DWH Part Exchange?

JJR45

Titus_Wadd said:

We won't get the market value for our house selling it privately, because we would have to declare the on-going anti-social behaviour, threats and assaults by our neighbours from hell. 

You would still have to declare it, the sales process is still the same, you are more likely to get comeback if you lie to a developer as they will have their own legal team.

badger09

This thread is almost 3 years old, resurrected today by RyanM98. 

I doubt OP cares about the hijack😏

user1977

JJR45 said:

Titus_Wadd said:

We won't get the market value for our house selling it privately, because we would have to declare the on-going anti-social behaviour, threats and assaults by our neighbours from hell. 

You would still have to declare it, the sales process is still the same, you are more likely to get comeback if you lie to a developer as they will have their own legal team.

Indeed, my experience is that they try to cover all bases with their enquiries / warranties (as they can only guess at what the ultimate buyer will ask) so you're even less likely to be able to (legitimately) get things past them.

TheJP

RyanM98 said:

I've literally just gone through the process and unfortunately was left very dissatisfied - (01.04.2023) They request for 3 agents to come value your house, more than likely an estate agent from Whitakers or someone like that, Countrywide surveyors and then someone from DWH themselves. Personally, I did get 2 estate agents in before I went through the process to give me a brief idea of price which they valued my house late £160k/early £170k however when we attended the appointment at the sales and marketing centre at DWH, they offered me £148,735 which was a real blow considering the house i was putting to them had been completely gutted, renovated and really modernized for what could be the perfect house for a First Time Buyer. They also stated if i was to accept they would put my house on the market at £155,000 so they really do get cheeky with their offers and we have since decided to go and sell via the open market and hopefully purchase the home through DWH in the normal way and take advantage of their incentives. I did attempt to negotiate with the sales advisor and the part ex manager and they revised their offer to £150,000 without the guarantee (they give you the profit if they sell your house for more than agreed) but this still wasn't enough to match my acceptance. I wouldn't recommend it personally but each site may differ in their generosity.

A part ex is always purchased at below market value and then resold higher than the sale price to recover costs that the developer has incurred. We bought a px house from a developer, sold to them for £320k and we bought it for £347k. The mortgage valuation valued it at £350k so we were happy with that. The people who lived in the house didn't mind selling lower as they didn't have any estate agent fees, developer covered their legal fees and paid for removals to their new property. I would guess they made a £15k profit after costs deducted. 

pb_1985

RyanM98 said:

I've literally just gone through the process and unfortunately was left very dissatisfied - (01.04.2023) They request for 3 agents to come value your house, more than likely an estate agent from Whitakers or someone like that, Countrywide surveyors and then someone from DWH themselves. Personally, I did get 2 estate agents in before I went through the process to give me a brief idea of price which they valued my house late £160k/early £170k however when we attended the appointment at the sales and marketing centre at DWH, they offered me £148,735 which was a real blow considering the house i was putting to them had been completely gutted, renovated and really modernized for what could be the perfect house for a First Time Buyer. They also stated if i was to accept they would put my house on the market at £155,000 so they really do get cheeky with their offers and we have since decided to go and sell via the open market and hopefully purchase the home through DWH in the normal way and take advantage of their incentives. I did attempt to negotiate with the sales advisor and the part ex manager and they revised their offer to £150,000 without the guarantee (they give you the profit if they sell your house for more than agreed) but this still wasn't enough to match my acceptance. I wouldn't recommend it personally but each site may differ in their generosity.

I would be very interested to hear how this one worked out? If you are listing a house yourself with a local agent then they will all give you an over estimated valuation, this is to get your business and under contract. After a period of time, prob a month they will send you data showing you how many clicks it gets compared to viewings/enquirers and then will recommend your reduce the price. 

We have just been through the exact same process and made the same mistake you did, getting a valuation. we were told it could be marketed at £250k, so we were expecting an offer around £235k. 
DWH sent 2 agents round (1 from the same agent that gave us the 250k valuation) and presented us with justification and an offer of a lowly £215k!! Needless to say i was fuming. DWH then said they would relist at 225k (but we get the difference if it sells for more than 215k). 
it showed me how much the agent over valued our house to get our business. As you said, the agents you got valued it 160-170k and yet DWH were listing it at 155k? why would they list it so low if it was worth 170? 

we got a 20k towards deposit as well and we have been able to negotiate all extras and flooring costs to be covered. 
we are happy enough with the deal and it certainly takes all the stress out of selling private and having to meet exchange dates and having to move out and rent until new build is ready.  

As i said, id love to hear how it all ended for you and i hope you got the deal you wanted 

RelievedSheff

TheJP said:

RyanM98 said:

I've literally just gone through the process and unfortunately was left very dissatisfied - (01.04.2023) They request for 3 agents to come value your house, more than likely an estate agent from Whitakers or someone like that, Countrywide surveyors and then someone from DWH themselves. Personally, I did get 2 estate agents in before I went through the process to give me a brief idea of price which they valued my house late £160k/early £170k however when we attended the appointment at the sales and marketing centre at DWH, they offered me £148,735 which was a real blow considering the house i was putting to them had been completely gutted, renovated and really modernized for what could be the perfect house for a First Time Buyer. They also stated if i was to accept they would put my house on the market at £155,000 so they really do get cheeky with their offers and we have since decided to go and sell via the open market and hopefully purchase the home through DWH in the normal way and take advantage of their incentives. I did attempt to negotiate with the sales advisor and the part ex manager and they revised their offer to £150,000 without the guarantee (they give you the profit if they sell your house for more than agreed) but this still wasn't enough to match my acceptance. I wouldn't recommend it personally but each site may differ in their generosity.

A part ex is always purchased at below market value and then resold higher than the sale price to recover costs that the developer has incurred. We bought a px house from a developer, sold to them for £320k and we bought it for £347k. The mortgage valuation valued it at £350k so we were happy with that. The people who lived in the house didn't mind selling lower as they didn't have any estate agent fees, developer covered their legal fees and paid for removals to their new property. I would guess they made a £15k profit after costs deducted. 

Not always the case.

We part exchanged our house against a DWH new build. They gave us £90k for the house. They sold it for £90k.

They made no profit from our old property and as they paid estate agents fees, gave us a deposit contribution, paid our legal fees and gave us a moving costs contribution on top of an already heavily discounted build complete plot with upgraded kitchen and flooring throughout I doubt they made a great deal out of us at all!!