Buying new build from Persimmon using part exchange - any advice?

GDB2222

The simplest and best approach is to find a buyer yourself for your present house, then approach Persimmon, looking for say a 10% discount. You need to buy a house from them that is already built, so you can have a fixed completion date for the purchase and you can exchange contracts simultaneously on both houses, with the same completion date.

The alternative is to make the offer you suggested, but I'd start a boit lower, rather than putting your best bid on the table right at the start.

Trav2012

All too often, it is possible to read the poor experiences that people suffer when buying a new home. It is also commonplace to hear how people fail to negotiate effectively when they have a property to part exchange, and we hear stories of how the construction companies shortchange on the value of homes which people wish to part exchange.

For these reasons, I believe it is important to sing a different tune when the circumstances merit it.

Earlier, I sought advice on the merit of part exchange, not having done it before, and not knowing what to expect. Having read the posts, I always knew that we were not going to be offered full market value; a bit like getting a trade figure on a car you wish to use as a deposit against a new car. This concerned me as the amount we could afford to pay for the home we want is finite.

So today, as expected, Persimmon homes offered us a chunk less than what we would want, but then completely surprised us by advising that in fact the amount didn't really matter, as they would discount the house we wanted, AND pay the SDLT so that we would not have to find any more money!

Result!

We expect to have snagging issues, as with any new build home, the property needs to settle and there will be consequences. There may even be slightly more serious issues to address; however, in the grand scheme of things, we have a fantastic 5 bedroom home for a very reasonable price, and no longer the hassle of having a property to sell with all it entails. I even have the mobile phone number for a member of the management team, and she picked up each time I called.

I do believe that people write when there are concerns to convey, and quite rightly. Wouldn't it be nice though, to hear some more positive experiences. Readers of this forum should know that there are more efficient ways of buying a home than the traditional method of having to sell your old house first and risk the potential of chains and broken promises.

Thumbs up for new homes: they keep many tradespeople employed. Prices are often flexible, unlike the majority of private homes for sale. Quite often, they are being constructed in beautiful parts of the UK, and are tastefully finished . . .

Credit where credit is due: Sales Team and Sales Manager for Persimmon Homes, Hellingly, East Sussex
:T