Bellway part-ex, unsure.

BuxtonB

Hey guys.

Long story short we've found a wonderful new build plot on a Bellway estate and looked at going down the part-ex route.

The part-ex manager came to our house and explained that they get 2 estate agents to do valuations, they don't look to make a profit on the property and will give a fair offer.

We have had the property independently valued and the valuer told us exactly how bellway's part-ex program goes, they value for a 6 week, 8 week and normal selling price then make an offer based on those valuations.

He gave us what he would tell bellway in those circumstances, varying between 170k - 177k on the 6, 8 and normal selling price.

Bellway have come back and offered us 150k for the property and said they're unwilling to alter this price, nor include things like stamp duty, or deposit contribution etc.

We're a bit unsure how to proceed, does anyone have any input, previous experience in a similar situation?

Thank you in advance.

Cakeguts

Who independently valued the property was it a surveyor or an estate agent? If it was an estate agent how do you know that they didn't overvalue it?



Bellway want to sell your house they don't want own it for very long they want to sell it as fast as possible.

BuxtonB

We've had multiple estate agent valuations in the past 3 months and none have valued below 170k, granted they're not a surveyor but Bellway have based their offer on estate agent valuations also.

diggingdude

Put it on yourself for £160k and see what happens

Thrugelmir

BuxtonB wrote: »

We've had multiple estate agent valuations in the past 3 months and none have valued below 170k, granted they're not a surveyor but Bellway have based their offer on estate agent valuations also.

In part exchanging Bellway will have capital tied up in your property. Capital is borrowed money. Their offer reflects the risk of not selling the property for some time.

JGB1955

I wasn't aware that Bellway did wonderful buildings...have you read the reviews?

RelievedSheff

We recently part exchanged with David Wilson Homes. They gave us a price for the property based on them selling it on in six weeks.

Yes we could have got a bit more selling it privately but we saved on estate agents fees, legal fees and they paid our stamp duty so at the end of the day we were only a few grand short of what we could have sold the property for.

Plus we got a £10k deposit contribution, free flooring and a moving costs contribution.

It isn't the headline part exchange figure that matters but the deal as a whole.

In the end David Wilson marketed our home for the same price they gave us and it was sold within a few days of going on the market. We were able to move into our new home within four weeks of reserving it so it was worth it for us and took a load of hassle out of the move.

BuxtonB

Yeah, I'd absolutely be on board if the deal was more inclusive, including things like stamp duty etc but the deal is so bare bones that it's looking like a no go.

The development and plot is definitely desirable so I guess they know they can get away with it.

Will just go back and refuse their offer, back to the drawing board.

Thanks guys.

Raggie

When we did a Px with Bellway I thought of the process more of buying a new car than a house.

I took the listed price of old house minus cost of sales plus X amount to equal new house.

So starting at the list price of the new house i just focused on the cost to change.

I didnt care what the Px value was or the price of the new one, it was just how much money I had to provide to make the deal happen.

It may help to think in those terms and go back to Bellway with your position.

Court94

Hi
I am currently on the brink of placing an offer with David Wilson for one of their Chelworth homes (large 4bed).
We will be using their Part Exchange service but will also be asking for Stamp Duty Paid, Legal Fees and John Lewis Gift Voucher (they are offering this voucher and £10000 deposit contribution on one of their other houses on the development).
The plot we are interested is on the final phase of the whole development but is in quite a prime location as this is one of only 11 to face on to greenery rather than other houses. The sales advisor has already stated they will not be offering any incentives with these plots due to their location but I highly doubt that....

Please can anyone offer me any advise as to how I go about negotiating with DHW and how to play it if they reject our initial proposal? Is it advisable to say we will walk away from the house or should we go back with a counter offer?

Any help would be greatly appreciated! So hard trying to get the right balance of getting the beat deal and then again not loosing out on your dream home (especially given the desirability of the plot location!)

diggingdude

go in high, see what they offer (if anything), try and push them up. cross fingers, hope no one else comes along