Hard to sell flat-should we do part ex on new build?

STOTTYCAKE_2

My BH is trying to sell his flat but in 3 months he's only had 2 viewings. There are some new builds in the village who are offering part-ex. These new build prices have been reduced plus they offer part ex. Do you think this is a good deal or is it just swapping one hard to sell place for another? the new build is bigger and has garage, en suite etc but everyone in the village thinks they are expensive. Just don't know what he should do-exchange or reduce his flat price?
Has anyone done part ex and had problems?

wecanhelpu

Did your BH buy his flat as a new build with "discounts" ?

Doozergirl

You will pay through the nose for a part-ex. Also, if the villagers think the new builds are overpriced then they definately are. It sounds like a case of jumping from the frying pan into the fire, to me.

If your boyfriend reduced his price to a point where people started viewing and he could acheive a sale, he would be able to negotiate the price down on one of the new builds. Developers do like a little bit of danger money for part-exing; it's just like buying a car though, they might give him what looks like a good price on his old one, but they simply keep the price high on the new one.

I worked out that someone here was losing about £13,000 by part-exing. That was without considering the developers premium. I should imagine if the developer had asked them to write them out a cheque for £13,000, they would have baulked, but because it was hidden in the transaction and they appeared to be getting some horrendously overpriced carpet etc. instead of full market value for their house, they were happy.

If you would be prepared to post a link to his flat, we could try to offer some advice?