Builders offer cash-back to tempt cautious buyers
DESPERATE house sellers are resorting to giving cash back in order to lure buyers back to the slowing housing market.
Developer Walsh Maguire is the latest to offer cash incentives to encourage nervous buyers back to the market through a "cash back guarantee" for new home buyers.
The builder says it will guarantee to buy back homes for a period of five years from the date of purchase at the original price after 18 months has lapsed if the buyer gets itchy feet after purchasing one of 16 new five-bedroom homes at its development in West Dublin.
The developer said the scheme allays worries about negative equity. The homes were launched at €695,000 but now sell for €595,000.
- Allison Bray
