Help - we're looking to part-exchange for a new build...

Honeysooze

Hi,

Sorry if this has been posted before, but I can't find anything on it...

We're looking to buy a new-build house (due to be finished in February) and we'd like some help on what to offer. Is it ok to offer below the asking price? Another poster said that theirs was a fixed price.

We know they have reduced the price already, but the price we pay could, in fact, affect whether we can afford it or not. This is the last one available on the site - people have already moved into the others so we know they've been for sale for a while now.

Also, our mortgage guy mentioned something about the builders wanting to sell before their year-end - does anybody know when this is? Of course, if we're close to that and they need their money, that could be a bargaining point.

One other thing, we are signing up to their part-exchange scheme, so they buy our house. Does anyone have experience with this? the agent suggested that they have no leeway on the price if we do go with this scheme.

Thanks for any help - it's much appreciated!

sonastin

You can look up the company's year end details on the Companies House website. If it is the last one on the development, they will be keen to shift it and open to offers. You'll be in a better position to negotiate the purchase price if you don't use the part-ex scheme though - every £k you get knocked off their asking price will probably translate into £k less offered for your place in return. Have you looked at selling privately for a knock-down price instead? I appreciate you might have already tried and failed in this market but its definitely worth trying to sell it yourself if at all possible.

mark5

I've done a part ex in the past and it worked out well for us but dont expect the builder to give you a big discount and take your house in part exchange at a good price.