part-exchange?

absolute0

We've seen a house we are pretty keen on, having spoken to the owners we have found out that they are moving into a new build (which isn't yet finished). The builder requires a deposit in the form of them being sold STC. The agent has offered the possibility that the builders may want to buy our FTB house from us on the basis that we would purchase the house. I don't really have a lot of knowledge of part-exchanging houses, I'm assuming we wouldn't get anywhere near our asking price?

The agent has said to us that if we were to proceed with the purchase a separate agent would need to be involved for a secondary valuation of our property. Has anyone had any experience of such situation? Any advice would be greatly appreciated.

Cheers

D

dougk_2

I don't see the need for another agent. An independant surveyor can value the property.

The question is how long will the property take to be built (finished) and do you want to wait that long. New buildings also have a habit of exceeding the deadline too!

absolute0

I've been told that the building work has finished, it's just the internal work, such as installing the kitchen, bathroom, etc... with an estimated date of June for completion.

Is going part-ex a good route because of the short chain? I'm also concerned about the amount we will get for our property.

D