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How do Builders sell part-ex homes?

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Hutch100uk
Hutch100uk Posts: 610 Forumite
Part of the Furniture 500 Posts Combo Breaker
in House buying, renting & selling
When someone uses their home as a part-exchange for a new build, how does the builder sell this property?
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Comments

  • metamatic
    metamatic Posts: 33 Forumite
    Normally just through local agents in this area. They tend to use multiple agents and price aggressively for a quick sale.

    I imagine they have made their money by screwing the poor person who has paid way over the odds for the new build so seem ok to take a hit on the part ex.

    I got my first house this way and got a bargain.
  • Hutch100uk
    Hutch100uk Posts: 610 Forumite
    Part of the Furniture 500 Posts Combo Breaker
    metamatic wrote: »
    Normally just through local agents in this area. They tend to use multiple agents and price aggressively for a quick sale.

    I imagine they have made their money by screwing the poor person who has paid way over the odds for the new build so seem ok to take a hit on the part ex.

    I got my first house this way and got a bargain.

    Thanks! I suspect our neighbours may have done this as they appear to have moved out and a Taylor Wimpey van came and loaded a lot of furniture from their house. I'm looking to buy on the estate I rent so wanted to get in early......
  • metamatic
    metamatic Posts: 33 Forumite
    They want you to move quick so tend to favour first time or cash buyers. We actually bought ours in 11 days although that was 8 years ago and there is no way a mortgage will go though that quickly nowadays

    Good luck but from a religious point of view I think you may be breaking one of the 10 commandments by coverting your neighbours property!
  • Hutch100uk
    Hutch100uk Posts: 610 Forumite
    Part of the Furniture 500 Posts Combo Breaker
    metamatic wrote: »
    They want you to move quick so tend to favour first time or cash buyers. We actually bought ours in 11 days although that was 8 years ago and there is no way a mortgage will go though that quickly nowadays

    Good luck but from a religious point of view I think you may be breaking one of the 10 commandments by coverting your neighbours property!

    Ha, thanks. You might be right but these houses don't come up for sale often so I have to be devious.
  • metamatic
    metamatic Posts: 33 Forumite
    If you are renting then I assume you are chain free so therefore in a good position.

    I would advise getting on to a mortgage company ASAP and getting an agreement in principal sorted. I'm going through an application just now and its painfully slow so try and get as much of a head start as possible. It also speeds things up if you bank with your mortgage lender so if you have an idea who you want to use then get a bank account opened with them now so you have got all the money laundering checks out of the way.

    Also, I was wrong about the 10 commandment thing. Its only his wife you aren't allowed to covet!
  • Mossfarr
    Mossfarr Posts: 530 Forumite
    Ninth Anniversary Combo Breaker Hung up my suit!
    why not contact Taylor Wimpey and ask if the house is going to be put on the market. They might be willing to accept a quick offer to save the costs of employing an estate agent.
  • metamatic
    metamatic Posts: 33 Forumite
    Good idea there. May even take that on board myself.

    My current purchase isn't guaranteed to go through so no harm in contacting some of the local builders to see if they have anything coming up soon. I'm chain free again so potentially able to move quickly.
  • Hutch100uk
    Hutch100uk Posts: 610 Forumite
    Part of the Furniture 500 Posts Combo Breaker
    Mossfarr wrote: »
    why not contact Taylor Wimpey and ask if the house is going to be put on the market. They might be willing to accept a quick offer to save the costs of employing an estate agent.

    I might just do that!
  • racing_blue
    racing_blue Posts: 961 Forumite
    metamatic wrote: »
    Also, I was wrong about the 10 commandment thing. Its only his wife you aren't allowed to covet!

    I think you'll find his manservant, maidservant, ox and !!! are off limits too.
  • racing_blue
    racing_blue Posts: 961 Forumite
    edited 28 March 2016 at 1:59PM
    OK, lets call it a donkey then :money:
This discussion has been closed.
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