Part Exchange / Move with us?

wen-tom

Hi,
We are currently awaiting a valuation on our house so that we can part exchange with Stamford Homes. Does anyone have any experience of part x with stamford?

They appoint a company called move with us to basically instruct 2 agents to value our house. Sounds like Move With Us do all the negotiating. Has anyone dealt with them?

What is a realistic offer? Our house was last valued in 2009 for re mortgage at £95,000. Stamford say this valuation is different to a sale valuation? The house next door but 1 is currently on sale for £109,000.

We are totally new to this so any help would be appreciated.

There are only 2 plots left on the site and the sales lady said that they have made 3 offers for part x this week so I dont rate our chances of actually getting in there but she said that they will continue to value houses of interested parties until someone accepts their offer.

Thanks....

wen-tom

no one have any help for me?

MissMotivation

Move With Us with will ask the agents they appoint for 3 figures

A valuation to achieve a sale within 6/8 weeks
Target achievable price
and
Baseline risk price (basically worst case scenario, got to sell within 48 hours)

They will generally work on the baseline risk price and base their offer on that.

They have just offered a client of mine £205,000 and a property that is being marketed at £240,000.

wen-tom

Thanks, we had move with us call us today and they have said that after a preliminary search they would offer us £75k. The house is worth between £95-105k!

They are now asking stamford homes whether they want them to go ahead with the actua valuations

Looks like we'll be doing this the hard way!

Suzanne_Louise

We had a terrible experience with Stamford Homes last year. They were advertising a 95% mortgage in conjunection with RBS. We had already sold our house, so decided to go through that. However, it transpired after around 5 weeks that this product didn't even exist and the house sale fell through. We never got our £500 deposit back from them either.

wen-tom

oh dear!
They havent mentioned mortgages to us at all. only that we had to talk with their mortgage advice people to show that we could afford the house.
We have done that and they sent a msg to the development to say that we could.

Do we have to organise our mortgage through them? we do have our own IFA and would like to use him.

I have spoken with the area manager today who has put the valuation back in motion!

Suzanne_Louise

No, you don't have to do a mortgage through them. We too went through the affordability process before we paid our deposit on the plot. However, they were actively advertising that mortgage product via e-mail, and on local radio. When the mortgage broker came round, he enquired about it, and was told it was available on the plot we'd reserved, so we took it from there. However, they pulled out of the deal with RBS (heard different stories from the new homes mortgage company and Stamford). We tried every other possibility on raising the extra finance (we didn't know that you needed 80% LTV on a new home). I own a home that's currently rented out, so we even tried equity release on that, but to no avail, so we had no option than to pull out of the deal.Stamford promised us our deposit back, but we never received it. However, I went to the site last weekend, and in hindsight, I'm relieved we didn't buy there, as it's fully developed now with cars parked on pavements etc, and all very cramped, so a good thing in the long run!

wen-tom

Thanks Suzanne

I've called our IFA.

Well, we are now waiting on their official offer. Hopefully it will be today so that we know where we stand!

Has anyone had any success getting the house price dropped as well as part exchange? They have some lovely town houses which are sitting empty but are out of my budget!

What do you think my chances are of getting them to drop the price of they offer me way below market value for mine?