How do I negotiate buying a newly built but not finished house?
March 16, 2012 8:26 AM Subscribe
How do you negotiate buying a new house that is not completed? (a very basic negotiation question)
posted by pandabearjohnson to Home & Garden (6 answers total)
We have found a new construction that would suite our family and want to make an offer but I don't have any experience doing this. The complicating factor is that we are buying the house directly from the builder, no estate agent involved. (this is a small builder with only two houses in build, not a massive development) The house is finished except for kitchen, floor tiles, wall paint, and landscaping.
I want to negotiate a price for the finished house but obviously the way we chose to finish it will affect the price. I want as much as possible to be covered in the mortgage so I don't have to pay cash out of pocket. In what order do we proceed? Do we pick out the kitchen, tile, and landscaping first and then work on the price? Or do we offer a price for the existing house and negotiate the additional work separately?
Certainly the builder will have suppliers and materials he prefers. I don't have the first idea...I know what I like (example, I know what I want in the kitchen and what quality) but I don't have the first idea about how to go about pricing it.
It feels like I am missing something really obvious here. Any hints?
Also, at what point to we get a surveyor in?