We bought late last year and got £35k off the asking price, stamp duty paid and all sorts of other 'extras'. Remember there's high margins on new builds so lots of scope for negotiation and a house sold is cash in the bank for the builder.

Good luck.

Definitely never pay the advertised price.15% off asking price is definitely a good place to start. I would aim for 10% off value off house then whatever else you can get them to throw in. Especially If your in a good position ie chain free.

2 years go we were looking at a new build. We were chain free, cash deposit, mortgage in place. We got them down by 5% but they wouldn't budge as the house was just at the foundation stage. Those houses are still for sale now at 10% less than they were asking then. The development is finished and they still have a stack they can't sell. Plus they have scraped the next stage of the development!

Have a look on right move website. You cam check the actual price houses have sold for. It'll give you an idea how much similar new builds on that development have sold for.

Good luck