7 tips for lowering the promoter’s buyer modification works’ quote
When buying off-plan property, purchasers of off-plan housing purchased in the future state of completion have the option of requesting modifications from the developer. These requests for changes to the initial plan must be made according to certain rules and with the right timing.
We see on some forums people to whom real estate developers want to charge 4000 euros in terms of TMA estimate to add additional toilets or even 14,000 euros of insane estimate to replace a large bay window with French openings by space-saving sliding windows…
When the rates are very obviously excessive, the declared objective of the promoters is to discourage buyers from making such changes so as not to disrupt their organization.
How in these cases to lower the TMA estimate while obtaining what you want?
Anticipate!
By doing so BEFORE signing the reservation contract to discuss your requests for modification work or during the 10-day withdrawal period. You still have bargaining power in these moments since you are always likely to retract, which is not in the promoter’s interest to lose a serious potential buyer.
Use the withdrawal period wisely
Once the reservation contract has been signed with the promoter, you have the possibility of changing your mind. This is the famous right of withdrawal. It runs from the day after the day you receive the reservation contract signed by the promoter at home by registered letter.
10 days on the scale of a construction, it is not long at all, even if it is often lengthened since it starts in the facts the day after the 1st presentation of the registered letter that you receive notifying you officially the contract or its delivery by hand.
If you have not consulted an interior designer specializing in VEFA BEFORE signing for this or that lot, there is still time during your withdrawal period. Indeed, investing a few hundred euros in the advice of an expert in optimizing the plans for your future home will bring you real added value.
This decision will allow you to avoid making mistakes, will also allow you to validate your project or, on the contrary, to withdraw from the promoter. You will be supported by a professional who knows its inner workings and the habits and customs of real estate developers.
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Adhere to the construction schedule and schedule
Any real estate program must meet a precise construction schedule so that the various trades can intervene at the right time and that the site does not fall behind schedule.
Respecting the construction schedule will already put your developer in a good position with regard to your TMA requests.
By respecting the classic deadline of 1 month to formulate all your complete TMA requests after signing the reservation contract. This period is standard, but in most cases you can ask to extend it.
Ask for the TMA price list
Some promoters immediately offer a price list when signing the reservation contract. Prices for adding electrical outlets, removing a partition, adding motorized roller shutters, replacing the bathtub with a shower in the bathroom, etc.
However, this is not yet the norm among all promoters. If you don’t have a proposed list, ask for an idea of the prices when meeting with the sales advisor in the sales office.
This will give you a budget idea for making changes to your plan.
Negotiate TMA quote rates
Negotiate the rates of the TMA Estimate that is offered to you, what’s more if the rates seem prohibitive like 4000€ to install a toilet… Don’t be shy. Discuss, argue.
In conclusion, the more you think about your project well in advance, by getting advice from a professional in particular, the more possibilities you will have of lowering the score of the Buyer Modification Works and therefore the overall score of your real estate purchase.
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Negotiate filing fees
In addition to the prices of the various modifications contained in the estimate, the promoters apply administrative costs which vary between 250 and 650€.
Our advice is to negotiate the application fees directly in advance during your appointment with the sales advisor in the sales office.
Ask to apply the capital losses in the TMA quote
In order to respect the buyer-seller balance, the promoter is required to subtract the amounts corresponding to the equipment that you do not wish to install.
For example, you don’t want 2 bathrooms but only one, or you want to remove a cupboard to be able to choose your own doors after delivery. Some promoters refuse to apply these capital losses and we strongly advise you to anticipate this in the clauses before signing your reservation contract in order to avoid surprises when signing the TMA quote.
It is therefore possible to lower the promoter’s quote for buyer modification works, by anticipating well in advance of the transaction.
