Persimmons Part Exchange Query

Roos-V

Hi all,

New to the forum and just looking for a quick bit of advice. I am currently trying to part exchange with Persimmon. They originally valued my house at £115k which I refused (looking for £125k) but they have since upped the offer to £120k which I could perhaps stretch to if it weren't for stamp duty and legal fees. Would anyone know what my chances are of getting them to pay these fees on my behalf? It would be the difference between being able to move and not.

Thanks in advance for any responses.

caeler

It will depend on how much discount you have been offered on the new property and if they can easily sell on your home quickly and ideally not paying agents anything (ie they have people waiting in the wing to snap it up).

shop-to-drop

What have you got to lose? If the only way you can afford to buy their property is if they pay the stamp duty then make that offer. They can only say yes or no. I would think your chances are good as they are struggling to sell ATM from what I understand they are also more likely to negotiate hard at the beginning and end of the development rather than at the middle. December is also a good month for negotiating, so give it a go. Good Luck!

Roos-V

Thank you both for the reply.

The house has already been discounted by £20k as part of a home of the week style offer so that may affect the leeway that they have. It's right at the end of the first phase of a development, phase two houses not available until April at the earliest. I've left a message with the salesperson advising that it's currently too much of a stretch without any assistance on stamp duty and fees but they're shut until Thursday anyway. Fingers crossed that they can help.

Thanks again

shop-to-drop

The fact that they have already discounted means they want rid. I'm optimistic for you. Hope you get a positive reply.

Roos-V

Just by way of an update. Got a call from the salesperson at Persimmon to advise that they were unable to assist with the fees and stamp duty.

So then I told her that we'll be unable to take the house as we're stretched as it is so now she's off making some calls to see what she can do. Hopefully they'll come back offering something.

lessonlearned

If it is their financial year end in December then you should be ok and get your deal.

They may well expect you to Legally Complete before the year end so make sure you have all your paperwork in order so as to not hold things up.

shop-to-drop

Thanks for updating. Fingers crossed they miraculously change their mind.

Roos-V

From what I've read it is their financial year end, so fingers crossed that sways things. We'd be more than happy to be in there ASAP, and told the salesperson this in case it sways things. Just have to wait and see what tomorrow brings

lessonlearned

Fingers crossed.;)

caeler

It is their financial year end, I know as I'm part-exchanging with Persimmon too. It may well be too late to rely on that as I can't see anyway you would be able to complete by 21 December at this stage. I made my offer mid-October obtaining a good discount and market value on px because it was their year end, I would never have got this had it not been end of year.