Easy mover and part exchange

SEGGA1986

We went to have a look a development around 9 weeks ago with Taylor Wimpey decided on a plot put down a reservation fee and was told all about the easy mover which at 1st we wasn't bothered about but was talked into until the house we would buy was ready we was told that we would go on the easy mover scheme for 6 weeks and if that fails we would be guaranteed a sale because the part ex would kick in. We was offered to view the house to keep up to date and to take our children along to familiarise with the area then week 4 came and we went to choose the upgrades we wanted and started to pay for these. We had a phone call last week to say that they was now going to go into a meeting about the part ex agreement and would get back to us this week. Well this week came and we got a big kick in the teeth by TW as they have now said they aren't prepared to go forward with the part ex and we have 2 weeks extended to sell our current home or face losing the house we have seen getting built and putting our input into what we want.

It feels like our dreams have been shattered and they don't care 😢

Any advice on similar experiences please would be really helpful as we are just at a loss as to what we should do now xx

kingstreet

Frankly, you were not in a position to proceed as you had no buyer for your home. The builder could not guarantee you would find a buyer, nor could it guarantee it would take your property in part exchange.

For what reason has the possibility of a part exchange been withdrawn?

SEGGA1986

They reckon it's down to the area not been desirable and also they feel that as a business they would not be able to get back what they would pay us

We was promised all the talk of great advertising of our current home which we have had none and have been let down by bad estate agents, in advertising my house myself I have already had 3 people contact me with in 24 hours of it been live on a free ads site so if I can do it why can't an estate agent?

I just feel we got sold empty promises and I'm just living in hope that we can sell our house with in these 2 weeks so we can buy our dream home

kingstreet

Yes, a builder will be careful to only take a property it thinks it can sell quickly. That's probably why the PX wasn't offered at the outset.

TBH there's no mileage in the builder accepting your reservation if you are unable to proceed. It will have to cancel it and find another buyer if you can't. That's wasted time and effort on the builder's part as well as yours.

SEGGA1986

I think what gets me is they knew what area was like before they offered us the part exchange they even gave us a figure of how much they would give us if the easy mover fails
The new house is near completion so has all our upgrades in which include the dishwasher white goods etc
So surely they will lose out on money as no one else will want the kitchen how we have chose

kingstreet

What you have chosen would not normally be installed in the property until after contracts are exchanged. That way the builder ensures you are legally committed to purchase.

It would be unusual for the property to be kitted out to your spec so early in the process, unless the build is closed to being finalised.

Presumably, someone has come out to inspect and value the property which has resulted in its rejection for the PX?

SEGGA1986

Hi
They had original sent their 2 independent valuers out hence telling us the lowest price which would be the PX price went on market we asked to drop price of our current home after 3 weeks which they did then a week later they are looking into the PX ask us to reduce it for a the last 2 weeks by another £5,000 so £10,000 drop on our house with in 2 weeks

Yes all kitchen fitted tiles down in the new build we was due to go view it next week but I have put it off due to not knowing if it's going to be ours at the end ��

littlesparkles

I did the easy move scheme with TW in 2012. It got an offer on my property after 4 weeks and it was great. They had said they would consider part ex if the 6 weeks passed without an offer but it was never promised. I didn't pay for any extras until I was about to exchange contracts.

SEGGA1986

Hi little sparkles
They asked us to put a deposit down on the extras when we did the choices and options meeting with them and from then have been paying them upto £1,000 a time to make sure I paid it before completion as I didn't want a lump sum to have to find when we have no end of other things to pay for
I think because we got the " you are guaranteed a sale either way" got us as we have tried so hard before to sell our home and haven't had any luck be it due to market or just bit getting a sale

littlesparkles

When I was buying the extras I was made aware that I would lose the money if exchange didn't happen for any reason. I think it was in the small print too. It was 50% of the cost at the point of choosing then 50% on completion. I only had a gap of 2 weeks between extras and exchange and had a buyer for my property. On one site I was offered a house that was complete and had £1000s of extras already due to the previous buyer not going through with the sale. I expect they lost the 50% they had paid. :-(

I can see why TW are not keen to do part ex if your property has had no offers on easy move. They were willing to consider part ex on mine if the buyer pulled out because the property had been shown to have the potential to get a good sale price.

Did you get anything in writing about 'guaranteed sale'? I suspect not because TW will have covered their backs.

I doubt there is much you can do apart from try to put some pressure on by contacting the part ex manager, regional office etc. or getting an offer on your property ASAP. I hope it works out for you.

littlesparkles

Come to think of it, I didn't even pay the reservation fee until I had an offer on my property through the easy move scheme.