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buying from a new homes part exchange seller
white_noise
Posts: 116 Forumite
Has anyone that has any experience with this scenario provide some pointers / pitfalls
A house that we are interested in is on the market with an estate agent, we have put an offer in for the property (just below asking price).
The estate agent then informed us that before they could pass the information to the new homes part exchange they need to have our financial information (copy of our mortgage in principle and details of our purchase solicitors).
The financial information isn't the main concern, what is, is that the seller of the house is buying a new house in a part exchange scheme, this is news to us.
has anyone has any experience of being a buyer from a new homes part exchange seller (not the owner of the house)?
what are the issues regarding offers and also completion etc etc.
WN
A house that we are interested in is on the market with an estate agent, we have put an offer in for the property (just below asking price).
The estate agent then informed us that before they could pass the information to the new homes part exchange they need to have our financial information (copy of our mortgage in principle and details of our purchase solicitors).
The financial information isn't the main concern, what is, is that the seller of the house is buying a new house in a part exchange scheme, this is news to us.
has anyone has any experience of being a buyer from a new homes part exchange seller (not the owner of the house)?
what are the issues regarding offers and also completion etc etc.
WN
0
Comments
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No experience as a buyer but we part exchanged with the builders for our new build and sold in situ, no different to any other sale / purchase I'd been through.
If anything the process will be speedier as the builders will push the people you are buying to a quick exchange and completion.0
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