Is it possible to negotiate a new house price?

Kinetic^

Currently looking at a new house, it was a cancellation......wouldn't mind paying 10k less, anybody ever grind a new house price down?

seamus

For the last few years it hasn't been possible. The builder would just tell you to hop it because they know another buyer will just fill your space.

May be worth a go now.

Kinetic^

It wouldn't be in the budget of most first time buyers so it eliminates a good chunk of people out there looking to buy. I'm not viewing it for another week or so due to time contraints. If it's still there, I'll view, then wait another week and see if I can get another viewing. There's no rush on my part and I don't want to be to keen if I'm looking to negotiate. I actually rang up about the apartments they had but then she told me about this.

Zambia

Kenny 5 wrote:

It wouldn't be in the budget of most first time buyers so it eliminates a good chunk of people out there looking to buy. I'm not viewing it for another week or so due to time contraints. If it's still there, I'll view, then wait another week and see if I can get another viewing. There's no rush on my part and I don't want to be to keen if I'm looking to negotiate. I actually rang up about the apartments they had but then she told me about this.

Wait till you see what the bida are doing then go under 10 k less if no one is biting , stating you are unable to raise more and aknowledging its a low bid.

whizzbang

Depending on the asking price you might even get away with a bigger reduction, how much are they asking for it now?

Kinetic^

It's €480k.

whizzbang

I should have asked a few more questions..

Was it a one off or part of a development

If it is part of a Development are any of the other units unsold?

What part of the country is it in?

How long has it been completed?

Kinetic^

The house in question is the last of it's kind in the development. It's in Dublin 14. It's a small enough development compared to the others going up these days. Less than 80 units afaik, mostly houses with 20 apts going in soon.

whizzbang

fair enough, I'd go with 455k and let him talk you up to 460k. If he is a developer he is well aware of the state of the market and how sales are much much slower, he should be happy to finish up this phase of the development so he can move onto the next thing. He is still making a monster profit either way if he built the place.

If you discover that it has been on the market for a few months you might even be able to pitch lower.

Is he offering any freebies like a free kitchen or a few months mortgage paid? That would indicate his keenness to sell.

Kinetic^

whizzbang wrote:

Is he offering any freebies like a free kitchen or a few months mortgage paid? That would indicate his keenness to sell.

Not that I'm aware of yet. Will have a big bunch of questions for them when/after I view it.

Lex Luthor

I'd be inclined to give it a go...nothing to lose...450-455 sounds like a good starting point

Kinetic^

Just got word from them, won't be ready for about 2 months so there's quite a bit of time to go before I could bargain I would've thought.

Gives me plenty of time to shift my own place though. *fingers crossed & touch wood*

whizzbang

In two months time I think the slowdown in the property market will be much clearer than now, you may even get it for cheaper!

Also there is a chance that there will be less snags on the place if the developer is trying to offload the house as the market dips.

Kinetic^

Yeah true that Whizzbang. My bank a/c will look better too, crimbo was hard on the credit card

whizzbang

Kenny 5 wrote:

Yeah true that Whizzbang. My bank a/c will look better too, crimbo was hard on the credit card

Yep! that always helps with mortgage approval!