Downsizing but can’t sell. Is there a way to part-exchange or help me move.

Moi198

I’m a 58-year old woman living in Scotland. I currently work part-time and I’m mortgage-free. Property market is slow in my area. I have a two bed flat but want to move to a ground floor. I’ve seen a beautiful self-contained flat with a garden that has recently come on the market but I’m worried I won’t be able to sell mine. Are there any part-exchange or help to move options out there that won’t cost me a fortune?

Davesnave

I'm not sure I understand your question: is the g/f flat a new build?

One thing most of us have learned by the time we're 58 is that there are very few free lunches.

It doesn't matter about 'the market. ' If one wants to sell quickly, the simple way is to offer whatever one has at a discounted price, relative to others offring a similar thing.

That's what we did in 2008, and it's what the person selling the house we're in now did too.

If you cannot afford to do the above, then unless it's a new build or something like that, introducing an intermediary will cost you more.

AnotherJoe

Moi198 wrote: »

I’m a 58-year old woman living in Scotland. I currently work part-time and I’m mortgage-free. Property market is slow in my area. I have a two bed flat but want to move to a ground floor. I’ve seen a beautiful self-contained flat with a garden that has recently come on the market but I’m worried I won’t be able to sell mine. Are there any part-exchange or help to move options out there that won’t cost me a fortune?

No there are not unless it's a new build and the builder will p.x.

MoneyGeoff

So you haven't put your house on the market yet because you are worried it might not sell? You aren't going to be taken seriously as a buyer until you attempt to sell your property. Get it on the market and see what interest you get.

AdrianC

As others have said, PX on a new-build is possible, simply because the builder then buys your old property. If this is not a new-build, then who do you think would be buying your old flat?

And what's in it for them...? It's obvious what's in it for the developer of a new-build - they shift some stock, and crystallise their dev profit. That's worth the marketing PR of a PX scheme, and the costs of an onward sale.


If you don't think your current flat will sell, before you've even started to market it, then why not? Just general non-specific worries? Or is there something about it that you know is "off"?

LandyAndy

Downsizing but can’t sell. Is there a way to part-exchange or help me move.

Even if you are buying a new build, builders tend to offer part-ex to people trading up not trading down. They aren't likely to give you a new flat and some money for your current property.

You could, of course, try asking them.

xylophone

You say that you "can't" sell but it seems that you haven't yet tried?

Have you approached local estate agents for a valuation and discussion of your prospects for sale?

AnotherJoe

Also, if property market is slow where you are, waiting to sell seems like the opposite of what you should do ! If you are really keen to move, sell it and if you cant find somewhere imemdiately, move to rented temporarily which would put you in a good position regards future places you really like the look of. Otherwise you are never going to be able to move.

Jane_B

Most new build developers will not PX unless the home you are buying is worth x amount more than the one they will be exchanging with. So for a downsize this is unlikely (unless the property value of the new one is more than the one you have currently)

lookstraightahead

Not really you've probably got to go through the same stress as everyone. Why don't you try to sell it? Who are you thinking of selling it to?