PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.

Part exchanging with Redrow

Dannyboy01
Dannyboy01 Posts: 1 Newbie
in House buying, renting & selling
I was hoping to by a new house from Redrow but before I was about to sign on the dotted line the buyer of my current property has backed out. Redrow have offered part ex but won't say how much they'll give. Apparently they will get 3 local agents to value my house and then make me an offer from there. Obviously I've got a rough idea what it's worth but am not expecting Redrow to pay full asking price. Does anyone know what sort of figure they'd look to knock off either by cash or percentage?

Comments

  • jimmydee1984
    jimmydee1984 Posts: 6 Forumite
    Our house is on the market for £104,950 and we were offered between £95 - 98k as a part ex with Bloor Homes. It's the same process with Redrow by the sounds of it. The benefit of the Bloor Homes one is that they'll then add on 5% extra. Don't know if Redrow offer this.

    From the examples they showed us, it was averaging at £5 - 15k below the asking price.

    Hope this helps :)
  • terrierlady
    terrierlady Posts: 1,742 Forumite
    92% of market value is the norm ,,, thats not selling price.developers dont buy homes they sell them but the ease of part exchange and convience make people happy.
    my bark is worse than my bite!!!!!!!!
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 350K Banking & Borrowing
  • 252.7K Reduce Debt & Boost Income
  • 453.1K Spending & Discounts
  • 243K Work, Benefits & Business
  • 619.9K Mortgages, Homes & Bills
  • 176.5K Life & Family
  • 255.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 15.1K Coronavirus Support Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture