Post by jamesonontherocks on Jun 14, 2012 16:02:06 GMT -5
How low can you go below asking price when putting an offer in on new construction? Realistically, the shouldn't be anything majorly wrong with it. Thanks.
Is it in a neighborhood where the builder has several homes? If so, the answer is generally not much if any. That's because your sales price impacts the comps for the builder's other properties. You can, however, ask for a ton of upgrades (in my old neighborhood people routinely asked for (and got) fridges, swimming pools, outdoor kitchens, pergolas, fences, custom closet organizers, etc.
Agree with pp - negotiations around new construction in a development usually involve the upgrades that will be included. If it's a one off house that was built on a previously empty plot not part of a development, you might have more wiggle room, but again the upgrades will come into play.
We recently bought new construction in FL and there was no negotiation on base price. I have heard this from many people who have bought new construction.
We did, however, ask for about $10K in upgrades and all closing costs. The builder agreed to everything.
We did a production built new construction earlier this year. No negotiation on anything, no upgrades, nothing. When the house was a week from construction, the house failed appraisal and the builder still refused to negotiate and we walked. We did get our earnest money and deposits returned.
Our home was "quick move in" house by the builder. Meaning it was built, appliances were in, walls painted, etc. When we looked at it they were waiting on the flooring, but it was picked out. They did not budge on price. According to them everything was in and the price was laid out in the contract, they had just lowered the base price, etc. We were only able to negotiate on the flooring.
$30k off base price and even more than that in upgrades. It really depends on the builder. Can you look a what other houses in the neighborhood sold for?