Underbid on new build

C

camel

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Hi, is it possible to put in an 'offer' on a new build development under the asking price. I know it's obviously technically possible, but do others out there have experience of successfully doing this? Will the agent take the offer to the developer?
 
Hi,

I'm not sure if this is very helpful but I did offer on my current house, it was 5 years ago and things were starting to fly off the walls then. I offered 3k irish punts lower and the builder was delighted even then. I am currently in the process of buying a site for a selfbuild and was recently wondering was I mad to be taking on all this work so I went out and about to see houses similar to what I'm looking to build. I met with alot (4 or 5) of the developers and the asking prices were from 600 to 495k........... they all were " sure make me on offer" even one local builder who I just rang and said to him " so what are we really talking" he said a price 15k lower that the sherry fitz advertised price ( no offence to them their only doing what their told) and I didn't even meet this guy, just on the phone. So I'd say totally go for it. If your a ftb or have sale agreed even in a boyent market at this time of year your in a good buying place, in this climate your a developers P Diddy in Wiers!!

Best of luck
 
Just to get back to Camel's point - what would be an "acceptable" bid for a new build in the current market? less than 10% of the asking price?
 
highlights said:
Just to get back to Camel's point - what would be an "acceptable" bid for a new build in the current market? less than 10% of the asking price?
Click to expand...

Is this not the wrong way to look at it? You need to look at what you would be able to sell it for the day after buying it.

If a new build is going for 600k but all the other houses around are only going for 450k then the house is worth 450k - ie if you had to sell the most you'd get is 450k
 
Have seen a place I like for 550k, it's a new build in town. Might test this and see would the developers be willing to negotiate at all...
 
Well, whatever about what you can sell it for the day after buying it. Given the current drop off in the market, if it continues we should think about what we can sell the house for in 3+ years time. Possibly significantly less? (note: no need to discuss falling market...it's been done to death)
 
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