Part Exchanging your house

45
Found 4th Oct 2010
Anyone done this,. we are considering buying a new build (off plan) and womdering how fair a price they give on the p/x of ur house?

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Banned

Am I allowed to say no? but tap the walls when you go in

It costs nothing to get evaluations from estate agents. Get three, then you'll have an idea of what you want from p/ex.

I once tried this and they offered me about 80% of the market value

A good friend of mines works selling houses and she often tells me what pitiful offers her company makes to prospective customers. While back when the property market was dire they were making a killing with the real low offers as people were desparate to move but couldnt get their homes sold.

As G1bbuk says - get an evaluation

I did this in 1998, I negotiated a deal on the new build, then asked for part exchange. They offered me 95% of the value of my house, but I saved the estate agents fees and then got a bonus for selling my house for them whilst I was still in it for £5000 less than they had paid me.
Bottom line not all builders will rip you off, but knowing what your house is worth is sensible advice

Original Poster

thanks all!!will get own valuations first then

thanks

Supermod

I am a bit late to the party here, but, get two independent valuations and as long as they are not a million miles apart go for a figure roughly between the two.

Why would you buy a new build ? oO

Banned

choc1969

Why would you buy a new build ? oO



to get exactly what you want plus be energy efficient. The extension we had built last year is the warmest room in the house!

done it last year, they say valuation based on selling your house within 12 weeks.
But you can negotiate, and the lower price you get on your house is offset with the incentives they have at their disposal. For me it is the way to go, no hassle at all.

Original Poster

thing is the location is awesome and i like new builds. its by bellway homes so its a decent enough company...i hope! it will be bought off plan if we buy it but there is a lot of demand so gotta motor if we want it!

When we did it the builders instructed 3 local estate agents and gave us the average of the three valuations. We did go for it.

You will lose nearly all of your bargaining power. Also get a snagging list as most of the new builds I have seen the finish is at best poor.

Sadly most new builds seem to have been built by accountants and not architects.

Original Poster

even a big company like bellway homes?

Banned

Magicbeans thread = repfest!

Banned

Magicbeans threads = Rep Fest

Banned

Magicbeans threads = Rep Fest

Banned

oops!

Banned

these part x are to sell your home for you arent they, where they advertise it? what happens if your home doesnt sell?

Banned

sassie

these part x are to sell your home for you arent they, where they … these part x are to sell your home for you arent they, where they advertise it? what happens if your home doesnt sell?



I think Magicbeans is offline ATM Sassie. Mind you, Phear Factor ain't bad for a bit of rep either!

sassie

these part x are to sell your home for you arent they, where they … these part x are to sell your home for you arent they, where they advertise it? what happens if your home doesnt sell?



No Charles Church actually bought our old house and managed to sell it via the 3 nominated estate agents a couple of months later.

Banned

Somebody

No Charles Church actually bought our old house and managed to sell it … No Charles Church actually bought our old house and managed to sell it via the 3 nominated estate agents a couple of months later.



this i would class as part excchange, but the ones that sell whilst you still in it arent really part ex, they are just selling your home for you, bit of a con

Original Poster

hey guv and sass....well we in 2 minds about that proprty as garden isnt too big...so its not for definite. it would be stress free Part exchanging as could stay in our house till the move...but depends what price they offer....dont mind taking a small hit but not a stupid one.

and guv i repped everyone who replied in my other threads where i asked a question..its nice of ppl to tk time out to reply i reckon! hehe... does it make a difference..is there a thank count?!?

Banned

so what happens if your house doesnt sell by the time the new one is completed?

Sloth/Mod

sassie

so what happens if your house doesnt sell by the time the new one is … so what happens if your house doesnt sell by the time the new one is completed?



Could try and get a bridging loan

Banned

Syzable

Could try and get a bridging loan




maybe there part ex they do actually buy your home, but most i have seen say part ex but in their t&c they actually sell your home so not really part ex, just wondering what happens if it doesnt sell

Sloth/Mod

sassie

maybe there part ex they do actually buy your home, but most i have seen … maybe there part ex they do actually buy your home, but most i have seen say part ex but in their t&c they actually sell your home so not really part ex, just wondering what happens if it doesnt sell



I'm not sure. I've never looked into it. Would be worth checking.

choc19691 person likes this

Why would you buy a new build ? oO



More energy efficient and you get nhbc warranty. I bought mine 4 years ago fully decorated all i did was fill it. I would say the walls are bad cos they just feel like paper walls lol! you cant really put anything heavy on them.

Original Poster

thanks borat.

with a part exchange u stay in ur house till u move after which they put it on the market with an estate agent. they make sure ur house is at least 30% less the value of the property u r buying otherwise they wont px. s
Edited by: "magicbeans" 5th Oct 2010

Banned

magicbeans

thanks borat.with a part exchange u stay in ur house till u move after … thanks borat.with a part exchange u stay in ur house till u move after which they put it on the market with an estate agent. they make sure ur house is at least 30% less the value of the property u r buying otherwise they wont px. s



so your company deffo do it this way then, all the ones i have read that part ex, dont actually part ex, they advertise your home, like an estate agent does, and you have to still be in to show people around, thats why i was wondering what happens if it doesnt sell or maybe i have been misreading it oO
Edited by: "sassie" 5th Oct 2010

Original Poster

oh no goodness....thats annoying. its bellway homes and they do their own independent thing. so will get a slightly lower value i think.

sassie1 person likes this

maybe there part ex they do actually buy your home, but most i have seen … maybe there part ex they do actually buy your home, but most i have seen say part ex but in their t&c they actually sell your home so not really part ex, just wondering what happens if it doesnt sell



We actually handed the keys over to their nominated estate agent. Looking back at the records, our builders actually sold at a loss at £7k less than what they offered us as part exchange.

Original Poster

got 3 estate agents comng round to give their valuations and then going to tk an average!

Banned

would be really interested in how things pan out for you magic

Original Poster

thanks sass

Banned

magicbeans

thanks sass



I bet your current house is worth quite a bit.

Banned

I bet your current house is worth quite a bit.

Original Poster

DLM

I bet your current house is worth quite a bit.



nah...i think they value it dfferently for PX as the estate agents that call keep saying 'we are coming to value for the px' hmmm

im not s sure anyways. garden looks small and looks like its on a slope??

Banned

magicbeans

nah...i think they value it dfferently for PX as the estate agents that … nah...i think they value it dfferently for PX as the estate agents that call keep saying 'we are coming to value for the px' hmmmim not s sure anyways. garden looks small and looks like its on a slope??



Flooding might be a problem but skiing will be a must in winter.

Original Poster

haha skiing on a 3ft slope which is my garden! nah the guy said he emailed them for more details

so 1 of 3 has been. he cant discuss the value sadly but did say they would offer market value or less...... they wont say which one they will. prob not find out till next week. waiting for numero dos!! then number 3 after school run.
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