Part Exhange & Buying a New Build

rodders470

Hi there

I was wondering if anyone has any experience of part exchange when buying a new build?

We're currently waiting for an offer from the developer for our house, which we think will be in the region of £120,000 - slightly less the market value. The house we're interested in is priced at £179,000.

What do you think would be a realistic starting offer? As it's part exhange are we even able to negotiate on the price?

We think buying at asking price would land us in negative equity.

Any advise would be appreciated.

TrickyDicky101

I believe, based on admittedly limited experience, that the builders will give you a part-ex price for your house on the condition you don't try and negotiate on the price of the new build.

misstraddy

Most developers will look at the fact that part exchange is THE deal. However they all have a bottom line on each plot that they can go to, if theres enough left in the pot after their part exchange costs, then you may be able to negotiate further. I would suggest trying for carpets/flooring unless its already included, or stamp duty paid, etc. Depending on what they offer for your property and if its less than you were expecting, they wont up their offer but may be able to reduce the price on the new property to make up the difference.

Good Luck, let me know how you get on