New Build/Part-Exchange Dilemma

Mickygg

Think about it. You were happy to sell at £90k and they have offered you just £2.5k below this. They do part ex to ultimately make money. Of course they want full price if they are doing what sounds like a fair part ex.

Sweet_Sugar_1984

Yes but if I sell myself at say 90k, I'd get the new house for 135k- a saving of 15k. I'll wait 'til tomorrow and if it all falls through I'll put my house on the market....

Sweet_Sugar_1984

Update- Managing Director at Orion called yesterday and I told her that the max I can afford to pay is £135000 even if I do part-exchange. The MD herself now wants to come have a look at my house tomorrow to make sure it's going to be sellable if they buy it off me, so I'm thinking there might still be some kind of deal on the cards? I must say they've been very accomadating so far and don't seem to be taking no for an answer....Heard on the grapevine that they are kind of desperate to sell so hope it works in my favour...

Holls1981

Ooh that sounds positive!! Please update after the visit!!!

bigchrissyg

I would say if they are 'desperate' to sell them then perhaps the 135 value is what they are REALLY worth! Stick to your guns and you'll secure it. It's hard to detach head and heart in these transactions.

DVardysShadow

Sweet_Sugar_1984 wrote: »

.... we've fallen in love with a new build home

Marlene Dietrich was like you. When 1 house fell through, she'd find another.

Fallin' in love again
Never wanted to
What am I to do?
Can't help it

Love's always been my game
Play it how I may
I was made that way
Can't help it

Sweet_Sugar_1984

Hi guys been a long week for me, but just thought I'd update.

Have been in talks with Orion all week and here's the deal they've offered: MD came to see my house and said they will offer me £102500 (original offer was £82.5k) for my property if I buy theirs for asking price of £150k. This is a good deal for me as I've only had to go over-buget by £2.5k and the MD said it's good for them too as LandReg will show that their property sold for the asking price.

Me & huby will be going in to confirm today.....I feel like I've got such a good deal. I even tried to get Orion to pay solicitors fees but they weren't having it and said they've done the maximum they can as they may ultimately make a loss on my property.

In-between all this have been speaking to the Financial Advisor they recommended and I must say he's played a huge part in securing the deal for me.

Will keep u all updated on what happens next.

SuzieSue

Make sure you use your own solicitors and not the ones recommended by Orion.

Sweet_Sugar_1984

Thanks I will do- have already started ringing round for quotes. Not cheap is it? lol.

Alexi.Olva

very good post alot of questions i think of answered thanks guys