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    • Iloveabargain
    • By Iloveabargain 9th Sep 17, 8:58 PM
    • 2Posts
    • 0Thanks
    Buying a house that has been part exchanged
    • #1
    • 9th Sep 17, 8:58 PM
    Buying a house that has been part exchanged 9th Sep 17 at 8:58 PM
    We are looking to buy a house and saw one today which is empty and the estate agent said the owners used it to part exchange on a new house. It is on with 3 agents & they said they have had an offer but it was rejected.

    We have accepted an offer on our current house and our buyer is moving into rented until we find somewhere so are in a good position. Just wondering if anyone has experience buying a part exchanged property and if they got a good deal or had to offer the asking price?

Page 1
    • gettingtheresometime
    • By gettingtheresometime 9th Sep 17, 9:13 PM
    • 2,760 Posts
    • 6,176 Thanks
    • #2
    • 9th Sep 17, 9:13 PM
    • #2
    • 9th Sep 17, 9:13 PM
    We bought our current house back in '97 that was a part exchange.

    It suited us, as at the time we hadn't even contemplated moving so by the time we'd put our house on the market & found a buyer it was relatively straight forward to do the timings.

    We offered the asking price but because our house wasn't even on the market at that stage it was initially rejected - until we pointed out that the buyers would be expected to wait 6 months until the sellers house was built & that we had plans to deal with the house should it not sell.

    At the end of the day you're still buying a house, you carry out the same due diligence what's the difference?
    Lloyds OD / Natwest OD / PO CC / Wescott cleared thanks to the 1 debt v 100 day challenge

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    • davidmcn
    • By davidmcn 9th Sep 17, 9:44 PM
    • 5,794 Posts
    • 5,544 Thanks
    • #3
    • 9th Sep 17, 9:44 PM
    • #3
    • 9th Sep 17, 9:44 PM
    They'll want to get rid of it quickly - empty houses are expensive to insure and they're not getting any benefit from occupying or renting it out. So you're likely to get a better deal than you would from an owner-occupier who has unrealistic ideas of how much their house is worth.
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