Which Builders Offer Traditional Part Exchange?

juliedee4663

Hi all

Could anyone advise which Builders offer the traditional Part Exchange Schemes, and has anyone had any experience of them. Not interested in the Assisted Purchase type schemes where they arrange to put the house up for sale for you, just the Part Exchange Schemes.

Thanks.

RelievedSheff

We part exchanged with David Wilson Homes and were very happy with the deal that we got.

This was a traditional part exchange deal. 

Loopylou_4

I am also interested in this, I have been looking at Barratt Homes who do part exchange but I was wondering how much less than the estate agent price they are likely to offer? 

RelievedSheff

Loopylou_4 said:

I am also interested in this, I have been looking at Barratt Homes who do part exchange but I was wondering how much less than the estate agent price they are likely to offer? 

David Wilson who are owned by Barratts offered us 10% less than open market price for the house we part exchanged.

We then got a deposit contribution, stamp duty and legal fees paid and free flooring on the new house. On top of this with no estate agents fees to pay the whole deal added up to more than we would have got open market for our old house.

Don't get too hung up on the part exchange price, it is the whole deal that matters.

Loopylou_4

RelievedSheff said:

Loopylou_4 said:

I am also interested in this, I have been looking at Barratt Homes who do part exchange but I was wondering how much less than the estate agent price they are likely to offer? 

David Wilson who are owned by Barratts offered us 10% less than open market price for the house we part exchanged.

We then got a deposit contribution, stamp duty and legal fees paid and free flooring on the new house. On top of this with no estate agents fees to pay the whole deal added up to more than we would have got open market for our old house.

Don't get too hung up on the part exchange price, it is the whole deal that matters.

Thank you for this, that’s really helpful to know. I’ve been trying to do some research about it but saw some posts on here from years ago that said they had bad experiences about part exchanging with Barratt’s so it’s good to know yours was good! I would definitely prefer to do it that way to save the hassle & for ease. 

RelievedSheff

Loopylou_4 said:

RelievedSheff said:

Loopylou_4 said:

I am also interested in this, I have been looking at Barratt Homes who do part exchange but I was wondering how much less than the estate agent price they are likely to offer? 

David Wilson who are owned by Barratts offered us 10% less than open market price for the house we part exchanged.

We then got a deposit contribution, stamp duty and legal fees paid and free flooring on the new house. On top of this with no estate agents fees to pay the whole deal added up to more than we would have got open market for our old house.

Don't get too hung up on the part exchange price, it is the whole deal that matters.

Thank you for this, that’s really helpful to know. I’ve been trying to do some research about it but saw some posts on here from years ago that said they had bad experiences about part exchanging with Barratt’s so it’s good to know yours was good! I would definitely prefer to do it that way to save the hassle & for ease. 

It was as hassle free as it gets. The house we bought from David Wilson was already finished so it was 3.5 weeks from reserving the plot to moving in.

The developers marketed our old house while we were still living there. That went on the market on a Friday afternoon and was sold by the Monday morning with 5 offers on the table!!

Loopylou_4

RelievedSheff said:

Loopylou_4 said:

RelievedSheff said:

Loopylou_4 said:

I am also interested in this, I have been looking at Barratt Homes who do part exchange but I was wondering how much less than the estate agent price they are likely to offer? 

David Wilson who are owned by Barratts offered us 10% less than open market price for the house we part exchanged.

We then got a deposit contribution, stamp duty and legal fees paid and free flooring on the new house. On top of this with no estate agents fees to pay the whole deal added up to more than we would have got open market for our old house.

Don't get too hung up on the part exchange price, it is the whole deal that matters.

Thank you for this, that’s really helpful to know. I’ve been trying to do some research about it but saw some posts on here from years ago that said they had bad experiences about part exchanging with Barratt’s so it’s good to know yours was good! I would definitely prefer to do it that way to save the hassle & for ease. 

It was as hassle free as it gets. The house we bought from David Wilson was already finished so it was 3.5 weeks from reserving the plot to moving in.

The developers marketed our old house while we were still living there. That went on the market on a Friday afternoon and was sold by the Monday morning with 5 offers on the table!!

Oh that’s amazing to know it can happen so fast, that’s what I was hoping for! Do you have to have a mortgage offer already in place before you reserve?

brownn

Loopylou_4 said:

Thank you for this, that’s really helpful to know. I’ve been trying to do some research about it but saw some posts on here from years ago that said they had bad experiences about part exchanging with Barratt’s so it’s good to know yours was good! I would definitely prefer to do it that way to save the hassle & for ease. 

We part exchanged with Barratt Homes and completed Friday 26th Feb 2021. We got 97% of the market value, but made up the difference with extras and savings in estate agent fees. All hassle free, house sold within a few weeks back in November (1 virtual viewing and 1 in person viewing) and we stayed in the house until ours was ready. 

tinytiddles

We part-ex’d with Taylor Wimpey, sold for 7% under the valuation and got 5% of the value of the onward purchase as incentives which was a lot more than the 7% we dipped out on. It is important to remember that they will pay agent fees as well on top which I can’t imagine is cheap because they go multi-agency to sell your property. It was such a straightforward process and it meant that we had no hassle with needing to move out beforehand or panicking that our sale would fall through.
I do think you need to hit the market at the right time when they have plots that are a bit slow going in order to get the best deals. The house we eventually got had fallen through twice already due to the lockdown and the market was only just starting to re-open so they were desperate for the sale. If you can get the right deal go for it!

RelievedSheff

Loopylou_4 said:

RelievedSheff said:

Loopylou_4 said:

RelievedSheff said:

Loopylou_4 said:

I am also interested in this, I have been looking at Barratt Homes who do part exchange but I was wondering how much less than the estate agent price they are likely to offer? 

David Wilson who are owned by Barratts offered us 10% less than open market price for the house we part exchanged.

We then got a deposit contribution, stamp duty and legal fees paid and free flooring on the new house. On top of this with no estate agents fees to pay the whole deal added up to more than we would have got open market for our old house.

Don't get too hung up on the part exchange price, it is the whole deal that matters.

Thank you for this, that’s really helpful to know. I’ve been trying to do some research about it but saw some posts on here from years ago that said they had bad experiences about part exchanging with Barratt’s so it’s good to know yours was good! I would definitely prefer to do it that way to save the hassle & for ease. 

It was as hassle free as it gets. The house we bought from David Wilson was already finished so it was 3.5 weeks from reserving the plot to moving in.

The developers marketed our old house while we were still living there. That went on the market on a Friday afternoon and was sold by the Monday morning with 5 offers on the table!!

Oh that’s amazing to know it can happen so fast, that’s what I was hoping for! Do you have to have a mortgage offer already in place before you reserve?

No our mortgage offer wasn't in place although we did have a decision in principle. 

The mortgage offer took a couple of weeks to come through. We instructed the solicitors as soon as we had reserved the plot and agreed the deal before the mortgage offer was in place, which is risky but it worked in our case.

MidnightWolf

We used Bellway’s part exchange scheme. The price they gave us for ours was less than we had initially marketed it for, but it was £10,000 more than they subsequently sold it for (they sold it to a chap who’d previously made us an offer that was £10k less than he paid Bellway). We also got flooring, upgraded kitchen and stamp duty paid in full, although we had to threaten to walk away as they initially only wanted to pay half as it was part exchange, despite all their advertising saying full stamp duty paid. Took them less than a day to come back and agree to pay it all.