Me again! Part X experiences?

Bonfire_Bride

Hi ladies and gents,

Well, we decided to go and have a look at some new builds today. It is a new development in South Wales by Wimpey Taylor. We don't have a mortgage on our property (we pay it to my mum every month as she remortgaged her house for us to buy this one outright).

We live next door to a pub and I understand the house was on the market for a long long time before we purchased it 6 years ago for 93k. I would expect it to take a long time to sell again and due to some issues with the chairman (no issues with the pub itself) we would like to move asap.

We believe our house should sell for around 113k (that is being modest in relation to other street prices because of the pub we live next to). WT have advised they would Part X ours, which would help avoid normal EA fees, chain issues etc.

They told us they would engage two EA to value the property and offer a middle of the road price.

Does anyone have a positive experience of this?

Thanks in advance

horngkai

Part exchanged my current house. It makes the move a lot more straightforward and save you from trying to sell. 3 agents came to view my old property and was offered the average of the 3 valuation. Probably slightly lower than what they suggest I market it myself as they priced it for sale in 6 weeks. It does normally affect the possibility of negotiation on the new property price and add ons but it turns out fine with mine. My old property sold for £16k lower than the part ex price in the end. So despite paying the full price for my new house, it was negated.

Wh05apk

I have always been sceptical of part x'ing anything be it cars or houses, but when we bought ours, admittedly 15 years ago we did part'x, our previous property was a little unusual, and at the time we had it on the market for about 3 month, agents valued it anywhere between £80-£130k, they said they would get 3 agents, we "suggested" it had already been valued, and gave the names of the 3 agents with the highest quotes, as a result we got a very good price (I think it took the developers about 6 months to sell, and lost about £5k) we also negotiated about £5k off the new one as well, so all in got a very good deal, I think it helped as the market at the time was pretty slow, and ours was one of the last properties left, and the purchase had previously fallen through so they were keen to shift it.