Urgent advice re part exchanging!!!

giddypenguin

I'm afraidyou can't have it both ways, either you sell up and go back to them with thecash then you'll get a discount - or you part exchange.

The newfinancial year is loominghowever, so if you threaten to walk away you mayget something. But are you prepared to do that? Would you expect a normalvender to offer you such discounts? This is putting you in a weaker position.

harz99

Playboy7 wrote: »

Harz,

I'll only lose a small portion of my reservation fee, which isn't the end of the world. I'm hoping that if I play hardball, they'll realise there going to lose out on a sale for the sake of a few incentives!

Thanks

Exactly, with other built and unsold houses hanging around they do not have a strong hand to play!

Playboy7

Housemoo,

Thanks for that. They extras you mentioned sound both appealing to me and I'm hoping acceptable from their end. I'll definitely be pushing for incentives such as those.

lee111s

Ring up and say you'd like to proceed, pending a discussing about some extra's thrown in and that this would really seal the deal for you etc.

Playboy7

Harz,

Good point, I hadn't even though of that at this stage. And yes I'll let you know how things go!

LittleMax

It all comes down to how much interest they have in the house you are buying. If it's been sitting ready a while then there will be deals to be done. We moved in to a new build 6 months ago and got a £3k discount which was their standard offer on all 3 beds, we hadn't a hope of getting anything more of it as people wanted that particular plot, it was priced £5k higher than the other two houses of the same design, and had already been reserved but the buyers couldn't sell their old house. 6 months on and there is still a house of the same design up for sale and the other only just sold. I would be wanting lots of extras for the remaining house. However even with a discount and extras I still wouldn't swap my plot. So it really comes down to how long the house you are buying has been available.

Playboy7

Afternoon,

Update as requested. Bellway will not pay stamp duty, legal fees or even put carpets/tiles in their home.

Result. Told them the deal is off and requested my reserved fee be returned.

I'd be surprised if they don't phone back at some point, but I'm firmly of the belief that what's for you, won't go past you.

Guess we'll just have to wait and see!

gil13

I think to some extent it is very much the luck of the draw. We have P/X twice and managed to construct a good deal on both, I have always tried to deal with the sales director or regional MD as they can listen to what you say and have power to make decisions.

Our last one was with Charles Church, initially told by the neg on site that they were not offering P/X scheme as they had "too many P/X properties at this time" but I knew we had a solid property to sell. I also knew how much they like to maintain their marketing prices on new builds, so I didn't seek to push there (which also helps maintain average prices in the area on the LR figures and so goes a little way to help the price of your own property)

Instead I focused on the savings on; no estate agent fees with p/x (about 2.5-3 k saving), stamp duty which they agreed to pay (9k) and the knowledge that it was carperted and curtained throughout (which also saved thousands). We were realistic on what we wanted on our house as a P/X price and it is important to communicate this figure to them and also to the agents on valuation i.e if we don't get X then we cant proceed etc.. but do it in a clever subtle way not being all arraogant about it, the agents themselves want to get the instruction and if they can see a realistic price especially if your property is fresh to market, it's in everyones interest to get a deal done.

There are lots of variables no doubt about it, depends on the prices involved and certainly in our case they had more scope figures wise, on smaller properties perhaps they want to maintain margin as much as possible. But it is definately possible to get a good outcome on P/X and in a sticky market does take out some of the hassles of chains falling down and the heartache that can bring. Good Luck.

Playboy7

Gil,

I couldn't agree more about it being the luck of the draw. It simply comes down to factors such as time of year, sales targets, level of sales etc.

I just felt that although the part ex price was reasonable, they could've pushed the boat out a little further with incentives. (Ie. never offered any!)

I think I've made the correct choice, time will tell!

Thanks