Selling two properties, buying a new build. Possibly.

Aph_3

Hi there.

I live in a three bed semi. Mrs Aph lives in a two bed apartment. We're planning to sell both our properties and buy a new build four bed detached together.

Although they're not yet on the market, we're thinking we'll have around £160-170k of equity once the sales of our current places go through. The house we're interested in buying is due to be built early next year. We're being quoted £225k by the builder.

So I thought I'd come here and ask you good people for your opinion, and to document the process.

Firstly, has anyone got experience of selling two properties simultaneously and putting the proceeds into one property? If so, what sort of pitfalls should I expect that wouldn't apply to a normal process?

Secondly, the builder has mentioned a part exchange on whichever is the last of our current properties to be sold. What sort of implications would this have for negotiating a reduced price for the new house?

Lastly, the builder has mentioned an "estate charge" of £150 per annum for the new property. This is a new one on me, so I'm wondering on the legitimacy and/or normality of builders adding this. What are the chances of me being able to tell them "no" to giving them £150 a year perpetually?

Thanks in advance. I'm sure I'll return to the thread as and when more details become available.

Cheers.

poppysarah

estate charge could go from 150 to 1000... depends what's in it and what is it supposed to cover... presumably mowing edges etc - some estates are "private" so council doesn't look after them. Might cover roads etc too.

daveski

We're trying to do something similar. A 3 bed apartment and a 2 bed house. Want to buy a 3 - 4 bed house. Both houses are on the market at present.

I did get some money off the HIPs and potential conveyancing fees by haggling with the solicitors and offering them the work on both the houses. Worth a try.