buying a house that has been part exchanged house for another house?

karie

ciano125 wrote: »

There are so many things that could go wrong in the next six months though, honestly, don't part with ANY money until a lot nearer the time. Also, with regards to their half year figures, they will be desparate to get money in, so offer low and hold your ground, they'll sell cheap I can assure you.

hi ciano, hi mumoftwins

i think you are both right about getting it for less in a few months time. we do like the house a lot, but there will be others, and less complicated ones at that. just have been waiting for a long time and now keen to get moving into somewhere! if we are still looking after the summer we will consider viewing it again then. for now it all seems a little bit too dodgy for my liking!!

xx

mumoftwins

karie wrote: »

hi ciano, hi mumoftwins

i think you are both right about getting it for less in a few months time. we do like the house a lot, but there will be others, and less complicated ones at that. just have been waiting for a long time and now keen to get moving into somewhere! if we are still looking after the summer we will consider viewing it again then. for now it all seems a little bit too dodgy for my liking!!

xx

You may well be right, however at least if you have exchanged contracts with a completion date for whenever, then you can sit back and relax knowing that the house will be yours. You may find that buying through an ordinary chain could have its downfalls such as: a buyer/vendor pulling out part way through the transaction after you have spent out money on surveys, reports etc.

Do you know if the buyers of the new build have actually exchanged contracts yet? If they have then they have committed themselves to buying so it is an even safer route for you to go and purchase as neither DWH or the occupiers will back out.

Whereabouts is this part ex property? Curiosity on my part due to having worked for DWH so may be able to help if I know which office of DWH is dealing with it.

silvercar

Good point that DWH will never own it (if they can avoid it) so the price will never appear.

Remember also that the current owners are part exchanging, so provided the new build price meets valuation it is possible for the price to be inflated. eg new build price = 220k, other one= 180k difference = 40k. The buyers aren't going to be bothered if DWH shifts everything up 10k - new build now 230k and the other one 190k. It makes the new build look good for comparison purposes and the resale one like a good deal could be had.

space_rider

I bought a house that was part exchange with a builder. I bought it for £145 and builder bought it for £165. They insisted on a completion of 28 days as the vendors were within days of moving out when I viewed it. I actually did it in less than 28 days!