Part Ex Property for sale

ally1_2

The answer here is to negotiate. Developers tend to buy houses at 90 - 95% of value. Sellers accept the deal as it avoids estate agencies fees and the usual hassle of a bridging loan. Most developers are looking to turn these houses as quick as possible to ease their own cashflow but will be looking to cover their costs. You are in a good position if you can settle quickly and don't have anything to sell yourself. Try speaking to someone senior in the companys sales dept.

good luck

samspam

I can help on this one, I buy in PX properties.

The price we offer when buying in is based on 3 EA 4 week sale valuations and also the valuation of a surveyor. We then take of 5K to try to cover some costs and thats the amount we offer.

We then market the house at 5-10k above what we paid assuming that a prospective purchaser will make an offer. We DO NOT make money on PX's often we are stuck with them!

One thing is for sure though, the builder will want the house sold BEFORE the owners move in to their new house.

Find out when they need to move buy, if it's not far away and you are ready to go with mortgage offer in place and everything and offer to use the builders nominated Solicitor and Financial Advisor, I'd stick by your guns.

If they still have a longer time to sell the house they might hang fire for a better offer.

RUSTY1966

I have already appointed a solicitor but not signed anything yet or paid any money.

Will their solicitor deal with the sale of my house or just the purchase of the part ex property. Am I stuck with my solicitor now that I have appointed

R

Jorgan_2

The solicitor can deal with either the sale or purchase, it depends on what you instruct them to do. It is usually best to have the same solictor acting for the sale & purchase, its a lot easier. Ypu don't have to be stuck with the solicitor you have appointed, check any terms & conditions they may have to see if you are liable for anything.

RUSTY1966

Sorry to revive an old thread but I just can't help feeling verry pleased with myself!!!

This property is still on the market. One of a same designe, but in tip top nick with coservatory and converted garage (didning room and study) has just come back on the market (£199995) as original buyers have pulled out (we viewed this property back in april and realy liked it but we hadn't sold at the time). We've just had our offer of 195000 accepted.

Still a long way to go before completion etc but walking away was the right thing to do on this occasion


Rusty