Buying a brand new home could prove a shrewd move as recovery in the property market heralds the return of gazumping and sealed bids. Estate agents this week claimed gazumping – where buyers lose out at the last minute to a higher bid – is back in some areas of the second hand market. Sealed bids are also being used for some properties where demand is high.
Sara Taylor, sales and marketing director for Taylor Wimpey in South Wales, comments: “Confidence is returning to the property market but, with this, comes some uncertainty for buyers as competition for houses hots up. Buying new enables purchasers to secure their home at a guaranteed price with no danger that someone will come in with a higher offer.”
Taylor Wimpey, which builds new homes under the Bryant Homes and George Wimpey brands, has also seen an increase in cash buyers investing in property and a move towards buying ‘off plan’, where purchasers commit to buy sometimes months ahead of homes being completed.
“Both these trends signal confidence in the market and suggest that people feel buying at today’s prices is a sound investment,” says Sara. “This coincides with recent reports from Nationwide that house prices rose in May and data from Hometrack which showed an increase in the number of buyers registering their interest with estate agents.”
But according to Taylor Wimpey, those looking to move are still concerned about getting the right mortgage and want to minimise the hassle and cost of selling their property.
“Savvy buyers are looking for a competitive deal,” Sara continues: “We’ve recently launched an initiative designed to save buyers time and money by tailoring a package of measures to individual circumstances. First time buyers can receive a free mortgage broker service, free removals service and get a competitive mortgage quote within just 72 hours. For those with a house to sell, Taylor Wimpey will also provide a fast valuation on their current property, market their existing home, pay estate agents fees, provide help with legal fees and take care of their Home Information Pack.”
Taylor Wimpey is currently building new homes at its 19 developments across the region, from Cardiff to Caerphilly.
See Also: Property News (5994)
Date Published: 15 June 2009
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