Part exchanging with Taylor wimpey

Yell88

Hi at the moment we are looking to px with Taylor wimpey. We have their surveyor coming out to do a home report on Tuesday (we have already got our place on the market and had our own home report do e at the end of natch this year). They said our surveyor isn't one who they use so are sending their own guy out.

Has anyone been through this process, we want to know what to expect - how much go they offer u compared to your home report value?

Thanks any advice greatly appreciated.

Yell

littlesparkles

I'm in England and had a part ex valuation by TW. It was ridiculously low compare to Estate Agent valuations. We did their easy move scheme instead. We reduced our asking price a bit and in exchange TW paid for:
Agent fees
Removal service
Stamp duty
5% deposit
Legal fees

We had an offer within a couple of weeks. At our slightly reduced asking price which was higher than the part ex value.

We are almost ready to exchange now. I would recommend trying the easy move if the part ex is rubbish!

Yell88

Hi sparkles thanks for your reply. They didnt mention the easy move option. The house we have reserved is going to be ready next month so think they are pretty keen to get things moving fast. If they don't offer us 95% of our home report (the one we had done says 90k) then we are going to be stuck because of how much we owe. We told the sales girl all of this and she put the info in the part exchange form. I suppose if they don't offer us what we are looking for we could reserve a plot which isn't built yet so we have more time and we could look at the east move.

How long did TW take to get back to you with an offer? Did they send out estate agents too? They are not sending estate agents out here as we had them out a few months ago and TW are going to just contact them for info about our place. Does it seem to you like thy are cutting out steps? I don't know ifthis is a good sign as it appears they are rushing it through. I seen on other posts that they sent out 2 estate agents and a surveyor.




We have a mortgage in principle done by their financial advisor - they asked me to get this done before we had even visited the TW site.


Thanks
Yell

littlesparkles

Yes we were qualified by the advisor before anything else happened. Although we went direct to Nationwide for the mortgage as we got a better deal that way so don't just rely on the advisor!! They offered us £250 to use their recommended advisor but our savings made by going direct were WAY more than this!!

We had 3 agents value before we put it on the market. TW sent out one more and phoned another that had already been out. Valuation was very low! It will depend when you bought originally. We bought in 2006 so the market has fallen since then. However we sold on easy move within weeks at a much higher price than their part ex valuation (but 1k lower than we paid in 2006). Their part ex valuation was around 25% lower than the normal estate agent ones. We sold for only 12% lower than the valuations.

You might get a better deal seeing as the house is nearly ready. Ours won't be built for a few months yet and there weren't even foundations when we started the part ex!

Yell88

Hey, We bought in 2007 so prices have def fallen since then. We dont want to make a huge loss but we presume we will take a hit. I really hope that because the house we are going for is nearly ready that they will do as much as they can to help us to get everything to work out for us. I think she said something about it being Phase 1 and they are about to start on Phase 2, do they need to sell all of Phase 1 before starting on Phase 2? Phase 1 has 2 houses to sell (one of which is the one we hope to get).

I think that sounds the same as us - they are offering £500 towards legal fees but of course only if we use their people.

Also they have carpeted the full house and they have put in a shower to entice a buyer. She also said that there is a possibility they will turf the garden for us in with the price - obviously this is a bit further down the line as we don't even know what they are going to offer us yet!_pale_.

I seen on other threads that people have asked for them to discount the purchase price if the px price on their existing property isn't what they are happy with. I asked this and the sales woman said no because of the extras that have been put in - apparently these total over 3K.

I am going to be a bag of nerves waiting on them getting back to us.

I am going to sound daft here but is it surveys rather than Home Reports in England?

Yell

littlesparkles

Also it only took a couple of days after valuation for them to get back to me.

In England the survey or homebuyers report is generally done after an offer has been accepted and is organised by the buyer rather than the seller.

littlesparkles

This is what extras might be costing us:

Carpets £3000
Turf and fence £300
Upgraded kitchen £475
Upgraded kitchen tiles £100
Extra tv point to bedroom £130
Alarm £530
Shower over bath and tiling around bath £750
Outside light at front £115
Upgraded hob and oven £280
Upgraded chimney hood £100 or £200 depending on make

We are not getting all of these but I've given them as a guide for you to see the 'value' of the freebies.

littlesparkles

Also their integrated appliances are extortionate. You can buy your own and get the doors from the maker (google Symphony kitchen). Much cheaper. You can get additional tiles from porcelainosa (we want to half tile the ensuite, for example).

And a final tip... You can get a carpet sample from cormar carpets for the carpet you are getting so that you can use it when choosing sofa etc.

Good luck with it all!

Mr_Thrifty

that's nice of them to charge for carpets and tiling around the bath. do they charge for a front door too?

ankspon

Do not buy a wimpey home.

Yell88

Why are you against Wimpey ankspon?