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Trying to do a complicated Part Exchange
Comments
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Thought I had sorted it out a week ago when the builder offered my buyer the full asking price to part exchange their house.
However despite a second viewing last Saturday our buyers are stalling on making an offer cos they are "talking to the bank and will respond in a couple of days". Apparently they bought their house at the height of the market and are taking a £25k loss on it and they may be struggling to get a mortgage.
Shouldnt they have worked out their finances before asking for a part exchange.
The builder is getting impatient as I am. What should I do?0 -
Be patient. There is nothing you can do. Any threats or ultimatums you put out won't get the buyer into a position to buy your house any sooner. You've just got to let them roll with it. I suppose you could put your house back on the market (if you took it off) to try to find another buyer sooner. But while this is the only buyer you've got, you'll have to wait for them to sort themselves out. No matter how frustrating their actions are. And you might have to pacify the builder too. But if he doesn't have another buyer, he gains nothing by pulling out of this transaction in frustration either.0
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Good advice.
I got an acceptable offer yesterday for my house and put an offer in for the builders house which has been accepted so it's "all systems go".0 -
Just completed our move last week.
It just goes to showing is possible to move house in this financial climate with a bit of imagination.0 -
silverchoice wrote: »Just completed our move last week.
It just goes to showing is possible to move house in this financial climate with a bit of imagination.
Are you the OP?
C0
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