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mobeyone

New Development Attempting To Attract Buyers..

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A stack of new builds not far from where I live have just put up new boards with the following:

"5% deposit paid for"

"£500 Legal fees included"

"carpet/flooring free"

There are numbers of these new builds which are nearing completion.. and looks like they are struggling to sell!!!!

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A stack of new builds not far from where I live have just put up new boards with the following:

"5% deposit paid for"

"£500 Legal fees included"

"carpet/flooring free"

There are numbers of these new builds which are nearing completion.. and looks like they are struggling to sell!!!!

It should be replaced with:

  • Good workmanship

  • Quality materials used

  • Decent sized rooms

  • and most importantly.......realistically priced

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Guest DissipatedYouthIsValuable
It should be replaced with:
  • Good workmanship

  • Quality materials used

  • Decent sized rooms

  • and most importantly.......realistically priced

Even an estate agent might balk at using that degree of misrepresentation in advertising a newbuild.

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It should be replaced with:
  • Good workmanship

  • Quality materials used

  • Decent sized rooms

  • and most importantly.......realistically priced

In the case of the many newbuild 'apartments' near me, that would be a contravention of the Trades Descriptions Act. :lol:

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If they could add 'closing down - 50% off this weekend' to above list I'd be attracted :lol:

Would this be the same as a "BOGOF" - Buy One Get One Free. :rolleyes::rolleyes:

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also remember that any such form of inducement to buy is a de facto price cut but will not appear in the house price stats the Halifax and co produce.....

Marketing properties to BTL with ........''we'll pay your 1st 2years' rent''.....or similar deals to owner occupiers ..is like knocking 10% off the price but the transaction will go through as overvalued figure......overstating the property's value by more than 10%

Same with cashback deals .....

Edited by Michael

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Yeah... but would you really? :unsure:

I wouldn't. I don't want to own property as an investment, particularly. Because it has to be geared, it's always to some extent speculative. Plus it's a hassle and transaction costs are high.

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I wouldn't. I don't want to own property as an investment, particularly. Because it has to be geared, it's always to some extent speculative. Plus it's a hassle and transaction costs are high.

But, for the moment, the loan interest qualifies for income tax relief - whereas loans to purchase most other investments do not.

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A stack of new builds not far from where I live have just put up new boards with the following:

"5% deposit paid for"

"£500 Legal fees included"

"carpet/flooring free"

There are numbers of these new builds which are nearing completion.. and looks like they are struggling to sell!!!!

They will always struggle to sell at this time of the year, I never understand why builders do not just build their properties so that they are all ready between April and August. I will concede that the market is looking a little more fragile this year than in previous years though.

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A stack of new builds not far from where I live have just put up new boards with the following:

"5% deposit paid for"

"£500 Legal fees included"

"carpet/flooring free"

There are numbers of these new builds which are nearing completion.. and looks like they are struggling to sell!!!!

To attempt to be objective for a second, these kinds of 'offers' have been quite common around where I live all through the boom although not quite as common as at the end of the last one. I get the impression that most large scale new developments are aimed at people who are only just able to afford to buy so allowing them to add all of these things to the loan amount (which you can't easily do on pre-existing houses without going for a Northern Rock style 125% deal) makes them easier to shift regardless of the state of the market.

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