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Selling vs Part Exhange?
Alias_Omega
Posts: 7,916 Forumite
So, our mortgage is nearly paid (£4k) to go and Mrs AO is having itchy feet and now see's the option to buy a larger house (4 Bedroom).
I have a fear that our house will not sell, the house is ex-council which in the previous years the close has gone down hill a little. In the row of houses (18), only 5 remain which are Council Property, the others which remain are Private Let or Owner Occupied.
Mrs AO noticed a builder (redrow) had a Px Scheme in a local new build estate, close to where she wants to be. These houses are priced at £172,950 (new) which concerns me that similar houses on an earlier Phase of the Build are on RightMove for £139,950 (4 Bed inc Garage).
Alarm bells are now ringing that the new build is over-inflated prices. I assume they will over-inflate our property on a Part Exchange to keep the Sale Prices high on the Books, whilst the real price to change will be £70-80k. (edit from £50-60k)
An alternative would be to move the current house into a Let-to-Buy type of scheme, but the fee's are just outrageous and the £2k a Year Profit (minus fee's) is just not worth the potential hassle...
I guess the answer would be to contact an EA, have them value the house and list it for sale, allowing people to come view & offer as expected...then move up the chain. If it sold for £70k (ex Council Remember), then call that £61k (minus fee's + £4k) leaves a nice deposit and the option to buy elsewhere...
However...if the house sells, and the time to sell the house is the unknown...and can Mrs AO keep it picture perfect with 3 children running around the house for viewings..
I have a fear that our house will not sell, the house is ex-council which in the previous years the close has gone down hill a little. In the row of houses (18), only 5 remain which are Council Property, the others which remain are Private Let or Owner Occupied.
Mrs AO noticed a builder (redrow) had a Px Scheme in a local new build estate, close to where she wants to be. These houses are priced at £172,950 (new) which concerns me that similar houses on an earlier Phase of the Build are on RightMove for £139,950 (4 Bed inc Garage).
Alarm bells are now ringing that the new build is over-inflated prices. I assume they will over-inflate our property on a Part Exchange to keep the Sale Prices high on the Books, whilst the real price to change will be £70-80k. (edit from £50-60k)
An alternative would be to move the current house into a Let-to-Buy type of scheme, but the fee's are just outrageous and the £2k a Year Profit (minus fee's) is just not worth the potential hassle...
I guess the answer would be to contact an EA, have them value the house and list it for sale, allowing people to come view & offer as expected...then move up the chain. If it sold for £70k (ex Council Remember), then call that £61k (minus fee's + £4k) leaves a nice deposit and the option to buy elsewhere...
However...if the house sells, and the time to sell the house is the unknown...and can Mrs AO keep it picture perfect with 3 children running around the house for viewings..
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Comments
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We've been on this forum too long Alias. I think I remember you buying?!
You've come up with your own answers. Get some valuations, then you can do the maths and your wife can keep the house tidy
Everything that is supposed to be in heaven is already here on earth.
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I guess we could have it valued, then i would have to finish off all them little jobs that i have never really had time to do, there are always things to do that are more interesting.
I still have to go around decorating caulk everything, but then i have to go around painting over the caulk... so its best to leave the caulk in the tube until the youngest stops being picaso and drawing on everything.0
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