Has anyone part exchanged with Persimmon recently?

Sheep

If so would you mind sharing your experiences?

They are sending 3 estate agents round on Friday and we are nervouse because the figures are very tight as to whether we have enough equity in our home to fund at least a.10% deposit.

It says in the show home that they offer 100% part exchange for the value of your home. Is this based on something like 'a sale price to sell within 2 weeks' etc etc.

The sales guy told us there will be no negotiation with our sale price or the price of their new home.but they may be able to offer extras. These will be no good if we cannot get a 10% deposit.

Any info or experiences would be great

jennhg88

We looked into it with charles church/persimmon.
We were told they would only offer us a price with a view to it selling within 2 weeks. So in our case would be at least 45k under market value. So we declined and lowered our asking price a bit with a high street estate agent, sold it 2 weeks later only 10k down instead of 45k.

Sheep

Wow... thats a huge drop. Im hoping we wouldnt be looking at anywhere newr that. At least they were very honest with you.

A house over the road has just gone up for sale between £145-150. We have a more desirable house looking out over fields and we have a garage which they dont.

We need to be coming out with a minimum of £139k

jennhg88

No harm in seeing what the valuations come out at?
Ours was on at 325 which was slightly less than an identical house in the same road sold for a month before so was very realistic, had an eye on a plot that was nearly ready hence we inquired about part exchange. They said offers would be 270-280 which seemed completely ridiculous.
Dropped our price to 315 and sold it 2 weeks later, and the plot we wanted was still available - phew!

Sheep

Those figures seem crazy! Was that recent too?

The sales person is telling us we recieve 100% of the 'fair value' which doesnt seem to tell me a right lot. They do have signs all over the development advertising '100% part exchange'.

[Deleted User]

Sheep wrote: »

Those figures seem crazy!

Not when you think about what you're asking them to do - ie take your house off your hands immediately and maintain it until they can sell it on again.

They're not going to do that for a few grand.

tim9966

I did a year ago. They gave me about £3k less than I would have liked, but there were no estate agent fees to pay which helped balance it out a bit.


They first offer was ok, but I asked if it could be made higher and a day later they did increase the price slightly by £1K as they won't reduce the house you are buying.


It took them 6 weeks to sell mine, but I was able to stay living in it for the full 7 months it took for the new house to be ready.

Sheep

Thanks Tim,

I appreciate it was 3k under what you would have liked but do you feel it was 3k under a standard market value?

As in not 3k under a 'price to sell in the next 10-14 days' price..

Hope that makes sense!

tim9966

If I was selling myself I would have put my house up for £135k and taken anything over £130k.

In the end Persimmon gave me £127k with no estate agent fees and told me not to bother with a few minor repair jobs that I would have done if I was selling myself.

Also the road I lived in had 33 houses all the same design which helped making valuations easy.

Sheep wrote: »

Thanks Tim,

I appreciate it was 3k under what you would have liked but do you feel it was 3k under a standard market value?

As in not 3k under a 'price to sell in the next 10-14 days' price..

Hope that makes sense!

jennhg88

Sheep wrote: »

Those figures seem crazy! Was that recent too?

Yep, probably around a month ago!

Sheep

Wow really? Did you just walk away or did they negotiate?