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Taylor Wimpey good news story!
jls85
Posts: 87 Forumite
Hello all, I'm not sure if this is okay to post or not, but when I was looking at buying my new house all I could see was bad news stories and complaints about new build homes, so I thought it might help others like me to hear a good one for a change.
Me and my partner part exchanged his existing flat and reserved a new build home via Taylor Wimpey in around November last year. As part of the part exchange terms and conditions, we were offered a lower amount of £135,000 for the flat despite the home report showing a market value of £140,000. However, given this meant we'd be able to stay in the flat right up until the day of completion on our new home, we thought the convenience outweighed the slightly lower offer.
Our new home was due to be completed in June this year, so around April, TW put our flat on the market and given the way the market is in Glasgow at the moment we were inundated with viewers - over 50 in a week. The flat then went to a bidding war and sold for £164,500 - almost £30k more than we had part exchanged it for! My partner and I were surprised and a little disappointed it went for so much more than we had sold it for, but figured that part of the risk of a P/X deal is that the developer could well make a good profit on the properties they buy so we thought nothing more of it.
So we were absolutely stunned to get a call from Taylor Wimpey after the closing date letting us know that their policy in those situations is to offer their client the chance to swap from the P/X arrangement and let them take on the new buyer themselves, which effectively meant we would receive almost £30k more than we thought we would from the sale! The only stipulations were we had slightly higher legal fees as the original missives had to be changed and the new sale paperwork drawn up; and we had to wait a few weeks longer until the new sale went through to get into the new house. Which we obviously agreed to!
Admittedly I'm not overly experienced when it comes to buying/selling houses so maybe this is standard for a P/X arrangement, but I was and still am shocked and impressed that TW did this. I have never heard of any big company doing anything like this before and they couldn't have been more helpful in explaining the whole process to us. I deliberately waited until we were in our new home and it was all settled before posting this - just in case we'd missed some catch somewhere along the way - but it all went through fine and the extra money is now safely in the bank.
I appreciate everyone's situations are different so it's not like I'm suggesting others should expect the exact same outcome, I just felt it was very decent of TW to do this for us and wanted to let people know about our experience with them. After this, I'd recommend them to anyone!
Me and my partner part exchanged his existing flat and reserved a new build home via Taylor Wimpey in around November last year. As part of the part exchange terms and conditions, we were offered a lower amount of £135,000 for the flat despite the home report showing a market value of £140,000. However, given this meant we'd be able to stay in the flat right up until the day of completion on our new home, we thought the convenience outweighed the slightly lower offer.
Our new home was due to be completed in June this year, so around April, TW put our flat on the market and given the way the market is in Glasgow at the moment we were inundated with viewers - over 50 in a week. The flat then went to a bidding war and sold for £164,500 - almost £30k more than we had part exchanged it for! My partner and I were surprised and a little disappointed it went for so much more than we had sold it for, but figured that part of the risk of a P/X deal is that the developer could well make a good profit on the properties they buy so we thought nothing more of it.
So we were absolutely stunned to get a call from Taylor Wimpey after the closing date letting us know that their policy in those situations is to offer their client the chance to swap from the P/X arrangement and let them take on the new buyer themselves, which effectively meant we would receive almost £30k more than we thought we would from the sale! The only stipulations were we had slightly higher legal fees as the original missives had to be changed and the new sale paperwork drawn up; and we had to wait a few weeks longer until the new sale went through to get into the new house. Which we obviously agreed to!
Admittedly I'm not overly experienced when it comes to buying/selling houses so maybe this is standard for a P/X arrangement, but I was and still am shocked and impressed that TW did this. I have never heard of any big company doing anything like this before and they couldn't have been more helpful in explaining the whole process to us. I deliberately waited until we were in our new home and it was all settled before posting this - just in case we'd missed some catch somewhere along the way - but it all went through fine and the extra money is now safely in the bank.
I appreciate everyone's situations are different so it's not like I'm suggesting others should expect the exact same outcome, I just felt it was very decent of TW to do this for us and wanted to let people know about our experience with them. After this, I'd recommend them to anyone!
10
Comments
-
That sounds like a great deal and, as you say, it's rare to read a positive new build story. Enjoy your new home!
2 -
Thats amazing that they gave you the difference back.
Great to read a positive story about new build.
All the very best with your new home!2 -
Having just reserved on a new build (albeit not with TW), I appreciate the good story! So much of what you read online is horror stories.
Although on our way to the marketing suite today, we walked past a number of existing residents mowing their gardens and they all gave great feedback! The 28 days to exchange took me by surprise but having searched online it seems pretty common…0
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