New Builds and Part Exchange

wheezy

Just wondered if properties on Market are only considered for part ex? We are part way through an attic conversion before putting property up for sale but have seen a new build we are interested in. Do you think we would be considered

micflair_2

wheezy wrote: »

Just wondered if properties on Market are only considered for part ex? We are part way through an attic conversion before putting property up for sale but have seen a new build we are interested in. Do you think we would be considered

Ooo not sure on that one, im pretty sure they wouldn't do anything untill you had completed all your work - which is the same for a private sale! Good luck tho mate!

ayrshire_buddy

Wheezy,

We have just part ex and our house was not already on the market.
In fact their was a few jobs I was just about to start before putting it on the market - we had wallpaper removed from one room, no flooring in toilet, etc.
Appeared to make no difference to housebuilder.

I would imagine it would depend on what stage you are at with your conversion and how the works currently impact the rest of house i.e is it safe at present, is their half-built staircase, have you got planning permission ?

Might just be a case of completing the bare minimum, making safe and leaving it as work in progress for next owner.

wheezy

It may be worth asking then. I just didn't want total humiliation! Many thanks for replies.

jonomassey

Update on my part ex with Barratts, we have the surveyor coming round tomorrow to look at our house. Anybody who has had this done did the surveyor tell you off any problems when he was at your house or did you have to wait for the report? I'm getting nervous now as with it being a 1900 house they are bound to find a few problems with it....

Also the mortgage broker has found us a good mortgage but its with Nationwide. I know they value new houses as second hand but he said they did another property on our development and all was fine. Has anybody else got a mortgage with Nationwide and what was the valuation compared to the asking price?

MeShell

Jono- The surveyor didnt tell us anything i didnt ask though (ours is a 7 year old property so wasnt worried)
We are also with nationwide valuation was done yesterday (computer error meant it got cancelled by accident and they'd only just realised 10 days later!) and it all came back fine so i wouldnt worry. We were also with Nationwide when we bought the property we are in now as a new build and didnt have a problem then either.


HTH

micflair_2

jonomassey wrote: »

Update on my part ex with Barratts, we have the surveyor coming round tomorrow to look at our house. Anybody who has had this done did the surveyor tell you off any problems when he was at your house or did you have to wait for the report? I'm getting nervous now as with it being a 1900 house they are bound to find a few problems with it....

Also the mortgage broker has found us a good mortgage but its with Nationwide. I know they value new houses as second hand but he said they did another property on our development and all was fine. Has anybody else got a mortgage with Nationwide and what was the valuation compared to the asking price?

Hey mate. My house was built in 1894 or so, surveyor found a few little niggles and they when the report come in they wanted me to knock 800quid off there offer for the part exchange, I told them to sling it and then as quick as that they said it didn't matter, they would still offer me the same amount as originally agreed. Dont worry about it, if there was anything major you would probably know about it already!

And no, the guy specifically would not tell me if there was any problems, I asked him and he said he cant tell me.. haha

oggy1511_2

jonomassey wrote: »

Update on my part ex with Barratts, we have the surveyor coming round tomorrow to look at our house. Anybody who has had this done did the surveyor tell you off any problems when he was at your house or did you have to wait for the report? I'm getting nervous now as with it being a 1900 house they are bound to find a few problems with it....

Also the mortgage broker has found us a good mortgage but its with Nationwide. I know they value new houses as second hand but he said they did another property on our development and all was fine. Has anybody else got a mortgage with Nationwide and what was the valuation compared to the asking price?

We are just about to cmplete with our part exchange when our surveyor we asked him and he gladly told us mate
Oggy

jonomassey

Right update from today, Surveyor has been and he said nothing major needs to be done. He took me around the house with him and pointed out things that he will recommend to be done. They are as follows.

1) Roof has a few holes in it from were slates have moved so he said he would recommend these to be fixed before next winter.
2) In our attic there is about a 4ft x 4ft hole into next door so he said we need to get that blocked either by brick or fire proof plaster board to meet current health and safety regs
3) His damp meter found moisture in the walls in the living room. We have had this treated once before and there is no physical sign of damp but he thinks barratts may send out a professional damp expert to have a look.
4) Signs of subsidence on the property and asked if there has ever been a claim against the coal board which there was back in 1985 and he said this should be enough to cover us on this as we have a copy of the report.

He basically said ours was a typical example of a 1900 house and nothing he hasn't seen before or to worry about. So I guess I now wait and see what barratt want us to fix.

Also had our mortgage in principal today, were now going with abbey as got a cheaper fixed rate and also they don't down value new builds as much as nationwide. So fingers crossed all should be ok now for when we exchange on 8th July.

MeShell

Seems promising Jono let us know what Barratt say

Well we are having a tough time of it at the moment. nationwide still havent sent our application to the underwriters and have admitted it keeps getting overlooked. They've told us that we should get our offer by next friday and i may have raised my voice and told them it wasnt good enough seeing as they told me we'd have it today and we want to exchange on wednesday.
Am going to have to chase them everyday next week i think, cant believe its taken them 3 weeks as it is.
We only have until next friday till exchange before Bovis will most probably pull out so am slightly stressed. And of course we cant booked any removals etc either until its all set in stone.

And breathe......