best deal for part ex?

missbebe

We are currently awaiting valuations back on our property for a part exchange on a new build property.

Can anyone give me any advice on how to get the best deal?

Many thanks in advance.:money:

hebe

We have just part-exchanged on a new-build. The important thing for us was to work out the maximum difference that we wanted to pay between what was offered for ours and the price we could pay for the newbuild. In our case it was £100k. You can't just look at the part-ex price in isolation, you have to balance it against what you can want to pay for the new house.

You may find that your legal fees will be higher than expected, we paid about £120 extra to track down various forms/documents that frankly would not have been needed for a sale to an individual.

We accepted a reasonable offer for our house from the developers, and they sold it within 3 weeks at £11k under what they paid us for it.

Part-exchanging does not compromise your ability to negotiate on price either, we had a further £25k off the asking price, which was on its 3rd reduction already. The only thing I regret is not negotiating harder for stamp duty to be paid too.