Oakers

Has any one done it?? I just had an offer back from a developer and thery where £20K short of the value on the house. Is this the norm? or are they playing hardball??

uksti

I used to work for a developer (as a beanie) and yes you are very probably being stuffed. They factor in the costs of turning the PX along with whatever discount you've got against the list price, then price up the offer accordingly. They're typically carrying between 10-20 % margin depending on how good their land buyer is and that's what you're after a slice of.

Usual caveats apply - popular development, rising prices locally, lots of bookings then the sales-moron won't be working too hard for their commission and may not deal.

Unless you're really in love with the house I'd call their bluff, give them an ultimatum and say you'll walk unless they're prepared to raise their offer (or throw in something nice like interest-free deposit or appliances).

I'll get my coat....

Baz

DMC12

I PXed a 15 year old house for a new one about 2 years ago. They offered £99k, I finally got them to agree to £101k, and they sold it the next day for £104k. If I knew it would sell that quickly I'd have sold it myself.

I've got a friend who's been trying to move for 6 months and he is only in a chain of 3. He's become an old man with the stress and worry of whether he is going to lose his 'dream' new house.

You'll never get that close to market value these days, but it may be worth considering taking the hit just for the convienience. We had absolutly no stress and they even let us keep the keys to the old place for a few days, as the new people weren't ready to move in yet, which even made the move itself a breeze.

Get some independant valuations and see if they'll give you a more 'realistic' offer.

Cheers.

Steve.

MARK MORRIS

i looked into it but they said they would pay a quick sale price, ie about 90% of what its worth on the open market, no hassle but slightly less money, im moving friday with a private sale, lots of hassle and grief but more dosh
mark

Oakers

Thanks, thinking that they may be a bit light on the offer I got a independay value from another estate agents. My house is worth £145k , the developer offerd £123k, quite a bit short I think. I will speak to them again Monday. They either offer more or I walk.

what would scooby do

I p/x'ed last time and only took a hit for about £4k - but seen as is saved me the hassle of selling + estate agents fees etc Ii bit their arm off.

scoob_babe

sounds like you got a good deal there WWSD - our estate agent fees were over £3k alone

fatherpierre

£22000, Oakers!

You'd be a fool to lose that. They're just banking on you being lazy.

If it's worth that much and you want rid why not stick on the market at £5k or so less than value?

Oakers

The annonying thing is that other developers will offer 100% of the value of our house, unfortunately I don't like their houses.

If no joy on Monday I'll stick it up for sale privately.