New build part exchange questions

pink68

Hi

We've had our house on the market for eight weeks, and although there has been plenty of interest in it we have had no offers on it.

We have now decided to go for a new build and the builders have just been round to look at ours with a view to part exchange.

Does anyone have any experience of whether they are likely to offer us a reasonable figure for ours? they say they'll let us know Friday but I am impatient to know whats happening!:rotfl:

Benji_Brown

It depends what builders you go with. To be honest, most will offer a pretty good price for your property. Sometimes, (especially in this market) it may be more that you wuold actually achieve.

The next step they will take is to arrange some estate agents to come out and value your property. They will usually take the average valuation as what they should offer for yours.

Hope it goes well for you.

pink68

Thanks Benji

thye've said they'll give me a definite price friday or saturday, they were only here for ten minutes!

I think they're pretty keen because we've been looking at this plot for a few weeks and i think they're running out of customers on the site as a whole at the mo. They need us to put down a deposit so they can get on with a little close of five houses, all the others have already signed (or so they say)

fingers crossed they come up with a good figure or we're stuffed! LOL:beer:

Georgie4

I part exed my last house to the one we are currently in - national housebuilder - they offered us £15k less than we had the house on the market for but then gave us a £14k deposit (5%) as well - this coupled with the lack of estate agents costs made it a better deal and we had the comfort of spending 2 days moving from one house to the other - it would have been worth it if it had cost us a little bit for that !!

Georgie4

Sorry should have said there has to be a differential of some kind between what you are selling and what you are buying - 35% in our case - so there will be a ceiling to what they offer

lovemotown

Ahhhhhhhhhh, that's the ideal type of move I am chasing.

However, the builder seems reluctant at this moment in time to reduce the price of the houses. I'm tracking their prices on the internet daily, but also prepping to put mine on the market shortly if they don't.

Georgie4

If its a national builder they WILL reduce the price because at the end of the day they work on volume of houses and no builder can afford to have stock plots- if they come back with an offer that is too low then try to negotiate extras like carpets (you'd be amazed how much carpeting a whole house costs!) or a deposit or stamp duty or legal fees

barnsleygal

Can I ask a little about buying a new build...to anyone who may have more experience with Builders!

We visited a site and found a lovely house that we would consider moving to. The house is 163k (reduced from 190k) - it is a split level 3 story end town house. We love the way it is laid out, etc although we would not have ever considered it at 190k! Far too overpriced. Still think a little overpriced at 163k as, in theory it is just a end terrace (end of row of 3).

Anyway, we went to talk to the sales lady who arranged for local EA to value ours with a view to going on their home exchange scheme (which is they guarantee you a price and market it for less to sell for a period of aprox 6 weeks). We did not get a guarantee of enough to make things financially viable, basically we were 10k short.

The builder would not budge at all on the price of theirs or the offer on ours. I know times are a little tough at the moment but they have houses finised and waiting to be sold!

We have now gone down the road of marketing ours ourselves but as yet no joy!

Do you think it would be worth asking the builder if there is any leeway with price/deposit/carpets, etc??

They seem to be very inflexible. When we first got the figures for the valuation on ours I asked if there was any room for negotiation on the price of theirs and she just told me to sell my own house and then there may be!

We really like this development and the house and I have dropped a couple of emails across to them laying cards on the table, etc. I know this would probably be a no-no with builders but I refuse to play games...we want what they are selling but are just a little short! Why play games? Anyway, needless to say,we recieved absolutely nothing back from them, no response whatsoever! Not even a courtesey call to acknowledge our enquiry!

I know, after the appalling customer service from this builder, we should really just walk away but we really like the house!!!

Any advice???

Thanks,

Julie x

skintlass

It wouldn't be George Wimpey would it - I found them very inflexible when I was trying to do a deal on their newbuilds and they've actually put the prices up on that development again.

lovemotown

I'm in the same dilemma. I have seen a house I like, but in my opinion way, way over priced. They gave me a p/x valuation, (which isn't a million miles out), yet seem to think because they would be taking mine in p/x, they are doing us a massive favour and won't budge on the price of theirs. Same situation - they have loads of houses just sat empty. You would have thought they would be prepared to negotiate, but would appear not. I am considering marketing mine at a price to sell, and if lucky enough to sell, go back with a cash offer, or find somewhere else.

Jonbvn

You are not in a strong position when your part-ex to buy a new-build. This is the reason they are inflexible. Remember that when the deal is done, they still have to sell your existing house.

It is usually far better to sell your own hourse rather than part-ex. You will have a much stronger position to negotiate with cash in hand.