Jump to content
House Price Crash Forum
Sign in to follow this  
killerbee

Home Builder Bellway Cashback

Recommended Posts

Hi all,

Put an offer in today at the estate agents for a new build property, 7.5% below asking price. David the estate agent then told me that "Bellway would want the contracts drawn up at the asking price, any discounts would come in the form of a cashback." I assume it looks bad if they don't achieve the asking price.

Oh yes young David also advised me that "buy to let was still a good option to finance the purchase" and that I should, "speak to Anthony the morgage advisor."

Curiously when Anthony crunched the numbers he found that the rental value after costs would fall short of the repayment burden, "do you mind paying towards the buy to let" he enquired in all seriousness!

I came out of that office wishing more than ever that I didn't have to move!

Still waiting to hear if our offer is accepted.

KILLERBEE

(up the bees)

Share this post


Link to post
Share on other sites

I have had offeres accepted at 20% below asking...

But depends where you are in the country and how things are selling...

and good god I am tired...

Share this post


Link to post
Share on other sites

Put an offer in today at the estate agents for a new build property, 7.5% below asking price. David the estate agent then told me that "Bellway would want the contracts drawn up at the asking price, any discounts would come in the form of a cashback." I assume it looks bad if they don't achieve the asking price.

Of course, this also means that house price surveys do not include the effective 7.5% drop in price. Even the Land Registry cannot take this into account, since the stamp is paid on the contract price.

Share this post


Link to post
Share on other sites

Of course, this also means that house price surveys do not include the effective 7.5% drop in price. Even the Land Registry cannot take this into account, since the stamp is paid on the contract price.

interesting, i wasn't aware of this... another way of spinning things.

Share this post


Link to post
Share on other sites

I almost had an argument with a salesperson in a housebuilders sales office.

ME: How much for this 4 bed semi

Her: £200K

ME: Seems a bit steep. I assume you'll be offering a generous package of incentives like **** up the road, and also negotiate on price.

Her: We can negotiate on price, but we sold 2 last week for full asking price and only have 2 left.

ME: I'm not interested what stupid people did. And there are more than 2 left, there are only 2 left in this 'phase'

Her: They aren't stupid.

ME: Clearly they are, as they could have bought an almost identical house from **** and had a £25K incentive package and negotiated at least another £25K from the price without trying too hard. Anyone who throws away £50K is stupid in my books.

Her: We will be able to sell them all for at or near asking price, they aren't sitting around too long you have to get in quick.

They wanted £200K for the house, but it is now being advertised in the local rag for £185K.

So the asking price has fallen 7.5% between November 2005 and January 2006 - 2 months.

I wouldn't expect that rate of decline to continue but they are going to get mauled.

There are loads of properties being completed by the developers, and loads of resale properties on the same estates now coming onto the market that were bought 2-3 years ago... and the resale properties are currently about £30K lower than the developers are trying to sell at.

I continue to think that the slide will be led by developers who are going to have to start actually dropping prices to sell.

Share this post


Link to post
Share on other sites

interesting, i wasn't aware of this... another way of spinning things.

its happening all the time - all the people i know who bought new build property in the last 12 months have had anything from 5 to 20% cash backs - plus upgraded kitchens, bathrooms etc - doesn't show up in the land registry figures though.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.