just met with developer, please please advise

U

udnewhouse

Registered User
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26
hi all,

we had met with a developer in may and put in a offer on a site (.29 acre) of €180.00, the sites went to BP and were granteed planning in sept. The developer has five sites to sell. We however have our house to sell also. Our house went up for sale late sept, 14 viewings lots of interest but people (according to es) waiting to see what happens in the new year. We met wit the developer this evening and if we liquadate all our finance's we can offer €150k now as in before xmas and we then additional €10k after when we sell the house..................................................
...........................................................
total no go...........................
thanks but no thanks
...
my hubby is devistated but they have 5 sites to sell,
I really thought it was a good cash in two weeks offer as it's all the monwy we have......

I would like any comments please...

Thank you.
 
I really don’t understand what you’re asking???

You agreed a price of 180k for the site and now you have reduced the offer to 150k and the developer has rejected it?
 
Concentrate on selling your house first. What would happen if your offer was accepted and you found you still couldn't sell in the new year?
 
So basically you offered 160. To pay 150 now and 10 after christmas when you think your house will sell? But builder said no. Would he have said yes if you offered 160 now? Because of course you could get bridging loan of 10. You would have to be sure you could keep up the paymnets on that loan though if your house doesnt sell. Or alternatively just wait for house to sell and then offer. Risk is that you dont get site you want or none are left. Is there a big demand for these sites?
 
Hello, No, no demand for the sites at all. On sale for 9 months and we were the only ones bidding.. lots of interest according to the es but really i've been watching them and there's no-one putting money down, there to expensive. We agreed this price before planning was granted and really before the slow down so we've been there since the begining. I agreed 180 in may and we thought okay they say the wont take less than 205, now we know (through some detective work and it was confirmed by the es on thurday) that for the next site they will take 185 so were like okay 150 cash like next week, and then 10k after. We dont have to wait for the house to sell we could give them 160 now... but OMG ... no way were they even taking one penny less than 180. A word from the recent wise, never trust a player. The whole was through this planning process they are like "oh no one will get a price like you.... once we sell one the pressure is off" and now we know that they'll sell the next one for 5k more( which in this market could be even less) so no were not buying. I think that after 11 months on sale, okay 3 of them are subject to planning but no other offers but ours you can swing for your 180. I mean the one we want is .29 of an acre... correct me if I'm wrong but wasn't that just a big garden a few years ago????

Thanks for all replys,
 
I'm still none the wiser as to what the question/problem is.
 
The OP hasn't asked a question. Just asked for comment. So my comment would be. If the seller doesn't need the money, then they are probably in no hurry to sell, and are prepared to wait and see do they get their asking price. In time they may drop their asking. But not yet. Especially when theres at least one buyer as keen as you.
 
udnewhouse said:
Hello, No, no demand for the sites at all. On sale for 9 months and we were the only ones bidding.. lots of interest according to the es but really i've been watching them and there's no-one putting money down, there to expensive. We agreed this price before planning was granted and really before the slow down so we've been there since the begining. I agreed 180 in may and we thought okay they say the wont take less than 205, now we know (through some detective work and it was confirmed by the es on thurday) that for the next site they will take 185 so were like okay 150 cash like next week, and then 10k after. We dont have to wait for the house to sell we could give them 160 now... but OMG ... no way were they even taking one penny less than 180. A word from the recent wise, never trust a player. The whole was through this planning process they are like "oh no one will get a price like you.... once we sell one the pressure is off" and now we know that they'll sell the next one for 5k more( which in this market could be even less) so no were not buying. I think that after 11 months on sale, okay 3 of them are subject to planning but no other offers but ours you can swing for your 180. I mean the one we want is .29 of an acre... correct me if I'm wrong but wasn't that just a big garden a few years ago????

Thanks for all replys,
Click to expand...

Well do you want the site or not..? and your lucky that the seller hasnt upped his asking price as it now has planning on it..? Did you not sign any contracts with the seller before you applied for planning..you should think yourself lucky that he not asking you for even more money...
 
I am not goping to discuss the state of the Housing market as such a topic is Barred from AAM. However, the market is dropping like a lead balloon and the way the Sub Prime crisis is propelling in the US, the worst seems to be yet to come. I agree with the Post and concentrate on selling your house first. Unfortunately what an EA will tell you has to eb classed as dubious especially in this market. Wait a bit. We are two weeks from Xmas and really nothing is going to happen. In the New Year he will be back to you, don't worry. In 2008 Cash will be King - that I am certain. Don't put yourself under stress by listening to a developer. It's a buyers market.
 
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